The European Union signed an agreement with the Guild Ukraine, Georgia, and Moldova

The European Union signed an agreement with the Guild Ukraine, Georgia, and Moldova

The European Union signed an agreement with the Guild Ukraine, Georgia, and Moldova, which was strongly opposed by Russia.

The most important thing in the deal is there any reduction or elimination of customs duties for most of the products, reports the BBC's business correspondent, Andrew Walker.

President of Ukraine, Petro Poroshenko, said the agreement as a historic turning point for the country but also warned the assembled leaders that Ukraine had to pay dearly for it.

His predecessor, Viktor Yanukovych, refused the deal and chose a closer relationship with Russia that sparked many protests Click the drop bulanKlik Yanukovych.

Then click the Russians occupied the Crimea province and accused of triggering violence in the eastern Ukraine. Today the Russian leader warned of more severe consequences.

The new agreement is reached by the European Commission will provide savings Click to exporters Ukraine with an estimated nearly half a billion euros each year.

The European Union has so far memlikii number of trade agreements with several countries but the Commission illustrate this agreement is one of the most ambitious.

Meanwhile the UN refugee agency said there had been a rapid increase in population from their homes in Eastern Ukraine last week, with an additional approximately 16,400.

Crisis in Eastern Ukraine has so far made 54,400 people were displaced within the country while 110,000 left Ukraine for Russian head.

BBC