The action plan, which takes effect immediately, sets out the main areas of reform Ukraine needs to implement in order to meet EU standards. The areas covered range from democratic safeguards to steel import quotas and a relaxed visa regime. The document aims to facilitate the granting of market economy status to Ukraine. In this context, the action plan offers EU backing to Ukraine's bid to join the World Trade Organisation (WTO).
The contents of the action plan were first approved by the Council in December 2004, but its adoption was postponed until after the presidential elections in Ukraine.
The action plan falls short of offering the prospect of EU membership, but it refers to the possibility for Ukraine to join the EU's internal market. This is conditional on the granting of market economy status to the country.
Under the action plan, the sides agree to
- seek closer co-operation in foreign and security policy, regional stability, crisis management and non-proliferation
- strengthen bilateral economic ties
- work toward the establishment of a free trade area between the EU and Ukraine once Kiev has joined the WTO
- jointly work toward Ukraine's adoption as a WTO member
- clear the way for the granting of market economy status to Ukraine by the EU



