Ukraine will be able to save EUR 600 million in customs tariffs alone after the signing of the Association Agreement with the European Union. Jan Tombinski, the head of the European Union’s Delegation to Ukraine, announced this to reporters in Donetsk on Monday, the UNIAN news agency reports, citing RIA Novosti.

"We have calculated that Ukrainian exporters to the EU pay EUR 600 million in customs tariffs every year. These tariffs will no longer exist, and this money can be invested in modernization of technology," said Tombinski.

According to him, the European Union has already developed financial support projects aimed at improving Ukraine's technological standards.

"However, from this point of view, the amount that needs to be invested in the Ukrainian economy over 10 years is not much. More investment should be made in opening up markets and earning money and this money should be used to modernize the Ukrainian economy," he said.