National treatment and Most Favourable Nation treatment

1. Subject to reservations listed in Annex XVI-D [to this Agreement], Ukraine shall grant, upon entry into force of this Agreement:

(i) as regards the establishment of subsidiaries, branches and representative offices of legal persons of the EU Party, treatment no less favourable than that accorded to its own legal persons, branches and representative offices or to any third country legal persons, branches and representative offices, whichever is the better;

(ii) as regards the operation of subsidiaries, branches and representative offices of legal persons of the EU Party in Ukraine, once established, treatment no less

favourable than that accorded to its own legal persons, branches and

¹⁷ For greater certainty, processing of nuclear materials includes all the activities contained in UN ISIC Rev.3.1 code 2330.

¹⁸ Without prejudice to the scope of activities which may be considered as cabotage under the relevant national legislation, national cabotage under this chapter covers transportation of passengers or goods between a port or point located in Ukraine or a Member State of the European Union and another port or point located in Ukraine or Member State of the European Union, including on its continental shelf, as provided in the UN Convention on the Law on the Sea and traffic originating and terminating in the same port or point located in Ukraine or a Member State of the European Union.

¹⁹ The conditions of mutual market access in air transport shall be dealt with by the Agreement between the European Union and its Member States and Ukraine on the establishment of a Common Aviation Area.

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representative offices; or to any legal persons, branches and representative offices of any third country legal persons, whichever is the better.²⁰

2. Subject to reservations listed in Annex XVI-A [to this Agreement], the EU Party shall grant, upon entry into force of this Agreement:

(i) as regards the establishment of subsidiaries, branches and representative offices of legal persons of Ukraine, treatment no less favourable than that accorded by the EU Party to its own legal persons, branches and representative offices or to any third country legal persons, branches and representative offices, whichever is the better;

(ii) as regards the operation of subsidiaries, branches and representative offices of legal persons of Ukraine in the EU Party, once established, treatment no less favourable than that accorded to their own legal persons, branches and representative offices; or to any legal persons, branches and representative offices of any third country legal persons, whichever is the better.²¹

3. Subject to reservations listed in Annex XVI-A and XVI-D [to this Agreement], the Parties shall not adopt any new regulations or measures which introduce discrimination as regards the establishment of legal persons of the EU Party or of Ukraine on their territory or in respect of their operation, once established, by comparison with their own legal persons.

Article 89

Review

1. With a view to progressively liberalising the establishment conditions, the Parties shall regularly review the establishment legal framework²²and the establishment climate, consistent with their commitments in international agreements.

2. In the context of the review referred to in paragraph 1 [of this Article], the Parties shall assess any obstacles to establishment that have been encountered and shall undertake negotiations to address such obstacles, with a view to deepening the provisions of this Chapter and to including investment protection provisions and investor-to-state dispute settlement procedures.

Article 90

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