KIEV, May 21 - Ukrainian producers exporting their products to Europe will be able to save around EUR 487 million per year on the payment of export duties after the signing of an agreement on the creation of a free trade area between Ukraine and the EU.

Nicolas Burge, head of the Trade and Economic Section at the EU Delegation to Ukraine said at a conference in Kiev on Tuesday that Ukrainian exporters at present incur significant costs when exporting their products to Europe.