The European Commission and Ukraine have commenced discussions on a new bilateral agreement that will enhance political co-operation, and increase trade and investment. The negotiations are aimed at opening new prospects for EU-Ukraine relations, including also a Free Trade Area and a deeper partnership on energy. However, establishment of a Free Trade Area, which will be an integral part of the Agreement, will be negotiated only once Ukraine has finalised its accession to the World Trade Organisation, expected by the end of 2007. It is expected that the new agreement will be finalised by the end of 2008, which is the tenth anniversary of the current EU-Ukraine partnership and co-operation agreement.