The Ukrainian government is ready to work closely with the EU to conduct reforms aimed at stabilizing the economic and financial situation in Ukraine.

Ukrainian First Deputy Prime Minister Serhiy Arbuzov said this at a meeting with Vice-President of the European Commission and Commissioner for Economic and Monetary Affairs and the Euro Olli Rehn in Brussels on Monday.

"Serhiy Arbuzov informed the European side about the course of negotiations with the International Monetary Fund. He also stressed the importance of supporting the stability of the Ukrainian financial and economic system of the practical implementation of the programs of macro-financial assistance to Ukraine the agreements on which were signed during the EU-Ukraine summit on February 25. In this regard, Ukraine's first deputy prime minister assured Olli Rehn of the readiness of the Ukrainian government to work closely with the EU to reform the management of public finances, improve legislation on public procurement and improve the business climate in Ukraine," Arbuzov's press service reported.

The sides also stressed the importance of the future EU-Ukraine Association Agreement, including the creation of a deep and comprehensive free trade area, in order to improve the investment climate in Ukraine and macroeconomic figures, modernize the economy and improve its competitiveness.

"Serhiy Arbuzov and Olli Rehn emphasized their readiness to make every effort to ensure the signing of the agreement at the Eastern Partnership summit in Vilnius [this November]," reads the statement.

Ukrinform