The European Neighbourhood Policy (ENP) provides the establishment of a new type of bilateral agreements between the EU and the ENP countries in order to re-place the existing agreements between the European Union and its neighbours in the Eastern Europe and in the Mediterranean region. In January 2007 the Council adopted negotiating directives for a new enhanced agreement between the Euro-pean Union and Ukraine. The decision follows a previous recommendation of the Commission that a new agreement should be binding and is to be permanent. The new agreement with Ukraine has a significant importance. This is one of the first agreements of the new generation of the Neighbourhood Policy. The purpose of this thesis is to investigate the Association Agreement (AA) between the EU and Ukraine in the view of the possible contours and content of a new con-tractual framework. The AA is the first agreement based on a political association between the EU and a country of the Eastern Partnership. There is no precedent in this scope and depth. The main content focuses on the implementation and promotion of the reforms, eco-nomic recovery and growth, sectoral cooperation in the following areas: energy, transport, environmental protection, industrial cooperation, social development, hu-man rights, consumer protection, education, cultural cooperation. Of great importance in the AA are the values and principles of European integration, as for example: democracy, the rule of law, human rights and fundamental free-doms, good governance, market economy and sustainable development. In addi-tion, the AA provides for the enhanced cooperation in matters of security, foreigners and energy policy. The investigation to the first research question, whether the AA is an established legal instrument of the EU enlargement strategy, has showed that an AA between the EU and third countries is one of the most popular instruments of EU external policy and the expansion strategy. The new generation of the EU AA with the east-ern neighbours will replace the expired partnership agreements.The investigations to the second research question, what is the impact of the AA and of the integration course into the EU for Ukraine, led to the following findings. Participation in the DCFTA with the EU extends the choice of consumers on the domestic market, fosters modernisation and innovation.Ukraine can have the benefits of liberalisation in the long-term scope in the following areas: introduction of the European norms, standards of technical regulation and consumer safety. Important positive effects include improvements in the energy ef-ficiency, energy saving and environmental friendliness of the economic develop-ment.On the other hand, the non-competitive companies will have to be closed because of the provisions of the DCFTA, furthermore a reduction of the budget revenues with a simultaneous growth of public spending because of the restructuring of the econ-omy are expected.Possible introduction of the restrictive measures in respect of Ukraine by the coun-tries of the Customs Union can be a further negative effect of the DCFTA.In relation to the third research question, to what extent the requirements of the AA can be implemented by Ukraine, the analysis shows that the necessary reforms in many areas of economic, political and social life are very difficult to implement and involve the enormous costs. Moreover than that, there is no clear strategy for the implementation of these requirements. The success of the AA is therefore question-able. In addition, Ukraine should find a balance between the rapprochement with the EU and the reconstruction of good relations with Russia to achieve the optimal results. This is the only way for Ukraine to be successful. The problem of optimization of the cooperation between the EU, Ukraine and Russia can be dwelled as a topic for further research.