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Draft Free Trade Agreement between Ukraine and Türkiye Approved


On May 7, the Cabinet of Ministers of Ukraine approved the draft free trade agreement between Ukraine and Türkiye, laying the foundation for its entry into force. The agreement aims to promote the development of trade relations between the two countries, eliminate trade barriers, reduce business operating costs, and ultimately enhance national economic benefits by providing more favorable access conditions. Yulia Svydenko, Deputy Minister of Economy of Ukraine, stated that this will bring new trade opportunities to Ukrainian SS400 steel enterprises, and simplifying logistics is crucial for enterprises to attract two-way investment.

The main content of the agreement involves the abolition of import tariffs. Türkiye abolished 93.4% of import tariffs on industrial products and 7.6% of import tariffs on agricultural products, while Ukraine abolished 56% of import tariffs on industrial products and 11.5% of import tariffs on agricultural SS400 steel products. As the transition period ends, both sides will further cancel import tariffs, which are expected to gradually be achieved in the coming years.

After the agreement is approved by the parliaments of both countries, it will take effect within 2 months after the last party confirms the completion of domestic procedures. The implementation of this agreement will bring closer trade cooperation between Ukraine and Türkiye and create good conditions SS400 steel for economic growth and development of both sides.

  • Source: Abstract
  • Editor: Shirley

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