Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
On March 13, after meeting with Türkiye's SA516 Grade 450 steel Minister of Trade Omer Borat and Türkiye's industrialists in Ukraine, Ukrainian President Vladimir Zelensky said that Ukraine was ready to ratify the free trade agreement with Türkiye.
Previously, Türkiye had adopted a presidential decree in August, announcing and approving the free trade agreement signed with Ukraine in the official gazette. According to the official data of Türkiye's Ministry of Trade, after the FTA comes into force, Ukraine SA516 Grade 450 steel will cancel some tariffs on Türkiye's goods, and the rest will also be cancelled after the transition period. At the same time, Türkiye will also eliminate import tariffs on Ukrainian agricultural and industrial products, including steel.
In 2021, Türkiye will import 1.17 million tons of hot rolled coils from Ukraine, and by 2024, this number will drop sharply to 6000 tons. Türkiye's exports of hot rolled coils to Ukraine will grow from 3300 tons in 2021 to 263000 tons in 2024. In terms of scrap trade, Ukraine will supply 494000 tons of scrap steel to Türkiye in 2021, which is one of the important scrap steel suppliers to Türkiye. However, by 2024, Türkiye will import only 5000 tons of scrap steel from Ukraine, which will significantly reduce Ukraine's supply position.
In recent years, there have been significant changes in the trade structure between the two countries. The implementation of the Ukraine Turkey Free Trade Agreement is expected to inject new vitality into bilateral trade, promote trade volume growth and industrial SA516 Grade 450 steel cooperation.
