UK Extends Duty-Free Trade with Ukraine for Five More Years

by Roman Cheplyk
Thursday, February 8, 2024
UK Extends Duty-Free Trade with Ukraine for Five More Years

The United Kingdom has announced the extension of its duty-free trade agreement with Ukraine for an additional five years, as confirmed by the country’s Ministry of Business and Trade on February 8

This extension is aimed at supporting Ukrainian businesses impacted by the ongoing war, representing the most comprehensive customs relief provided by any nation to date. The duty-free arrangement covers the majority of goods, with the exceptions of eggs and poultry.

The agreement's renewal is scheduled to be formalized through a remote signing ceremony today, featuring Minister Greg Hands from the UK and Ukraine's Minister of Economy, Yulia Svyridenko. This move underscores the UK's commitment to providing sustained economic aid to Ukraine during its recovery from the repercussions of the war initiated by Russia.

Minister Hands highlighted the significance of this agreement in offering crucial long-term support to Ukraine, emphasizing the UK's resolve to back Ukraine's resistance against the invasion. Initially introduced in May 2022, the duty-free trade agreement was originally set to conclude on March 31, 2024, before this extension.

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