Ukraine’s Government Approves Ratification of Free Trade Agreement with Turkey

by Roman Cheplyk
Tuesday, May 7, 2024
1 MIN
Ukraine’s Government Approves Ratification of Free Trade Agreement with Turkey

The Cabinet of Ministers of Ukraine has given its approval to a draft law for the ratification of the Free Trade Agreement with the Republic of Turkey

This announcement was made by the government's representative in the Verkhovna Rada, Taras Melnychuk, on Telegram.

"The draft law aims to ratify the Free Trade Agreement between the Government of Ukraine and the Government of the Republic of Turkey, signed on February 3, 2022, in Kyiv. The implementation of this agreement is expected to enhance bilateral trade and economic cooperation, offering Ukrainian producers benefits from the liberalization of Turkey's goods and services markets. It presents an opportunity for Ukrainian businesses to expand their markets and to modernize and develop their production capabilities," Melnychuk explained.

Prime Minister Denys Shmyhal, during the Cabinet meeting, highlighted that the agreement would eliminate tariffs on a substantial range of Ukrainian goods, including 93% of industrial products. The draft law will now be forwarded to the parliament for further consideration, as per the report on the Government portal.

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