Türkiye ratifies free trade agreement with Ukraine
Turkiye has ratified the free trade agreement with Ukraine, which was signed back at the beginning of 2022. Source: Daily News Hurriyet Details: The agreement was signed on 3 February 2022, but Turkish President Recep Tayyip Erdogan only approved it and its annexes on 1 August of this year, Daily News Hurriyet reports.
Advertisement:The volume of bilateral trade between Turkiye and Ukraine reached US£7.3 billion in 2023, said Trade Minister Omer Bolat on 1 August.
He emphasised that the free trade zone is expected to boost trade volumes to US£10 billion in a short period. Bolat noted that Turkiye and Ukraine will continue to strengthen cooperation and increase mutual trade and investment based on shared interests. Quote: "Turkish companies will take an active part in the implementation of the Turkiye-Ukraine Task Force for the Reconstruction of Ukraine, which we mutually signed in Istanbul in January this year," he added.
Advertisement:Ukrainian Economy Minister Yuliia Svyrydenko noted that the completion of the free trade agreement ratification with Turkiye will unite all Black Sea countries, except Russia, into a single economic space, mutually beneficial for all involved nations.
Background:
- Ukraine and Norway have agreed to extend the possibility of transport without permits.
- Ukraine and the European Union extended the freight liberalisation agreement for another year, with the option of renewal.
Support UP or become our patron!