Turkey ratifies free trade agreement with Ukraine

Turkey has ratified the free trade agreement with Ukraine, which was signed on 3 February 2022. President Recep Tayyip Erdogan approved the agreement and its annexes on 1 August.

This was reported by Hürriyet Daily News.

«The completion of the ratification of the free trade agreement with Turkey will unite all Black Sea littoral countries, with the exception of Russia, into a single economic space that is mutually beneficial to all countries.»

It is noted that the agreement provides for the abolition of import duties for 93.4% of industrial goods and 7.6% of agricultural goods.

It is also stated that Turkey and Ukraine will continue to strengthen cooperation and increase mutual trade and investment based on common interests.

«Turkish companies will take an active part in the implementation of the Agreement between Turkey and Ukraine on the restoration of Ukraine, which we mutually signed in Istanbul in January this year.»