Ukraine, UK to simplify mutual access to public procurement market

Ukraine and the United Kingdom have updated the Political, Free Trade and Strategic Partnership Agreement and approved the simplification of access to the public procurement market.

According to Ukrinform, the Ministry of Economy of Ukraine said this in a statement.

"Ukraine's First Deputy Prime Minister, Minister of Economy Yulia Svyrydenko and British Ambassador to Ukraine Melinda Simmons signed Annex II to the Political, Free Trade and Strategic Partnership Agreement between Ukraine and the United Kingdom of Great Britain and Northern Ireland. The document approves the simplification of mutual access to the public procurement market," the report said.

In particular, the value thresholds of procurement were revised and the currency used for their calculation was changed from the Euro to the Special Drawing Rights (IMF). In addition, clauses on the mutual application of public procurement in the provision of medical services will be streamlined.

According to the report, Ukraine and the UK plan to further develop the contractual and legal framework that will promote bilateral trade and strengthen ties between Ukrainian and British businesses.

In May this year, Ukraine and the UK legally confirmed the abolition of import duties and tariff quotas in bilateral trade.