Government supports draft law on ratification of free trade agreement with Turkey
The Cabinet of Ministers of Ukraine has approved a draft law on the ratification of the free trade agreement between Ukraine and Turkey.
Prime Minister Denys Shmyhal announced this in his Telegram message, Ukrinform reports.
"We supported the bill on the ratification of the free trade agreement between Ukraine and Turkey. Next, we will submit it to the Parliament," he wrote.
According to Shmyhal, Turkey is one of Ukraine's top five trading partners, so this agreement creates new opportunities for Ukrainian business.
"Duties on a significant number of Ukrainian goods, including 93% of industrial goods, will be cancelled," the Prime Minister added.
At the same time, the government's permanent representative in the Verkhovna Rada, Taras Melnychuk, said in a Telegram message that the draft law proposes to ratify the free trade agreement between the governments of Ukraine and Turkey signed on 3 February 2022 in Kyiv.
It is expected that the implementation of the agreement will contribute to the further development of bilateral trade and economic cooperation between the countries, allow domestic producers to benefit from the liberalisation of the Turkish goods and services markets and open up opportunities for Ukrainian businesses to expand their sales markets, as well as to develop and modernise their own production.
As Ukrinform reported, at the end of January this year, during a bilateral meeting of the delegations of Ukraine and Turkey headed by Vice Prime Minister for Reconstruction of Ukraine Oleksandr Kubrakov and Turkish Minister of Trade Omer Bolat in Istanbul, a roadmap for the entry into force of the Free Trade Agreement was defined.