Economy Ministry: 98% of Ukrainian goods to receive access to British market

Economy Ministry: 98% of Ukrainian goods to receive access to British market

Ukrinform
Due to the signed Agreement on Political Cooperation, Free Trade, and Strategic Partnership between Ukraine and the United Kingdom, about 98% of all Ukrainian goods will have free access to the market of this country.

The press service of the Ministry for Development of Economy, Trade and Agriculture of Ukraine wrote about this on its Facebook page.

The ministry noted that the Agreement will ensure further development of Ukraine's relations with the United Kingdom after the end of the transition period provided for in the Agreement on the withdrawal of the UK from the EU. 

“The signing of this Agreement guarantees preferential access for Ukraine to the British market, which is an important component of the development of mutually beneficial relations between the countries. In particular, quotas for some goods will grow from 13% to 20%, which will stimulate Ukrainian exports. In addition, the conditions of access to the British and EU markets will be rapidly expanded, as its revision will take place as soon as in 2022,” Deputy Minister for Development Economy, Trade and Agriculture Taras Kachka said.

In particular, the Agreement provides for the level of liberalization of conditions of trade in goods and services between Ukraine and the United Kingdom at a level not lower than that envisaged in the Association Agreement between Ukraine and the European Union. From the entry into force of the Agreement on Political Cooperation, Free Trade, and Strategic Partnership between Ukraine and the United Kingdom, 98% of the product range will be fully liberalized, another 2% of goods will be liberalized for Ukraine from 2023. The number of tariff quotas for Ukraine is 36 + 4 additional. Zero tariff quotas are set by the British side in addition to those provided under the Association Agreement between Ukraine and the EU.

As reported by Ukrinform, Ukrainian President Volodymyr Zelensky and British Prime Minister Boris Johnson signed the Agreement on Political Cooperation, Free Trade, and Strategic Partnership in London on October 8.

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