FTA between Ukraine, Türkiye may become functional in coming months

FTA between Ukraine, Türkiye may become functional in coming months

During a meeting of Ukraine and Türkiye delegations led by the Deputy Prime Minister for the Reconstruction of Ukraine Oleksandr Kubrakov and Minister of Trade of Türkiye Omer Bolat in Istanbul on January 31, a roadmap was laid down for the Free Trade Agreement to enter into force, which may take place in the coming months.

Bolat said this at the Ukraine Reconstruction Forum, which took place in Istanbul, Ukrinform reports.

“Although there will be a slight decline in 2023, our mutual trade is approaching $7.5 billion. Our objective, as stated by our presidents, is to reach $10 billion in bilateral trade as soon as possible. To this end, the Free Trade Agreement signed by the two countries in 2022 is of great importance. We defined a roadmap with Mr. Kubrakov at official bilateral meetings on the issue," Bolat said.

Read also: Ukraine, Turkey set up joint working group on reconstruction

The Turkish minister also expressed hope that the Free Trade Agreement between Türkiye and Ukraine would enter into force in the coming months after parliaments complete its ratification.

As Ukrinform reported earlier, Ukraine and Türkiye signed an agreement on free trade between the two countries on February 3, 2022. The signing took place in the presence of President of Ukraine Volodymyr Zelensky and President of the Republic of Türkiye Recep Tayyip Erdogan. The agreement is awaiting ratification by the two parliaments.

Photo by Olha Budnyk

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