Turkish businesses waiting for Ukraine's FTA ratification – TUID

Burak Pehlivan, head of the Turkish-Ukrainian Business Association (TUID), said this in an interview with Ukrinform.

Pehlivan noted that Turkey ratified the agreement in 2024 and emphasized that Turkish businesses are waiting for Ukraine's ratification.

He also expressed confidence that trade between Turkey and Ukraine would continue to grow. Comparing trade relations to a large shared "pie," he explained that the priority is not who gets a bigger share but increasing its overall size.

Pehlivan said that despite the FTA not yet being in effect, Turkey achieved a trade surplus with Ukraine for the first time in 33-34 years in 2024, whereas previously, Ukraine always had a positive trade balance.

According to him, signing the agreement is a step in the right direction for the economic relations between the two countries. However, he acknowledged that the process of ending the war and achieving peace would also impact its implementation.

Turkey ratified the Free Trade Agreement with Ukraine at the end of last year.