Ukraine, Turkey finalizing bilateral FTA

The government also plans to expand the free trade area with Canada.Ukraine and Turkey finalizing bilateral FTA / Photo from UNIANUkraine and Turkey finalizing bilateral FTA / Photo from UNIAN

Ukrainian Prime Minister Denys Shmyhal says Ukraine is finalizing the procedure of signing a Free Trade Agreement (FTA) with Turkey.

He made the comment at a press conference on March 4.

“Last week and this week, the free trade agreement with Turkey is being finalized. We are [also] in talks on changes and expansion of a free trade area with Canada and a number of other states,” he added.

Background

  • In March 2016, Ukraine and Turkey resumed negotiations on a free trade area, which were suspended in 2013.
  • In November 2018, Turkish President Recep Tayyip Erdogan announced that work on the FTA with Ukraine should be completed by the end of the year.
  • In 2018, trade between the countries stood at about US$4 billion.
  • In February 2020, Ukrainian President Volodymyr Zelensky announced that Ukraine-Turkey trade should increase to US$10 billion.
  • On July 3, 2020, Ukrainian Foreign Minister Dmytro Kuleba said the FTA between Ukraine and Turkey might be signed by the end of 2020.
  • (C)UNIAN 2021

2 comments

  • Strong ties with Turkey is ok with me as long as the other Black Sea countries are on board and I think Ukraine, Turkey and Georgia should push very hard for a new Montreaux Doctrine to govern the Black Sea. Ships are bigger now and Moscow continues to be the only threat in the Black Sea so they need to be squeezed out like snake bite venom.

    Liked by 3 people

  • onlyfactsplease

    Free trade with as many countries as possible will ensure a successful country and a stronger economy. Yes, mafia land can and will be replaced.

    Liked by 2 people

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