ODESA: Ukraine and Turkey have signed a free trade agreement. The corresponding document was signed on February 3 in Kiev.
The key position of this agreement is Turkey establishment of zero duties on 10 337 items. This is about 95% of the total goods exported by Ukraine. In addition, another 1.348 commodity items will be subject to tariff quotas or reduced duties.
Thus, Ukraine will receive improved conditions for access to the Turkish market for processed agricultural products.
The agreement also includes that the goods produced in Ukraine from Turkish raw materials will be considered Ukrainian. These goods will be able to enter the markets of European countries duty-free, in accordance with the EUR1 certificate.
The agreement will definitely have an overall positive effect on the Ukrainian economy. Industries working for export will create new jobs, generate added value and pay more taxes.
In addition, thanks to the signing of the document, the countries of the Black Sea region – Georgia, Moldova, Bulgaria, Romania, Turkey and Ukraine – will be united by free trade agreements with common rules.