On March 20, the United Kingdom signed a key digital trade agreement with Ukraine, which will support the country’s economy and significantly strengthen British-Ukrainian trade and investment relations. This was reported by the press service of the British government. Business and Trade Minister Kemi Badenoch said the signed agreement paves the way for a new era of modern trade between the UK and Ukraine.
Thus, thanks to the signed agreement, Ukraine will receive guaranteed access to financial services, which are crucial for the country’s recovery, by simplifying cross-border data flows.
Ukrainian businesses will also be able to trade with the country more efficiently and cheaperly through electronic transactions, electronic signatures and electronic contracts.
Deepen economic ties with Ukraine
According to the statement on the British Government’s website, the agreement will modernise bilateral trade in the digital era and deepen British economic ties with Ukraine. Ukrainian and British businesses and consumers will benefit from:
- open digital markets, including the guaranteed tariff-free flow of digital content
- guaranteeing the flow of trusted data
- collaboration between the UK and Ukraine on cybersecurity
- cheaper and easier trade through the adoption of digital trading systems
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