Ukraine, Turkey finalizing bilateral FTA

Ukraine and Turkey finalizing bilateral FTA / Photo from UNIAN

Ukraine 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.

Read also Ukraine, Turkey start talks on re-launch of flights, tourist trips 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.

Reporting by UNIAN

Unian

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