The Verkhovna Rada of Ukraine has ratified the Free Trade Agreement between the Government of Ukraine and the Government of the Republic of Türkiye.

The agreement was signed on 3 February 2022 in Kyiv.

The free trade agreement between the two countries provides, in particular, for Turkey to eliminate import duties on approximately 93.4% of industrial goods and 7.6% of agricultural goods. After the end of the transitional periods (3–7 years), Ankara will cancel import duties on an additional 1.5% of industrial goods and 28.5% of agricultural goods.

In return, Ukraine will eliminate import duties on about 56% of industrial goods and 11.5% of agricultural goods. After the transitional periods (2–5 years for industrial goods and 2–10 years for agricultural goods), Kyiv will cancel import duties on an additional 43.2% of industrial goods and 53.7% of agricultural goods.

According to calculations, the signing of the document will cost Ukraine a 1.5% decrease in GDP in the medium term.

Reference source: http://surl.li/gggshewwjjdjjdddddddddddsf