The President of Ukraine has signed a law ratifying the Free Trade Agreement with the Government of the Republic of Turkey.

The agreement will promote the development of bilateral cooperation and provide an opportunity to develop and modernise domestic production.

Ratification of the agreement will open up for Ukrainian business the opportunity to operate in one of the largest markets in the region.

A key element of the agreement is the creation of conditions for the development of Ukraine’s processing industry.

The agreement will also help Ukraine approach future membership of the European Union already possessing export experience, established partnership ties and logistics.

Another important aspect of the document is its significance for Ukraine’s European integration. The agreement provides for the application of the provisions of the updated Regional Convention on pan-Euro-Mediterranean preferential rules of origin. This will enable Ukrainian producers to use Turkish materials and components while retaining the preferential origin of goods for export to EU countries.

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