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Free Trade Agreement with Turkey may be signed by end of year – Prime Minister

On 28 March, Volodymyr Groysman announced the final stage of signing a similar deal with Israel
17:37, 16 April 2018

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The Ukrainian government intends to sign a free trade agreement with the government of Turkey, following a similar deal with the European Union, Canada, and Israel. The announcement was made by the Prime Minister of Ukraine Volodymyr Groysman on the air of a Ukrainian TV channel, UkrAgroConsult has informed citing the website of the Ukrainian Cabinet of Ministers, UNIAN reports.

Related: Ukraine, Turkey and Azerbaijan to create regional alliance

“We aim to sign a free trade agreement with Turkey by the end of the current year. This is expected to have a positive impact on the nation’s economy, and, particularly, on the living standards of Ukrainian citizens,” the Prime Minister said.

Earlier, on 28 March, Volodymyr Groysman announced that his government and its Israeli counterpart had reached the final stage of negotiations on signing the agreement on the creation of a free trade area between the two countries. According to the Prime Minister, the agreement could benefit Ukraine to the tune of $800 million.

Related: Ukraine, Turkey sign a number of agreements

On the other hand, the Free Trade Agreement between Ukraine and Canada was signed in 2017. The bilateral trade in goods and commodities has risen by 60%, according to the President of Ukraine Petro Poroshenko.

When the presidents of Ukraine and Turkey met in October 2017, Petro Poroshenko noted the importance of Turkey as Ukraine’s trade partner: Turkey has entered Top-5 trade partners and Top-10 investors of Ukraine. The two presidents announced mutual plans to raise bilateral trade between the nations to $10 billion.

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