Turkey ratified the Free Trade Agreement with Ukraine

The agreement provides for the abolition of import duties by Turkey for about 93,4% of industrial goods and 7,6% of agricultural goods.

Turkey ratified the free trade zone agreement with Ukraine. This was reported by Hurriyet Daily News.

As you know, the FTA agreement was signed on February 3, 2022, and preparations for this took 15 years. Turkish President Recep Tayyip Erdogan approved the agreement with the annexes on August 1.

At a meeting on May 7, the Government of Ukraine approved the draft law on the ratification of the free trade agreement between Ukraine and Turkey and submitted it to the Verkhovna Rada, but the vote has not yet taken place.

The agreement provides for the abolition of import duties by Turkey for about 93,4% of industrial goods and 7,6% of agricultural goods.

After transitional periods (three to seven years), Turkey will also abolish import duties for another 1,5% of industrial goods and for 28,5% of agricultural goods.

The document also provides that Ukraine will abolish import duties for about 56% of industrial goods and 11,5% of agricultural goods, and after transitional periods (2-5 years for industrial goods, 2-10 years for agricultural goods) for another 43,2 .53,7% of industrial goods and XNUMX% of agricultural goods.