Türkiye and Ukraine will conclude a free trade agreement. This is the opposite of the EU deal

As we read on the Latifundist website, the governments of Ukraine and Turkey have agreed on the final content of the free trade agreement between the countries. It still needs to be approved by the parliaments of both countries. However, we can talk about trade liberalization in relation to industrial products, not agricultural products. Both countries approach this issue extremely carefully.

Import code control

According to the Ukrainian Ministry of Economy, the agreement assumes that Turkey will abolish import duties on approximately 93.4% of industrial goods, but only 7.6% of agricultural goods. After the 3-7-year transitional periods stipulated in the agreement, Turkey is to abolish import duties on another 1.5% of industrial goods and 28.5% of agricultural goods.

Ukraine, in turn, will abolish import duties on approximately 56% of industrial goods and 11.5% of agricultural goods imported from Turkey. It imposed transition periods on another 43.2% of industrial goods and 53.7% of agricultural products: 2-5 years for industrial goods, 2-10 years for agricultural goods. The agreement is to enter into force 2 months after ratification by the parliaments of both countries.

Transit – yes, import is another matter

It is worth mentioning that a separate agreement regulates the rules of visa-free freight transport between both countries. It was extended on March 1 and is to last at least until the end of the war in Ukraine.

“The Free Trade Agreement between Ukraine and the Republic of Turkey will open up new opportunities for duty-free or partially duty-free trade between our countries, in particular it will simplify logistics, as this is an important condition for the work of Ukrainian business in times of war, and will also contribute to attracting mutual investments.” – said the First Deputy Prime Minister of Ukraine – says the Minister of Economy of Ukraine Yulia Svyridenko.

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