Türkiye ratifies free trade agreement with Ukraine
Türkiye officially ratified a free trade agreement with Ukraine on Friday. Signed in February 2022 and approved by President Recep Tayyip Erdoğan, the agreement aims to increase bilateral trade from $7.3 billion in 2023 to $10 billion, focusing on sectors like iron-steel, machinery, energy, automotive, and grain.
- Türkiye
- Anadolu Agency
- Published Date: 10:20 | 02 August 2024
- Modified Date: 10:20 | 02 August 2024
Türkiye has ratified the free trade agreement with Ukraine, according to the country's official gazette on Friday.
The agreement was signed on Feb. 3, 2022, and President Recep Tayyip Erdoğan approved the deal and its annexes on Thursday.
Türkiye and Ukraine's bilateral trade volume was $7.3 billion in 2023, Turkish Trade Minister Omer Bolat said on Thursday after meeting Yulia Svyrydenko, the first deputy prime minister of Ukraine.
He stressed that the FTA is expected to increase the volume to $10 billion in a short period.
Main trade fields between the two countries are iron-steel, machinery, energy, automotive and grain.