The agreement provides for Turkey to eliminate import duties on approximately 93.4% of industrial products and 7.6% of agricultural products.
Turkey has ratified a free trade agreement with Ukraine. This was reported by Hurriyet Daily News.
The FTA agreement was signed on February 3, 2022, and the preparation for it took 15 years. Turkish President Recep Tayyip Erdogan approved the annexes agreement on August 1.
At a meeting on May 7, the Government of Ukraine approved a bill on the ratification of the free trade agreement between Ukraine and Turkey and it was submitted to the Verkhovna Rada, but the vote has not yet taken place.
The agreement provides for Turkey to eliminate import duties on approximately 93.4% of industrial products and 7.6% of agricultural products.
After transition periods (three to seven years), Turkey will remove import duties on an additional 1.5% of industrial products and 28.5% of agricultural products.
The document also provides that Ukraine will eliminate import duties for about 56% of industrial goods and 11.5% of agricultural products, and after transition periods (2-5 year for industrial goods, 2-10 years for agricultural products) – for another 43 . 2% industrial and 53.7% agricultural products.
We remind you that Canada has started to ratify the updated FTA agreement with Ukraine.
Source: korrespondent
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