The free trade agreement between Ukraine and Turkey will contribute to attracting investment and reconstruction.

The Ukrainian Ambassador to Turkey, Vasyl Bodnar, said that because of the free trade agreement with Turkey, Ukrainian manufacturers will have access to the Turkish market, which tends to be more closed; more than 90% of the industrial group and about 8% of the agricultural group of Ukrainian goods fall under the zero import duties rate. After 3-7 years of transition, Turkey will cancel import duties for another 1.5% of industrial goods and 28.5% of agricultural goods.

The agreement will also provide an opportunity to attract Turkish investment, create progressively developing industrial parks in Ukraine, and involve Turkish businesses in Ukraine’s reconstruction.

According to the diplomat, the creation of industrial parks in Ukraine following Turkey’s example is essential both for Ukraine’s reconstruction and the transformation of our country into a powerful industrial state.

Earlier, the Turkish parliament completed the ratification procedure of the free trade agreement between Ukraine and Turkey last month, and a decision from the Ukrainian parliament is expected soon.