Ukraine is working on a free trade agreement with Turkey, which will abolish more than 90% of tariffs on industrial goods.

The government has approved and submitted to the Ukrainian Parliament a draft law for the ratification of a free trade agreement between Ukraine and Turkey. The countries signed the agreement in Kyiv on February 3, 2022.

According to the Ministry of Economy, the document envisages Turkey’s abolition of import duties for 93.4% of industrial goods and 7.6% of agricultural goods. After the transitional periods expire in 3-7 years, Turkey will cancel import duties for another 1.5% of industrial goods and 28.5% of agricultural goods.

For its part, Ukraine will cancel import duties for about 56% of industrial goods and 11.5% of agricultural goods. After the expiration of the transitional periods (2-5 years for industrial goods, 2-10 years for agricultural goods), Ukraine will abolish import duties for 43.2% of industrial goods and 53.7% of agricultural goods.