The Verkhovna Rada, Ukraine's parliament, has ratified the Free Trade Agreement (FTA) between the Government of Ukraine and the Government of the Republic of Turkey.
According to Ukrinform, on Tuesday, July 14, the parliament ratified the free trade agreement with Turkey, which was signed in Kyiv on February 3, 2022. The corresponding bill received the support of 236 MPs.
Under the agreement, Turkey will eliminate import duties on approximately 93.4% of industrial goods and 7.6% of agricultural products from Ukraine. After transitional periods of three to seven years, Ankara will abolish import duties on an additional 1.5% of industrial goods and 28.5% of agricultural products.
For its part, Ukraine will eliminate import duties on approximately 56% of industrial goods and 11.5% of agricultural products from Turkey. After transitional periods of two to five years for industrial goods and two to ten years for agricultural products, Kyiv will remove tariffs on an additional 43.2% of industrial goods and 53.7% of agricultural products.
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