Historic Digital Trade Agreement between Ukraine and UK Enters into Force

The Digital Trade Agreement between Ukraine and the United Kingdom of Great Britain and Northern Ireland entered into force on Sunday 1 September.

This was reported by the Ministry of Economy of Ukraine.

As noted, Ukraine became the second country after Singapore to sign such an agreement with the UK.

First Vice Prime Minister and Minister of Economy Yulia Svyrydenko is confident that the implementation of this agreement will deepen Ukraine's participation in global supply chains and promote the development of small and medium-sized businesses.

According to Svyrydenko, the agreement will also preserve free access of Ukrainian IT companies to the UK's digital markets and provide support to the economy during the war and post-war reconstruction.

It is noted that the implementation of this document will reduce administrative costs, strengthen cybersecurity and data protection.

The agreement was signed online on 20 March 2023 by Svyrydenko and Kemi Badenoch, President of the UK's Board of Trade and Minister for Women and Equalities.

In April 2022, the UK cancelled all duties and restrictions on Ukrainian exports under the free trade agreement.