Turkey Ratifies Free Trade Agreement with Ukraine
Turkey has ratified the free trade agreement with Ukraine, which was signed in early 2022.
This is reported by the Daily News Hurriyet.
The agreement was signed on 3 February 2022, and now Turkish President Recep Tayyip Erdogan has approved it.
The volume of bilateral trade between Turkey and Ukraine in 2023 was $7.3 billion, Trade Minister Omer Bolat said on 1 August.
He stressed that the free trade zone is expected to increase volumes to $10bn in a short period of time. Bolat noted that Turkey and Ukraine will continue to strengthen cooperation and increase mutual trade and investment based on common interests.
"Turkish companies will be actively involved in the implementation of the Turkish-Ukrainian working group on the restoration of Ukraine, which we jointly signed in Istanbul in January this year," he added.
Ukraine's Economy Minister Yulia Svyrydenko noted that the completion of the ratification of the free trade agreement with Turkey will unite all Black Sea countries, with the exception of Russia, into a single economic space that is mutually beneficial for all countries.
As The Gaze previously reported, the Hetman Ivan Vyhovsky corvette was built in Turkey for Ukraine.