UK Extends Duty-Free Trade with Ukraine until 2029

The United Kingdom and Ukraine have extended the agreement on the elimination of import duties and tariff quotas in trade until 2029. It covers all types of goods except poultry meat and eggs, for which this agreement will remain in effect until 2026. This was announced on the official website of the Government of the United Kingdom.

Removing trade barriers is part of the government's strategy aimed at supporting Ukraine, along with military, humanitarian, and economic assistance. The decision to abolish import duties and tariff quotas is legally enshrined in the agreement on political cooperation, free trade, and strategic partnership. It is worth noting that the United Kingdom was the first country to abolish trade tariffs for Ukraine in 2022, and now it is the first to extend this initiative for such a long term. 

"This agreement provides long-term economic support to Ukraine, its businesses, and population, which is crucial for its recovery after Putin's illegal invasion. The UK will continue to do everything in its power to support Ukraine's fight against Putin's aggression for as long as necessary," said Greg Hands, Minister of Trade Policy of the United Kingdom. 

UK is an important trading partner for Ukraine. Ukrainian companies traditionally export flour, grain, dairy products, poultry meat, semifinished products, tomato paste, honey, corn, wheat, juices, mushrooms, and sugar to the United Kingdom. The agreement between Ukraine and the United Kingdom is bilateral, meaning that British companies can also take advantage of duty-free trade opportunities with Ukraine. Among the imported goods from the United Kingdom to Ukraine are vehicles, machinery, various chemical and pharmaceutical products. 

Recall that The Gaze reported in January 2024 that Ukraine had reached pre-war levels of maritime exports, bringing its overall volume almost to pre-war levels. As stated by the Ukrainian government, over 660 vessels have already passed through the new grain corridor, transporting about 20 million tons of cargo to 32 countries worldwide. About 70% of these cargoes are agricultural products from Ukrainian producers.