Free Trade Agreement Between Turkey and Ukraine Enters into Force
The customs duty regulations of the agreement, which aims to increase the trade volume between the two countries to 10 billion dollars in the short term, will be implemented next year.
According to the statement made by the Ministry of Trade, the Turkey-Ukraine Free Trade Agreement officially entered into force as of October 1.
Effective Date of the Agreement and Customs Duty Regulations
The Ministry of Trade officially announced that the Free Trade Agreement between Turkey and Ukraine entered into force on October 1.
It was announced that customs duty regulations regarding trade in goods will be implemented as of January 1, 2027.
Trade Volume and the 10 Billion Dollar Target
Initially signed on February 3, 2022, the agreement aims to develop commercial relations between the two countries within a more predictable framework.
This agreement lays the groundwork for supporting the joint target of increasing the trade volume between the parties to 10 billion dollars in the short term.
Sensitive Sectors and Comprehensive Regulations
Prepared by taking into account the sensitive sectors of the parties, the agreement covers the fields of services and investments in addition to trade in goods.
The text also incorporates comprehensive regulations regarding e-commerce, trade facilitation, and customs cooperation.
Transportation and Competitive Advantage Details
Regulations aimed at conducting bilateral and transit transportation between Turkey and Ukraine without quotas aim to support commercial flows.
During Ukraine's EU integration process, the agreement will provide businesses with preferential trade opportunities, offering a competitive advantage against third-country suppliers.