Economy Ministry says Ukraine-UK agreement to facilitate domestic goods exports

Ukraine's Ministry for Development of Economy, Trade and Agriculture says 98% of all Ukrainian goods will have free access to the United Kingdom market, after the transition period stipulated by the agreement on the UK's withdrawal from the European Union is over, with another 2% liberalized exports expected from 2023.

Read alsoUkraine, UK sign major deal on strategic partnership"The agreement provides for the liberalization of trade in goods and services between Ukraine and the United Kingdom at a level not lower than that envisaged by the EU-Ukraine Association Agreement. From the date of entry into force of the agreement, 98% of the product range will be fully liberalized [for exports] for Ukraine, with another 2% from 2023," the ministry's press service said on its website on October 8.

The new deal will ensure the further development of relations between the countries, including the bilateral trade, the press service added.

Ukraine's Deputy Minister for Development of Economy, Trade and Agriculture and Trade Envoy Taras Kachka says the agreement guarantees Ukraine preferential access to the UK market and is an important component of the mutually beneficial relations. In particular, quotas on some goods will increase from 13% to 20% to stimulate Ukrainian exports. Moreover, the terms of access to the UK and EU markets will be rapidly expanded, as the revision of the Agreement is expected as early as in 2022.

The number of tariff quotas for Ukraine is 36, plus extra four. The UK side also sets additional zero tariff quotas since they are provided under the EU-Ukraine Association Agreement, the report said.

Ukraine-UK Agreement

On October 8, Ukrainian President Volodymyr Zelensky and Prime Minister of the United Kingdom of Great Britain and Northern Ireland Boris Johnson signed an agreement on political cooperation, free trade and partnership between the states.

Zelensky during a meeting with Boris Johnson in London said Ukraine also needed a NATO Membership Action Plan (MAP).