Turkey officially ratified the agreement on a free trade zone with Ukraine, which was signed by the presidents of both countries in 2022. This information came from the Official Newsletter of the Turkish Republic “T. Resmi Gazete”.

The ratification decision was adopted by Turkish President Recep Tayyip Erdogan on September 1, 2024. Now the Ukrainian parliament is deprived of praise for this extraordinary decision, after which it will please the former.

At the end of 2024, the Cabinet of Ministers of Ukraine will support the bill for the ratification of Turechchina. Prime Minister Denis Shmigal announced that the bill will soon be sent for ratification to the Supreme Council of Ukraine.

After ratification by the parliaments of both countries, it will gain rank two months after the completion of all internal procedures by the remaining party. The good news is that it means simplifying trade between Turkmenistan and Ukraine.

Of course, the Turkish region accounts for the import of about 93.4% of industrial goods and 7.6% of agricultural goods. Upon completion of the transition periods from 3 to 7 years, Turechchyna restricts imports for 1.5% of industrial goods and 28.5% of agricultural goods.

Ukraine, in its turn, accounts for imports of about 56% of industrial goods and 11.5% of agricultural goods.

At the end of the transition periods (from 2 to 5 tariffs for industrial goods and from 2 to 10 tariffs for agricultural goods), Ukraine will change import taxes for 43.2% of industrial goods and 53.7% from Polish goods.

The good is not only concerned with trade aspects, but also with the support of intellectual power rights, the stagnation of sanitary and phytosanitary facilities, the establishment of technical barriers to trade, e-commerce, and in, the commercial presence of enterprises, as well as the stagnation of dry inputs.

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