Turkey Ratifies Free Trade Agreement with Ukraine on August 1, 2024

Aug 2, 2024, 09:47 AM

Turkey has formally ratified a free trade agreement with Ukraine, which was initially signed on February 3, 2022. The ratification was completed on August 1, 2024, with Turkish President Recep Tayyip Erdoğan approving the agreement and its annexes. The agreement, reported by Hurriyet News, stipulates that Istanbul will cancel import duties for 93.4% of industrial goods and 7.6% of agricultural goods. Ukrainian Economy Minister Yulia Svyrydenko visited Turkey to discuss the ratification and strengthen economic cooperation between the two nations. The next step involves securing ratification from the Ukrainian parliament.