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Ukraine, Turkiye ready to ratify free trade agreement

December 13, 2023 at 11:07 am

Yulia Svyrydenko, Ukrainian Economy Minister, on September 20, 2023 [Maxym Marusenko/NurPhoto via Getty Images]

Ukraine and Turkiye are ready to ratify a free trade agreement “in the nearest future” which would come into force at the beginning of 2024, Ukraine’s economy ministry said today.

“The free trade agreement will … simplify logistics issues, promote the development of Ukrainian business in wartime conditions, and also open up new opportunities in Ukraine for our partners from Turkiye,” the statement quoted Economy Minister Yulia Svyrydenko as saying.

Turkiye has been balancing Russia-Ukraine relations, publicly declaring its support for Ukraine while at the same time avoiding a direct clash with Moscow. It positioned itself as a key mediator after the February 2022 Russian invasion of Ukraine and brought about grain deals which allowed trade to continue in spite of the war.

As a result, Ankara has succeeded in maintaining relations with both Moscow and Kyiv.

READ: Turkiye to host a gathering of allies to discuss peace in Ukraine