Ukrainian Parliament ratifies free trade agreement with Turkey

The Ukrainian Parliament ratified the free trade agreement (FTA) signed with Turkey on July 14. The agreement between Ankara and Kyiv was signed on February 3, 2022, during President Recep Tayyip Erdoğan's visit to Ukraine.

The decision from Kyiv, following Turkey's ratification in October 2024, is considered a new phase in economic relations between the two countries. The agreement is expected to enter into force once the parties complete their internal ratification processes.

Trade Minister Ömer Bolat, in a social media post following the approval in Ukraine, stated, "Another historic threshold has been crossed in the Turkey-Ukraine Free Trade Agreement." Bolat noted that the agreement "opens the doors to a new era in economic and commercial cooperation between Turkey and Ukraine."

According to Bolat's statement, the agreement will provide for the mutual liberalization of approximately 90 percent of bilateral trade. The minister said this step would increase the competitiveness of Turkish exporters in the Ukrainian market and contribute to reaching the 10 billion dollar trade target set by the leaders of the two countries.

The trade volume between Turkey and Ukraine was approximately 6.6 billion dollars in 2025. In the Ministry of Trade's information note regarding the agreement, it was noted that the goal is for a portion of the customs duties applied by Ukraine to be lifted upon the agreement's entry into force, with a significant portion to be removed at the end of a transition period.

FİDAN'S KYIV CONTACTS EXPECTED

Following the ratification of the agreement in the Ukrainian Parliament, it was announced that Foreign Minister Hakan Fidan would also travel to Ukraine. Fidan had attended the Ukraine Volunteer Coalition summit held in Paris on July 13, representing President Erdoğan.

It was reported that the high-level contacts in Kyiv would take place within the scope of Ukraine's "Statehood Day," celebrated on July 15, and the Ukraine-Southeast Europe Summit. Fidan is expected to meet with Ukrainian President Volodymyr Zelenskyy and other high-level officials during his two-day visit.

News Source: 12punto