Rada has ratified free trade agreement with Turkey
The Verkhovna Rada of Ukraine has ratified the Free Trade Agreement with the Republic of Turkey. The document was supported by 236 members of parliament, bringing the launch of a free trade area between the two countries a step closer.
According to Censor.NET, this refers to draft law No. 0340, which provides for the ratification of the Free Trade Agreement between the governments of Ukraine and Turkey.
According to the explanatory memorandum, the implementation of the agreement will promote the development of bilateral economic cooperation, open up new opportunities for Ukrainian businesses, help expand markets for Ukrainian products, and create further conditions for the development and modernisation of domestic production.
The first attempt was unsuccessful
In early July, the Verkhovna Rada had already attempted to ratify the document; however, at the last minute, Bill No. 0340 was withdrawn from consideration due to a lack of votes from members of parliament.
The negotiations lasted 15 years
Ukraine and Turkey signed the agreement establishing a free trade area in February 2022 – just a few weeks before the start of Russia’s full-scale invasion. Its signing marked the conclusion of nearly 15 years of negotiations between the two countries.
Once all the necessary procedures have been completed, the document should establish the legal framework for the full launch of the free trade area between Ukraine and Turkey.
