Govt ratifies free trade agreement with Ukraine

Turkey has officially ratified the free trade agreement with Ukraine, as announced in the country's official gazette. Signed on February 3, 2022, the agreement received final approval from President Recep Tayyip Erdogan and its annexes on August 1.

According to the Turkish Trade Minister, bilateral trade between Turkey and Ukraine reached USD 7.3 bln in 2023. The free trade agreement is expected to boost this volume to USD 10 bln in the near future.

Key trade sectors between the two nations include iron and steel, machinery, energy, automotive, and grain.