Prime Minister of Ukraine Denys Shmyhal and Turkish Trade Minister Mehmet Mus signed an agreement on a free trade zone between the countries.
The agreement was signed in Kyiv on Thursday in the presence of Ukrainian President Volodymyr Zelensky and Turkish President Recep Tayyip Erdogan following the results of negotiations between the parties.
It is expected that the agreement on a Free trade area between the countries will bring an additional 2% of GDP annually.
“During our talks, we touched upon all aspects of our bilateral relations, considered the steps that can be taken to bring our trade balance to $10 billion, which showed a 60% growth last year and reached $7.5 billion. I sincerely believe that the free trade area (FTA) agreement that has just been signed will allow us to achieve this goal quickly,” Erdogan said at a joint briefing with the Ukrainian president in Kyiv.
In turn, Zelensky noted that a trade turnover of $10 billion is a realistic goal.
“Even before the signing of the agreement, our mutual trade set a record and grew last year to $7 billion. More than half. This is proof that our goal, our agreement and the desire of both countries – and this is $10 billion – is more than real,” the president of Ukraine said.
According to him, the FTA agreement will open up new business opportunities for both countries, increase investment, profits and jobs.
Erdogan also noted that one of the most important pillars of economic cooperation between the countries is Turkish investors in Ukraine.