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Ukrainian ferroalloy producers warn of negative consequences of agreement with Turkey

Ukraine / Business and Finance

The association of producers of ferroalloys and other electrometallurgical products is not sure whether the signing of the Free Trade Agreement with Turkey will be aimed at supporting, rather than creating barriers for the Ukrainian producer.

Ukrainian ferroalloy producers warn of negative consequences of agreement with Turkey

Today, the Ukrainian Association of Producers of Ferroalloys and Other Electrometallurgical Products once again appealed to the government of Ukraine in connection with the preparations for the conclusion of an Agreement on a free trade zone with Turkey.

In previous appeals, ferroalloy producers have already noted the need to remove any restrictive measures from Turkey, which may further damage the economy of Ukraine and its industrial complex.

The association recalled that back in 2018, Ukraine was excluded from the list of countries to which Turkey provided advantages for exporting products and guaranteed the absence of restrictive measures under the Generalized System of Preferences. As a result, import duties began to apply to the products of Ukrainian ferroalloy enterprises exported to the Turkish market, and domestic ferroalloy enterprises were forced to significantly reduce their share of their presence in the Turkish market, while the share of products of other major global manufacturers in this market increased significantly.

“Today, the level of customs and tariff protection of the Turkish domestic market is too high and, unfortunately, if the position of the domestic manufacturer is not taken into account, the signing of the said Agreement will contribute to an increase in Turkish imports to the territory of Ukraine, in contrast to the level of Ukrainian exports , the volume of which will only decrease,” the Association noted.

Ukrainian ferroalloy producers expect that the fact that Ukraine currently does not have tariff preferences will be taken into account when agreeing on trade positions, and the signing of the Free Trade Zone Agreement with Turkey will be aimed at supporting, and not at creating barriers for domestic producers, and will not entail undesirable and unexpected negative consequences for the Ukrainian economy.

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