The Free Trade Agreement between Ukraine and Turkey, signed in Kiev on February 3, is the result of 15 years of negotiations and opens up many opportunities for Ukrainian businesses. This was reported by the government of Ukraine on Thursday evening.
In particular, it is indicated that as a result of the agreements reached, the metallurgical enterprises of Ukraine will be able to increase their exports to Turkey by at least 411 thousand tons annually. This is the quota for 167 goods fixed in the deal. For 510 out of 840 metallurgical goods, a zero duty is generally established.
At the same time, Ukraine retains duties on the export of scrap metal, used cars and second-hand goods, and establishes three and five-year transitional periods for duties on vehicles and light industry products. According to the government, this will protect the domestic producer.
“We will not only strengthen our economic presence in the Pan-Euro-Med region, but also use it as a bridge to develop new markets. Including - in the Persian Gulf and Southeast Asia. We will strengthen the strategic partnership between Ukraine and Turkey, as well as relations with the countries of the Black Sea basin. This is very important, given the intensification of aggression on the part of the Russian Federation,” said First Vice Prime Minister - Minister of Economy of Ukraine Yulia Sviridenko.
According to Oleksandr Kalenkov, president of the association of enterprises "Ukrmetallurgprom", the project presented by the Ministry of Economy took into account many proposals of metallurgists. Although metallurgists hoped for a complete zeroing of duties, because there are no discriminatory restrictions on Turkish metal from Ukraine, the signed agreement with Turkey is a step in the right direction.
“Ukrainian producers still bring a lot to Turkey - about 16% of all exports. So far, we are supplying semi-finished products in the processing mode, and the Turks export the rolled metal produced from them further, thereby keeping the added value for themselves,” Kalenkov noted. “The agreement signed by the presidents has yet to be ratified by the Verkhovna Rada, after which we can wish our metallurgists good luck in expanding their presence in the Turkish market!”
