Ukraine and Turkey are moving closer to launching a free trade zone

The Verkhovna Rada of Ukraine has ratified a free trade agreement with the Republic of Turkey. The resolution was approved by 236 members of parliament, paving the way for the agreements between the two countries to take effect.

The agreement provides for the creation of a free trade zone between Ukraine and Turkey, which is intended to promote the development of bilateral trade, expand exports, and strengthen economic cooperation between the two countries.

According to the explanatory note, the implementation of the agreement will promote the development of bilateral economic cooperation, open new opportunities for Ukrainian businesses, help expand product markets, and create additional conditions for the development and modernization 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July, the Verkhovna Rada had already attempted to ratify the document; however, at the last minute, Bill No. 0340 was withdrawn from consideration due to a lack of votes from members of parliament. 

Negotiations lasted 15 years

Ukraine and Turkey signed the agreement on the establishment of a free trade zone in February 2022—literally 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 necessary procedures are completed, the document is expected to establish the legal framework for the full launch of the free trade zone between Ukraine and Turkey. 

Specifically, this refers to Bill No. 0340, which provides for the ratification of the Free Trade Agreement between the governments of Ukraine and Turkey. 
 

The EU and Ukraine have called on Russia to immediately return all abducted civilians.

Ukraine has already managed to repatriate 2,126 children abducted by Russia as part of the “Bring Kids Back UA” initiative.