The Verkhovna Rada of Ukraine on Wednesday approved a draft law on the ratification of the agreement on political cooperation, free trade and strategic partnership between Ukraine and the UK, which will replace the association agreement on trade with the UK after Brexit.
Ukraine and the UK signed the agreement during President Zelensky’s visit to London on 8 October.
The establishment of a free trade zone, as envisaged in the agreement, will facilitate the entry of Ukrainian companies to the UK market, Foreign Minister Dmytro Kuleba said at a plenary session of the Verkhovna Rada on Wednesday. Also, the agreement strengthens the political partnership between the two states and brings to a new level the strategic partnership in countering Russian aggression.
“The document provides for the preservation of preferential access of Ukrainian goods to the British market and the establishment of a free trade zone between our states. 98% of Ukrainian exports will not be subject to duty. Starting from 2023, 100% of Ukrainian industrial and agricultural products will be exempt from import duties,” the press service of the Foreign Ministry quoted Kuleba as saying.
The agreement will enter into force after the UK carries out domestic procedures for its ratification.