Türkiye and Ukraine Free Trade Agreement enters into force

The Free Trade Agreement between Türkiye and Ukraine has officially entered into force as of October 1. While the agreement is active, customs duty regulations regarding the trade of goods are scheduled to be implemented starting January 1, 2027.

Originally signed on February 3, 2022, the agreement aims to increase the bilateral trade volume to a target of $10 billion in the short term. The framework is designed to provide more predictable rules for commercial relations and includes provisions for services, investments, e-commerce, trade facilitation, and customs cooperation.

The agreement also addresses sensitive sectors and aims to support commercial flows by allowing quota-free bilateral and transit transport between the two nations. It is expected to provide a competitive advantage for Turkish and Ukrainian businesses against suppliers from third countries, particularly as Ukraine continues its economic integration with the European Union.