The Free Trade Agreement (FTA) between Türkiye and Ukraine has come into effect. This agreement aims to significantly reduce customs duties for Turkish exporters and increase trade volume. The FTA will remove transportation quotas in bilateral trade, allowing trade between the two countries to proceed freely and targeting a trade volume of $10 billion.
In addition to reducing customs duties, the agreement will also introduce tax reductions on certain agricultural and industrial products. Turkish firms will be able to compete under similar conditions with the European Union (EU), preventing market losses. The agreement will also encourage and simplify mutual investments by providing transparent and predictable rules for investment processes.
The FTA offers significant benefits in the transportation and logistics sectors, guaranteeing quota-free bilateral and transit transport. This is expected to greatly contribute to increased economic cooperation and trade between Turkey and Ukraine.
