Türkiye expects the Free Trade Agreement to be ratified by the Ukrainian side and come into effect as fast as possible, increasing the trade turnover between the two countries to USD 10 billion.
The relevant statement was made by Chief Advisor to the President of the Republic of Türkiye Yalçın Topçu in an interview with Ukrinform.
“Currently, our priority interest is to have the Free Trade Agreement ratified by the Ukrainian side and put into effect. Bringing it into force will contribute to achieving our goal of foreign trade turnover with Ukraine at around USD 10 billion,” Topçu said.
In his words, the FTA intends to intensify and develop economic cooperation between the two countries, improve the living standards of our peoples, and gradually eliminate barriers and restrictions affecting the trade in goods.
“Additionally, it will ensure the continuous liberalization of services in the field of trade, the stable development of economic ties, promote the expansion of mutual trade, eliminate obstacles in its path and create conditions for its harmonious development. This agreement is also expected to strengthen bilateral trade and ensure fair competition,” Topçu noted.
Among the priority areas of Ukraine’s post-war reconstruction, the Turkish official mentioned overcoming the humanitarian consequences of the war, as well as the development of the defense industry, transport, logistics, energy sector, housing construction and social infrastructure.
A reminder that Ukraine and the Republic of Türkiye started talks on the Free Trade Agreement in 2007. The document was signed during the visit by President of the Republic of Türkiye Recep Tayyip Erdoğan to Ukraine on February 3, 2022. In 2024, Türkiye ratified the agreement. Now, the document needs to be ratified by the Verkhovna Rada of Ukraine.
In 2022 and 2023, the average trade turnover between Ukraine and Türkiye was around USD 7.5 billion. In 2024, this indicator dropped to USD 6.2 billion. Since the Russian full-scale invasion started, Turkish companies had invested more than USD 300 million in Ukraine.
Source: Türkiye expects FTA to be ratified by Ukraine as fast as possible – Erdoğan’s advisor
