Turkish President Recep Tayyip Erdogan approved the free trade agreement with Ukraine. All its annexes have also been ratified.
This was reported by Hurriyet Daily News and Yuliya Svyrydenko on Facebook.
The agreement was signed on 3 February 2022.
The day before, Ukraine's First Vice Prime Minister Yuliya Svyrydenko paid a visit to Turkey. During a meeting with her, Turkish Trade Minister Omer Bolat said that bilateral trade between Turkey and Ukraine was worth $7.3 billion in 2023.
The FTA is expected to increase the volume to $10 billion in a short period of time.
Bolat noted that Turkey and Ukraine will continue to strengthen cooperation and increase mutual trade and investment based on common interests.
In particular, Turkish companies will be actively involved in the implementation of the Turkish-Ukrainian working group on the restoration of Ukraine, which was established in Istanbul in January this year.
According to Yuliya Svyrydenko, the completion of the ratification of the free trade agreement with Turkey will unite all Black Sea countries, except Russia, into a single economic space that is mutually beneficial for all countries.
She noted that Turkey has actually become a hub for the supply of Ukrainian grain to other countries.
The main areas of trade between the two countries are metallurgy, machine building, energy, automotive and grain.