Ukraine and Great Britain have legally secured the abolition of import duties and tariff quotas in trade by signing a corresponding agreement. It will remain in force for 12 months, but may be extended by agreement of the parties, ProAgro Group reported, citing information from the Ministry of Economy.
It is noted that trade relations between Ukraine and Britain have a long and successful history. In 2021, trade turnover between Ukraine and Great Britain increased by almost 57% and amounted to $ 2.2 billion, and especially Ukrainian export increased (+62%), which reached a volume of more than $ 1 billion.
Thanks to the cancellation of import duties and tariff quotas, Ukrainian businesses will be able to increase exports of goods with high added value. It is primarily about flour, grain, dairy products, poultry and semi-finished products. It is these goods that Ukraine traditionally exports to Great Britain.
Remind that the European Union also recently announced its intention to abolish all import duties on Ukrainian goods.
