UK, Ukraine extend tariff-free trade on most goods for 5 more years

The agreement, signed in a virtual ceremony, is aimed at supporting Ukraine’s long-term economic recovery from the war with Russia, an official UK government release said.

The United Kingdom was the first country to remove tariffs on all its trade with Ukraine two years ago. The tariff-free trade agreement signed between the two countries in May 2022 was due to expire on March 31 this year.

“The UK will continue to do everything in its power to support Ukraine’s fight against Putin’s invasion, for as long as is needed,” Hands said.

Ukraine has also agreed to match the UK’s approach, meaning British businesses can also benefit from tariff-free exports to Ukraine.

The Ukraine Recovery Conference held in London last year strengthened international support for Ukraine and raised over $60 billion towards Ukraine’s recovery and reconstruction.

Fibre2Fashion News Desk (DS)