He said a free trade agreement would be a great boost for the flourishing relations between Turkey and Ukraine. Regarding the type of economic relations, Gennadiy Chizhikov, head of the Ukrainian Chamber of Commerce and Industry (UCCI), said Anadolu agency that merchandise trade between Ukraine and Turkey is growing positively by 15-20% on average. Turkey negotiates and concludes free trade agreements with third countries in parallel with the global trend towards free trade agreements and its commitment to the customs union. Under the EU common tariff, preferential trade regimes are the most important part of trade policy towards third countries. Work will be undertaken to determine the economic expediency of free trade agreements with other important trading partners in Ukraine. With the completion of scientific studies, we are trying to define the countries of perspective for the conclusion of free trade agreements through consultations with professional associations and Ukraine`s major producers and exporters. One of the important tasks of the Ukrainian Ministry of Foreign Affairs is to provide diplomatic assistance and assistance in negotiations for bilateral and multilateral free trade agreements (free trade agreements). “The agreement must balance our economies, which are already gradually coming together,” he said. “We are aiming for $10 billion in bilateral trade with Ukraine,” Erdogan said Friday at a news conference with his Ukrainian counterpart, Wolodymyr Zelenskiy, at the Ankara presidential complex.

The free trade area between Ukraine and Georgia has been in force since 1996 as part of the agreement between the Government of Ukraine and the Government of the Democratic Republic of Georgia of 9 January 1995 (entered into 4 June 1996), as well as as part of the Intergovernmental Protocol on Amendments and Supplements to the agreement adopted on 17 June 2009 on Georgia`s withdrawal from the CIS. Free trade agreements promote the free movement of goods and services between countries, which in turn encourage the attraction of investment, reduce import costs, develop domestic production and infrastructure, exchange experiences and technologies, employ the population, maintain taxes and royalties, and maintain close inter-governmental links.