Ukraine aims to sign free trade zone with Israel and TurkeyStaff writer ▼ | January 8, 2016
Ukraine is in talks aimed at the signing of a Free Trade Agreement (FTA) with Turkey and Israel.
Intentions The FTA will expand opportunities
These markets are important especially for exporters of grains and oilseeds. The delivery of some types of grain could increase substantially. There are preliminary agreements on investment projects in the agricultural sector, aviation and the IT industry.
"This free trade zone will expand opportunities in Ukraine," said economist Andrew Novak.
"Turkey is under Russian sanctions, which means it cannot export its fruits and vegetables. This is beneficial for Ukraine, as Turkish goods become cheaper for us. We also expect broader cooperation in the military-industrial sectors. Over the last eighteen months, we have made a breakthrough here. We have something to offer to Turkey and Israel."
The agreement is also expected to bring significant investments into the Ukrainian economy from these countries. ■