Turkish Trade Minister Ömer Bolat has hailed the ratification of the free trade agreement (FTA) by the Ukrainian parliament as “another historic milestone.”
Bolat said in a social media post that the Türkiye-Ukraine FTA, which was ratified in Türkiye in 2024, was also ratified on July 14 by the Parliament of Ukraine.
“This important development marks another significant step towards the agreement’s entry into force and opens the door to a new era in the economic and trade relations between Türkiye and Ukraine,” he added.
With the agreement, nearly 90 percent of bilateral trade between the two countries will be liberalized on a reciprocal basis, further enhancing the competitiveness of Turkish exporters in the Ukrainian market, said Bolat.
In addition, the facilitation of trade in services will strengthen our logistics networks, while our contracting services and mutual investments will be supported under a more transparent and secure legal framework, he added.
“This will bring us one step closer to achieving the $10 billion bilateral trade volume target jointly set by President Recep Tayyip Erdoğan and President Volodymyr Zelensky,” said Bolat.
The minister noted that total bilateral trade volume, which amounted to $6.2 billion in 2024 and $6.6 billion in 2025, increased by 10 percent in the first six months of the year, reaching approximately $3.2 billion.
