Ukraine, Turkey agree to strengthen industrial cooperation and bilateral trade

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The Ukrainian-Turkish consultations on the signing of the free trade agreement concern not only trade issues but also production and job creation, which makes the document even more attractive for both sides.

The government portal issued a corresponding statement as a result of consultations between the Ukrainian and Turkish delegations in the framework of the negotiations on the signing of the Ukraine-Turkey free trade agreement.

“The most important thing for us is job creation and GDP growth. Ukraine is open to cooperation and investment, therefore the Ukrainian side will strive to finalize the signing process of the free trade agreement with Turkey, ”said Turkey’s Minister of Economy. Ukraine Oleksiy Lyubchenko.

He thanked the Turkish side for the fact that the agreement covers not only trade but also production.

At the meeting, Ukraine was represented by the First Deputy Prime Minister – Minister of Economy of Ukraine Oleksiy Lyubchenko, Deputy Minister of Economy of Ukraine – Trade Representative of Ukraine Taras Kachka; Turkey – Deputy Minister of Commerce of the Republic of Turkey Mustafa Tuzcu.

Tuzcu noted that strong political relations and a strategic partnership are developing between the Republic of Turkey and Ukraine. Therefore, the next step should be to deepen relations in the economic sphere.

“In recent years, we have had a good trade balance of $ 5 billion. The signing of the free trade agreement can double up to $ 10 billion. Turkey is one of the biggest investors in Ukraine, and Turkish companies see investment opportunities in renewables, pharmaceuticals and telecommunications. The Free Trade Agreement is not only a guarantee of deepening our economic relations, but also an impetus for the development of our economies, ”said Deputy Minister of Commerce of the Republic of Turkey.

During the meeting, the participants also discussed measures to support economies during the quarantine period, the peculiarities of protecting the interests of certain sectors of the economy, the reorientation of export policy, etc.

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