MADRID, May 4. (EUROPE PRESS) –
The governments of London and kyiv have officially sealed an agreement on Wednesday to abolish tariffs and taxes on Ukrainian products for a period of one year, according to the Ministry of Economy of Ukraine.
“Ukraine and the United Kingdom have legally enshrined the abolition of import duties and tariff quotas in bilateral trade by signing an agreement that will be in force for twelve months,” the Ukrainian Ministry of Economy explained in a statement.
The agreement, which may be extended by agreement of both parties, has become official after the UK Government announced the measure at the end of April, along with the ban on exporting technological goods to Russia, in an attempt to financially support Russia. Ukraine in the war.
It is expected that thanks to this agreement, Ukrainian companies will be able to increase their exports, especially those related to the food sector, be it with the shipment of flour, cereals, dairy products, poultry, honey, preserves and sugar.
The Ministry of Economy of Ukraine is confident that this measure will promote the development of the country’s agri-food production, as well as a strengthening of the economy with the increase in foreign exchange.