Historic Trade Agreement Signed Between Ukraine and EFTA

In a significant move to bolster economic relations, Ukrainian Prime Minister Denys Shmyhal announced the signing of a new free trade agreement with the European Free Trade Association (EFTA) this Tuesday.

Key Highlights of the Agreement

The agreement introduces comprehensive chapters on e-commerce, support for small- and medium-sized enterprises, and updates on trade in goods, among other areas. Prime Minister Shmyhal emphasized that this deal "paves the way for deeper integration into European supply chains," marking a pivotal moment for Ukraine's economy.

Trade Volume and Key Exchanges

Last year, trade between Ukraine and the EFTA nations—Iceland, Liechtenstein, Norway, and Switzerland—reached nearly €1.1 billion. Ukraine's exports were dominated by fats and oils, valued at €37 million, while the EFTA countries exported a diverse range of goods including fish and seafood (€229 million), pharmaceutical products (€143 million), and arms and ammunition (€77 million).