Historic Trade Deal Signed

In a significant move towards European integration, Ukrainian Prime Minister Denys Shmyhal unveiled a new free trade agreement with the European Free Trade Association (EFTA) this Tuesday. This landmark deal introduces comprehensive chapters on e-commerce, support for small- and medium-sized enterprises, and updates on trade in goods, among other critical areas.

Boosting Economic Collaboration

According to Shmyhal, the agreement not only updates market access for goods but also liberalizes trade in specific categories, thereby enhancing Ukraine's integration into European supply chains. This development marks a pivotal step in Ukraine's economic strategy and its relations with EFTA member countries.

Trade Figures Highlight Mutual Benefits

With trade between Ukraine and EFTA nations reaching nearly €1.1 billion last year, the deal promises to further economic growth. Ukraine's exports, primarily fats and oils, were valued at €37 million, while EFTA's exports included €229 million in fish and seafood, €143 million in pharmaceutical products, and €77 million in arms and ammunition, showcasing the diverse nature of this trade relationship.