There are almost 100% of Ukrainian goods on the British market will have free access. What aware of new deal with UK?

There are almost 100% of Ukrainian goods on the British market will have free access. What aware of new deal with UK?

Volodymyr Zelenskyy signed an agreement with the UK recently. It was a new step in partnership with Ukraine and Great Britain. The contract provides:

⚜️ Free trade will be conducted between countries

⚜️ Each side undertakes to support the other politically

⚜️ Strategic cooperation will be carried out

This agreement maintains relations between countries during the British exit from the European Union and further independent existence. So Ukraine will increase its economic potential and strengthen its political status in the Europe arena.

What are the benefits of a market agreement with the UK?

The сooperation with the United Kingdom gives Ukraine a chance for trade development. This agreement will increase the liberalization of the terms of sale of goods or provision of services. By the way, the agreement will not be inferior to the one that was signed with the European Union.

As soon as the agreement comes into force, there will be a complete liberalization of 98% of the goods market. They will have access to the UK market. This percentage will be maximum already from 2023. The deal will not only distribute Ukrainian goods and services abroad, but also will make the export process much easier and more accessible. Companies from two countries will be able to promote their product without any problems.

Ukraine gets the right (within the first 2 years) for revision and amendments to the agreement. This period is much shorter in compared to a similar agreement with the European Union.

There is a new plan of tariff quotas:

? This value is 36 for Ukraine. There are four, which are charged additionally

? Zero tariff quotas are directly determined by the UK. They are installed with taking into account tariff quotas, which are adopted in the Association Agreement between Ukraine and the EU.

A trade agreement with the British is quite beneficial for both parties as we can see. Ukraine gets direct access to EU and UK markets. This will improve unstable economic situation in the country. Ukraine can avoid quotas for individual services and goods by about 7%.

This will become a strong impetus for the distribution and exit of our domestic products from the framework of Ukraine. The IMF improved Ukraine’s financial forecasts for this and the next period. The growth of the Ukrainian savings are expected to be 3 percent next year according to the International Monetary Fund.

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