UK and Ukraine agree deal on 'new era of modern trade'
20/03/2023 68
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The UK has signed a digital trade deal with Ukraine which will help support the country's economy during the war with Russia and as it rebuilds in the future.
Under the deal, Ukrainian businesses will be able to trade more efficiently and cheaply with the UK through electronic transactions, e-signatures, and e-contracts.
It will also give Ukrainian firms access to UK financial services through provisions on cross-border data flows.
Business & Trade Secretary Kemi Badenoch said: "The historic digital trade deal signed today paves the way for a new era of modern trade between our two countries.
"We are also extending tariff-free trade on imports from Ukraine to early 2024, providing much needed support to Ukrainian businesses.
"These initiatives will help protect jobs, livelihoods and families now and in Ukraine's postwar future."
Ukraine's economy minister Yulia Svyrydenko said: "This digital trade agreement illustrates that Ukrainian IT companies operating in Ukraine are in demand around the world despite all the challenges of war."
The deal signed virtually on Monday was agreed in principle in November.
Source: Morning Star
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