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Ukraine and UK sign agreement on digital trade

Interfax | 20 March 2023

Ukraine and UK sign agreement on digital trade

Agreements on digital trade between Ukraine and the UK were signed on Monday by First Deputy Prime Minister - Economy Minister Yulia Svyrydenko and Secretary of State for Business and Trade, President of the Board of Trade and Minister for Women and Equalities Kemi Badenoch.

"This is a new generation trade agreement focused primarily on preventing the emergence of barriers in the future. This is important because the states in the world are increasingly regulating the digital sphere. For Ukrainian IT companies, maintaining free access to markets is a basic condition for further development," the Ministry of Economy commented on signing the document on its website.

The digital trade agreement complements the agreement on political cooperation, free trade and strategic partnership between Ukraine and the UK and will enter into force after all domestic procedures are completed.

The agency clarified that Ukraine became the second country in the world after Singapore with which the UK signed the digital trade agreement.

According to Svyrydenko, the document will lay the foundation for the practical content of the Ukraine Recovery Conference, which will be held in London in June this year, and will strengthen the Ukrainian-British investment partnership.

For its part, Badenoch noted that the UK would continue to stay with Ukraine in its fight against Russian aggression. She stressed that the UK is interested in developing partnership between the businesses of both countries, further liberalizing trade and implementing joint projects to restore Ukraine.

 source: Interfax