Ukraine and the UK have welcomed ongoing consultations on ensuring the implementation of the Association Agreement between Ukraine and the EU, which includes a Deep and Comprehensive Free Trade Agreement (DCFTA), facilitating trade worth $2.35 billion between the two countries after the UK leaves the EU, the press service of the Ministry of Economic Development and Trade of Ukraine reported.
“As the UK is in the process of exiting the EU, Ukraine welcomed the UK’s intention to avoid any disruption to trade. In particular, both countries welcomed ongoing discussions to ensure continuity of the EU-Ukraine Association Agreement, which includes a Deep and Comprehensive Free Trade Agreement (DCFTA), which facilitates more than $2.35 billion in trade between the two countries, once the UK leaves the EU,” the report reads.
The UK informed Ukraine on the UK-EU agreement, reached at the March European Council that the UK was to be treated as a member state for the purposes of international agreements during the EU-UK Implementation Period. This should provide for further certainty to both British and Ukrainian traders that there will be no disruption to the existing trading relationship during the Implementation Period, and that in particular the preferential terms of EU-Ukraine DCFTA will continue to apply to both parties during the Implementation Period.
Both countries agreed to work together to strengthen UK-Ukrainian trade. (Ukrinform/Business World Magazine)