Ukraine and Turkey hope to sign free trade deal before the end of the year

Following a meeting with his Ukrainian counterpart, Petro Poroshenko, Turkish President Recep Tayyip Erdoğan stated that Ukraine and Turkey should complete the negotiation process on the creation of the Free Trade Zone between the two States and finalize the agreement, Interfax-Ukraine reported.

“We attach great importance and a high priority to ensuring that the Agreement on the Free Trade Zone can be signed this year,” Erdoğan noted, speaking at the joint press conference in Ankara.

The President of Turkey noted the importance of the development of economic relations between the countries and the increase of bilateral turnover. He stated that the objective of both countries is to increase trade turnover up to $20 billion between Kiev and Ankara by 2020.

“It is critical for the desired outcome that the Agreement on the Free Trade Zone is signed as soon as possible,” Erdoğan said, adding that it is also required in order to update the Agreement on the avoidance of double taxation and the ability to attract investments.

  Ukraine, turkey, Free Trade