The Free Trade Agreement between the Government of Ukraine and the Government of Montenegro was signed in Kiev on 18 November 2011 and was also ratified by Ukrainian Law No. 5445-VI of 16 October 2012; entered into force on 1 January 2013. This agreement covers trade in goods, services and dispute settlement. In accordance with the provisions of the Agreement after its entry into force, Montenegro provides for the abolition of import duties. In order to avoid possible negative consequences for the Ukrainian economy, the Ukrainian side to the agreement excluded a number of sensitive groups of agricultural products from the free trade area. Ukraine`s right to apply export duties in accordance with existing WTO obligations will also be maintained. He added that once it enters into force, this free trade agreement will significantly strengthen trade relations between countries and facilitate the establishment of new trade relations. “Our goal is to generate $10 billion in revenue. The conclusion of the free trade agreement will make it easy to reach this figure,” the ambassador said. Ukraine and Turkey hope to conclude a free trade agreement in February 2022, the Atlantic Council reported, citing Ukrainian Foreign Minister Dmytro Kuleba.
“Further liberalization of bilateral trade is important to us, and the signing of a free trade agreement can significantly increase its volume. At the same time, we understand that this is a responsible measure and must be taken in accordance with the national interests of each party,” said the President of Ukraine, noting that the parties have agreed to conduct a thorough review of all contentious issues by the relevant institutions in order to find a mutual compromise that will pave the way for the signing of this important document. On 21 March 2014, the European Union and Ukraine signed the essential elements of a Political Association Agreement which was the precursor to the Deep and Comprehensive Free Trade Agreement (DCFTA: trade.ec.europa.eu/doclib/press/index.cfm?id=1425) and which entered into force on 1 January 2016. Turkey, which is a party to the General Agreement on Tariffs and Trade 1947 (GATT) and a member of the World Trade Organization (WTO) since 1995, implements free trade agreements in accordance with Article XXIV of the GATT 1947. Under this article, Turkey could grant more favourable treatment to its trading partners in a customs union or free trade area without extending this treatment to all WTO Members under certain conditions. The bilateral free trade agreements between Ukraine and Azerbaijan (ratified on 12 July 1996), Uzbekistan (4 November 1995), Tajikistan (6 July 2001) and Turkmenistan (5 November 1994) also apply. Ukraine`s main trading partners in the CIS are the Russian Federation, Belarus, Moldova and Kazakhstan. In today`s world, countries tend to conclude bilateral and regional free trade agreements because the World Trade Organization (WTO) has achieved a high degree of liberalization, WTO rules are not sufficient under current conditions, and the multilateral trading system is ineffective in ensuring better market access. As a result of this trend, about 400 free trade agreements have been notified to the WTO. He added: “The breadth of the issues and the intensity of our bilateral dialogue show that this partnership does not exist with words.
In fact, it is supported by real actions and real victories. I am confident that all the agreements we have reached today will be crowned with success. Ukraine has trade agreements with Armenia, Azerbaijan, Belarus, Canada, Georgia, Iceland, Kazakhstan, Kyrgyzstan, Liechtenstein, Macedonia, Moldova, Montenegro, Norway, Russia, Switzerland, Turkmenistan, Tajikistan and Uzbekistan. These agreements grant most-favoured-nation status in trade with signatory states on a reciprocal basis. As in the case of the PCA, through these agreements, Ukraine benefits from the tariff concessions of its partner countries, which are members of the WTO, without binding their own tariffs. The freely accessible agreement with Israel, ratified by the Ukrainian parliament in July 2019, entered into force on 1 January 2021. In 2020, Ukraine also signed a free trade agreement with the United Kingdom, which entered into force on 1 January 2021. Ukraine is currently negotiating a free trade agreement with Turkey. Other important agreements between the United States and Ukraine. On February 7, 2017, Ukraine signed an intergovernmental agreement to implement the Foreign Account Tax Compliance Act (FATCA), which means that Ukraine agreed to share information about U.S.
accounts centrally with the IRS on a non-reciprocal basis. On 29 October 2019, the Ukrainian Parliament ratified the FATCA agreement, which entered into force on 18 November 2019. On 23 March 2017, Ukraine became the 47th country to accede to the OECD Declaration on International Investment and Multinational Enterprises. The Declaration commits Ukraine to create an open and transparent environment for international investment and to promote the positive contribution of foreign investment to economic and social progress. In this context, the President of Turkey noted: “The fact that the volume of trade relations between the two countries has not decreased despite the pandemic indicates that our economies are complementary. He expressed the hope for the early signing of a free trade agreement between Ukraine and the Republic of Turkey, which will achieve the common goal and increase the volume of trade to US$10 billion. Article 16 of Decision No 1/95 of the Turkey-EC Association Council on the implementation of the final phase of the Customs Union provides, inter alia, for Turkey to take the necessary measures and negotiate mutually beneficial agreements with the countries concerned. The Free Trade Agreement between the Republic of Macedonia and Ukraine was signed in Skopje on 18 January 2001 and ratified by Ukrainian Law No. 2599-III of 5 July 2001.
This agreement concerns the abolition of trade restrictions on industrial and agricultural products, the creation of conditions conducive to fair competition in trade, the creation of conditions conducive to the further promotion of investments, the development of joint investment projects, the protection of intellectual property and cooperation between the parties in the markets of third countries. .
