Turkey, Ukraine discuss taking trade volume to $10B
Current trade volume between both countries amounted to $4.8 billion in 2019 while both sides plan to sign Free Trade Agreement to deepen economic ties.
Ties between Turkey and Ukraine gained the status of a strategic partnership with the establishment of the High-Level Strategic Council in 2011.
Turkey and Ukraine have discussed steps to increase the bilateral trade volume to $10 billion.
Turkey's Trade Minister Ruhsar Pekcan said on Wednesday that she had a "fruitful phone call" with her Ukrainian counterpart, Ihor Petrasko.
"The Free Trade Agreement (FTA) planned to be signed between the two countries aims to deepen economic-commercial relations," Pekcan said, adding that it will be an important milestone in achieving the targeted trade volume.
Separately, Petrasko tweeted: "Our goal today is to find a solution for both sides to restart negotiations and finalise the FTA."
We had a fruitfull phone call with Mr. Ihor PETRASHKO Minister of Economic Development, Trade and Agriculture of Ukraine. At the phone call , we discussed possible steps to be taken in particular ongoing FTA negotiations to further increase our bilateral trade volume. @UKRinTR pic.twitter.com/ElwxX8V9cF
— Ruhsar Pekcan (@pekcan) September 1, 2020
Strategic ties
Relations between Turkey and Ukraine gained the status of a strategic partnership with the establishment of the High Level Strategic Council in 2011.
To strengthen economic and people-to-people contacts, a passport-free regime was introduced in 2017.
Trade volume between the two countries amounted to $4.8 billion in 2019.
Tourism is also an important area of cooperation. As many as 1.6 million Ukrainians visited Turkey last year.
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