March 3, 2024

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London and Kyiv sign digital trade deal

London and Kyiv sign digital trade deal

The UK and Ukraine signed a digital trade deal on Monday aimed at facilitating trade between the two countries, as part of British support for Kiev in the face of Russian aggression.

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In addition to the deal announced at the end of last November, described as a “historic” signing by the British Minister for International Trade, Chemie Patenock, the UK announced the abolition of customs duties on all Ukrainian imports. till March 2024.

The agreement, signed on Monday by British and Ukrainian economy minister Yulia Sviritenko, allows Ukraine “guaranteed access to financial services critical to reconstruction efforts” due to “simplification” of data flows, according to a UK department statement. Trade.

Thanks to electronic transactions, signatures and contracts, “Ukrainian companies can also trade more efficiently and cheaply with the United Kingdom,” the text continues.


“The historic agreement signed today will pave the way for a new era of modern trade between our two countries,” said British Minister Cammy Patenock. The text, as well as the extension of tariff exemptions, will help “protect jobs, resources and families in Ukraine now and in the post-war period.”

“The country believes that an open and free framework for the digital economy is the best investment for future growth,” argued the Ukrainian economy minister, quoted in a British government press release.

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The latter underlined that the Russian invasion would cost four billion pounds (4.5 billion euros) of support from Ukraine to Ukraine – military, humanitarian and economic.

London will also host an international conference on the reconstruction of Ukraine at the end of June.

As a result of the sanctions, imports of Russian goods into the UK fell by 99%, and exports to Russia fell by 80%, according to the Department of Trade.