UK to continue tariff-free trade with Ukraine until 2029

The UK has stated it will continue tariff-free trade with Ukraine on almost all goods until 2029, giving Kyiv further favourable trading terms in the wake of the Russian invasion.

Source: Reuters, as reported by European Pravda

Details: The UK has abolished tariffs on all its trade with Ukraine since the beginning of Russia's full-scale invasion two years ago. Previously, they agreed that such an arrangement would last until March 2024.

The UK Department for Business, Energy, and Industrial Strategy announced that tariff-free trade would be extended for all goods for five years, except for eggs and poultry meat, extended for two years, and that British firms would also benefit from the cancellation of tariffs for exports to Ukraine.

Quote: "This agreement provides much needed long-term economic support to Ukraine, its businesses and people – critical to its recovery," said Junior Trade Minister Greg Hands, adding that UK's support would continue "for as long as is needed".

The UK has supported Ukraine's war effort with weapons and assistance, as well as favourable trade conditions, including a new digital trade deal.

Background: Earlier, during UK Prime Minister Rishi Sunak’s visit to Kyiv, he signed a bilateral security agreement with Ukrainian President Volodymyr Zelenskyy. The agreement will remain in force until Ukraine joins NATO. This agreement was the first in the field of security agreements to implement the agreements agreed upon during the Vilnius NATO summit between Ukraine, members of the G7 group and the states that joined them.

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