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Ukraine-Turkey Intergovernmental Commission on Trade and Economic Cooperation winds up its 11-th meeting in Ankara
12.04.2018 | 15:26

Today, on April 12, the 11th meeting of the Ukraine-Turkey Intergovernmental Commission on Trade and Economic Cooperation, co-chaired by First Vice Prime Minister/ Minister of Economic Development and Trade of Ukraine Stepan Kubiv and Minister for National Defense of Turkey Mr.Nurettin Canikli, wound up in Ankara Turkey.

Participants of the meeting focused on expanding existing and creating new opportunities to enhance trade between Ukraine and Turkey.

"One of the most important common objectives is the completion of the negotiation process on the conclusion of the Ukraine-Turkey Free Trade Agreement on mutually beneficial terms. We also devote substantial attention to improving investment opportunities for Turkish business, which we urge to participate in privatization in Ukraine, as well as to take an active part in projects in the sectors of infrastructure, energy, agriculture, industry, as well as education, science and culture", stressed Stepan Kubiv.

He added that among the new rather beneficial opportunities is the trade cooperation Turkey - Qatar - Azerbaijan - Georgia - Ukraine. This cooperation will open up new opportunities for manufacture of high value-added products, facilitate to expand transport flows, in particular, intensify cooperation in the oil and gas industry, including the development of a Ukrainian-Qatari-Turkish working group responsible for elaborating mechanisms and routes for the supply of liquefied natural gas from Qatar in Ukraine.

Stepan Kubiv noted that in 2017, Turkey ranked third among Ukraine's trading partners in terms of exports of goods (5.8% of total exports of goods from Ukraine) and first among the countries of the Middle East in terms of turnover with a 50% share. The trade turnover made up $ 3.78 billion (a 20.1% increase against 2016), exports - $ 2.52 billion (a 22.9% increase against 2016), imports - $ 1.26 billion (a 14.9 % increase), a surplus of $ 1.26 billion (exceeded the showing of 2016 by $ 305.46 million).

"We continue cooperation in investment and PPP, IT, innovation, agriculture and food industry, in veterinary, quarantine and plant protection, industry, certification and standardization", Stepan Kubiv emphasized.

He told that among the positive aspects of the development of Ukrainian-Turkish economic cooperation in the recent period, it should be noted a growing trend in Turkish investment in the Ukrainian economy.

"Turkey is the focus market for Ukrainian exports in line with the Export Strategy. Therefore, it is crucial to strengthen trade and economic cooperation, business-to-business contacts, as well as to increase our export to the Turkish market, as it qualitatively changes the country", said Deputy Minister of Economic Development and Trade/Trade Representative of Ukraine Natalia Mykolska.

According to her, the joint participation of Ukraine and Turkey in the Regional Convention Pan-Euro-Med (Regional Convention on pan-Euro-Mediterranean preferential rules of origin (PEM Convention) will contribute to strengthening trade and economic cooperation, industrial cooperation between the two countries and growing exports to Turkey.

"Only last year exports of goods and services to Turkey amounted to $ 2.7 billion and grew by $ 456.7 million as compared to 2016. We must prolong activities aimed to intensify trade through existing and new tools", noted Natalia Mykolska.

The meeting of the Ukrainian-Turkish Intergovernmental Commission on Trade and Economic Cooperation was also attended by representatives of the Ukrainian government delegation, high-ranking officials of the Turkish Republic, experts and business representatives from both countries.

Following the meeting, Stepan Kubiv and Mr.Nurettin Canikli signed the Protocol, in which they recorded the key arrangements and results of holding the meeting of the Intergovernmental Commission.


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