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12:38 19 Aug 2022

Ukraine and UK agree to simplify mutual access to public procurement market

Ukraine and Great Britain updated the Agreement on political cooperation, free trade, and strategic partnership, approving the simplification of access to the public procurement market.

The Ministry of Economy of Ukraine reports this.

"The First Deputy Prime Minister of Ukraine, the Minister of Economy of Ukraine Yulia Svyridenko, and the Ambassador of Great Britain to Ukraine Melinda Simmons signed the second addendum to the Agreement on Political Cooperation, Free Trade and Strategic Partnership between Ukraine and the United Kingdom of Great Britain and Northern Ireland. The document approves the simplification of mutual access to the public procurement market," the message reads.

In particular, the procurement thresholds were updated, and the currency used for their calculation was changed from the euro to the Special Drawing Rights (SDR). In addition, they will streamline provisions on the mutual application of public procurement in the provision of medical services.

It is noted that Ukraine and Great Britain plan to further develop the contractual and legal framework to promote bilateral trade and strengthen ties between Ukrainian and British businesses.

Earlier, Rubryka reported that the UK backs a £3bn export finance package to help Ukraine. Treasury Chancellor Nadhim Zahawi supported the provision of pre-export financing through the state agency UK Export Finance (UKEF).

The UKEF credit facilities comprise up to £2.3bn for financing military contracts identified by the Ukrainian government, with the remaining £700m earmarked for reconstruction projects.

Companies such as BAE Systems and Babcock International are believed to be likely to be among those to sign individual contracts with UKEF.

According to Mr. Zahawi's letter, his backing for the deal is contingent upon the resolution of legal questions relating to "the compatibility of these facilities with our international subsidy control obligations."

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