Ukraine and Britain sign digital trade agreement
The UK has signed a key digital trade agreement with Ukraine, which will support the country's economy and significantly strengthen trade and investment relations between the two countries.
The British government reported this on the official website.
As noted, on Monday, the Department for Business and Trade of Great Britain hosted a number of Ukrainian ministers and 200 representatives of British and international business and officials.
The agency organized the Road to Ukraine Recovery Conference to mobilize British businesses to participate in future projects to restore Ukraine.
"This event and our mobilization of British industry is a key step on the way to the Conference on the Reconstruction of Ukraine, which will be held in London in June," the ministry noted.
British Secretary of State for Business and Trade Kemi Badenoch called the agreement signed today a historic deal, opening the way to a new era of modern trade between Britain and Ukraine.
"We are also extending duty-free trade on imports from Ukraine until the beginning of 2024, providing much-needed support to Ukrainian businesses. These initiatives will help protect jobs, livelihoods, and families now and in Ukraine's post-war future," said the British minister.
In this way, Ukraine will have guaranteed access to financial services that are crucial to the country's recovery due to the simplification of cross-border data flows. Ukrainian businesses will also be able to trade with Britain more efficiently and cheaply with the help of electronic transactions, electronic signatures, and electronic contracts.
"This agreement on digital trade illustrates that Ukrainian IT companies operating in Ukraine are in demand worldwide, despite all the problems of the war. The Digital Trade Agreement between Ukraine and Britain has established basic freedoms for trade in digital goods and services. Ukraine believes that an open and free basis for the digital economy is the best investment in future development," Yulia Svyrydenko, First Vice Prime Minister and Minister of Economic Development and Trade of Ukraine said.
