Photo: Ministry of Foreign Affairs of Ukraine
Minister of Foreign Affairs of Ukraine Dmytro Kuleba
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A free trade zone with the United States will strengthen the Ukrainian economy, stressed the head of the Ukrainian Foreign Ministry.
During the visit of Ukrainian President Volodymyr Zelenskyy to the United States, the Ukrainian side proposed to create a free trade zone (FTA) between the two states. This was announced by the Minister of Foreign Affairs of Ukraine Dmytro Kuleba on the air of the program freedom of speech on ICTV on Monday 6 September.
According to the head of the Russian Foreign Ministry, his department has long been negotiating with the United States, Great Britain and Canada on the introduction of a visa-free regime, however, during a visit to Washington, the Ukrainian side proposed a new initiative.
“We have another initiative that we proposed to the Americans – this is a free trade zone between Ukraine and the United States, because we want to strengthen our economy. And we all understand that if we want to fight, we need a strong economy that allows us to create reserves and then spend them on defense, “Kuleba noted.
A free trade zone is a type of international integration in which the member countries abolish customs duties, taxes and fees, as well as quantitative restrictions on mutual trade in accordance with an international treaty. In most cases, the terms of the FTZ apply to all goods except agricultural products.
As a reminder, within the framework of the visit of the Ukrainian delegation to the United States, the US Trade Representative Katherine Tai met with the Minister of Economy of Ukraine Oleksiy Lyubchenko. The parties discussed a number of economic issuesincluding increased trade between the two countries.
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