The British Government informed on March 20, 2023, that the UK and Ukraine have signed a digital trade deal. This will help the economy of the two countries and strengthen investment and trade relations between the UK and Ukraine.
Source: The British Government
“The historic digital trade deal signed today paves the way for a new era of modern trade between our two countries. We are also extending tariff free trade on imports from Ukraine to early 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 UK Business and Trade Secretary Kemi Badenoch.
Thanks to the signed agreement, Ukraine will receive guaranteed access to financial services, which are crucial for the country’s recovery, thanks to the simplification of cross-border data flows. Ukrainian business will also be able to trade with Britain more efficiently and cheaply with the help of electronic transactions, electronic signatures and electronic contracts.
Earlier, the Ministry of Digital Affairs announced that Ukraine would become the second country in the world (after Singapore) to sign an agreement on digital trade with Great Britain.
In April 2022, Britain canceled all tariffs and restrictions on Ukrainian exports under the free trade agreement.
See also: Ukraine and Britain signed Declaration of Unity
