The UK and Ukraine have been engaging on the future growth of trade and investment links between both countries after the UK leaves the EU, including during the Ukrainian Deputy Economic Development and Trade Minister – Trade Representative of Ukraine, Nataliya Mykolska’s, recent visit to London.
As the UK is in the process of exiting the EU, Ukraine welcomed the UK’s intention to avoid any disruption to trade. In particular, both countries welcomed ongoing discussions to ensure continuity of the EU-Ukraine Association Agreement, which includes a Deep and Comprehensive Free Trade Agreement (DCFTA), which facilitates more than £1.7 billion in trade between the 2 countries, once the UK leaves the EU.
The UK informed Ukraine on the UK-EU agreement, reached at the March European Council, that the UK is to be treated as a member state for the purposes of international agreements during the EU-UK Implementation Period. This should provide further certainty to both British and Ukrainian traders that there will be no disruption to the existing trading relationship during the Implementation Period, and that in particular the preferential terms of EU-Ukraine DCFTA will continue to apply to both parties during the Implementation Period.
Both countries agreed to work together to strengthen UK-Ukrainian trade.