UK extends tariff-free trade with Ukraine until 2029

The United Kingdom on Thursday said it would extend tariff-free trade with Ukraine on almost all goods until 2029, providing Kyiv with further favorable trade conditions after the Russian invasion, Reuters reports, UNN writes.

Details

The UK removed tariffs on all of its trade with Ukraine after Russia's war against Ukraine began almost two years ago, and they had previously agreed that the agreement would last until March 2024.

The UK Department of Business and Trade has announced that duty-free trade will be extended for all goods for five years, with the exception of eggs and poultry, which will be extended for two years, and that UK firms will also benefit from the abolition of export duties to Ukraine.

"This deal provides much-needed long-term economic support for Ukraine, its businesses and people, which is crucial to its recovery," said Junior Trade Secretary Greg Hands, adding that the UK's support will continue "for as long as it takes.

In addition

The United Kingdom, as Reuters writes, has supported Ukraine's military efforts by providing weapons and aid, as well as favorable trade terms, including a new digital trade agreement.