Estimated reading time: 2 minutes
On November 30, the UK and Ukraine are set to agree a new Digital Trade Agreement (DTA).
Trade Secretary Kemi Badenoch MP and Ukraine’s First Deputy Prime Minister and Minister for Trade and Economy Yulia Svyrydenko will meet in London today to finalise the deal.
It is the second such trade deal the UK has secured, following the world-leading agreement with Singapore finalised earlier this year.
UK negotiators worked with their Ukrainian counterparts to deliver a deal after the Ukrainian government highlighted the important role Ukraine’s first-ever digitally focused trade agreement could play in bolstering the country’s economy.
Trading digitally is particularly important in the current conflict, where damage to Ukrainian infrastructure makes it much harder to trade physically.
Digital tools and technologies will help Ukrainians access vital everyday goods and services.
Trade Secretary Kemi Badenoch MP said, “This agreement will mean [Ukraine and UK] our businesses and governments can collaborate even more.”
First Deputy PM and Minister for Trade and Economy Yulia Svyrydenko said, “The Ukraine-UK Digital Trade Agreement has enshrined core freedoms for trade in digital goods and services. Ukraine believes that an open and free framework for the digital economy is the best investment in future-oriented development.”
By streamlining digital border processes, Ukrainian businesses will be able to better access the digitally delivered goods and services they need to succeed. They will also be able to trade more efficiently and cheaply with the UK through electronic transactions, e-signatures, and e-contracts.