Ukraine signs updated free trade agreement with EFTA countries: what it means for businesses

Ukrainian Prime Minister Denys Shmyhal reported the information.

According to him, the updated agreement is a restart of the 2010 document, adapted to the new reality. It opens up new opportunities for Ukrainian businesses in large markets with high purchasing power. 

The government leader explained that the new agreement includes updated sections on simplifying trade procedures, sanitary and phytosanitary measures, public procurement, technical cooperation, and intellectual property protection. Additionally, new chapters were added on e-commerce, support for small and medium-sized businesses, trade, and sustainable development. Moreover, the agreement includes modern rules on the origin of goods, paving the way for deeper integration into European supply chains.

The Ukrainian government also signed separate updates to agreements with Norway, Iceland, and Switzerland in the agricultural sector. This will help reduce barriers and expand access for Ukrainian goods to these markets. "Step by step, we are making Ukraine a full-fledged part of economic Europe," emphasized Shmyhal.

For reference: The European Free Trade Association (EFTA) is a free trade zone that brings together the customs territories of four European countries that are not members of the European Union: Iceland, Liechtenstein, Norway, and Switzerland. The free trade zone ensures that member countries benefit from free trade in goods and services, as well as guaranteeing the free movement of capital and individuals.