Turkiye, Ukraine to reinstate Economic Cooperation

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Turkiye-Ukraine Reinstate Economic Cooperation
Turkiye-Ukraine Reinstate Economic Cooperation

Istanbul, 3 October 2022 (TDI):  Dr. Mehmet Mus, Trade Minister Republic of Turkiye hosted Yuliya Sviridenko the first Deputy Prime Minister and the Minister of Economy of Ukraine. Both counterparts aspired to restore the economic cooperation between both states.

Yuliya Sviridenko was on an official visit to Turkiye. This is her second visit during the time of crisis in Ukraine.

During the meeting, both ministers discussed the course of reconstruction and the role of Turkish contractors in post-war Ukraine. A few other related significant issues also conversed including the functioning of the Grain Corridor internal Ratification process of the Free Trade Agreement.

Grain Corridor and Free Trade Agreement 

Turkiye, Ukraine, Russian Federation, and United Nations launched Grain Corridor in July 2022. It enabled the resumption of exports of grain, foodstuffs, and fertilizers from Ukraine through a safe maritime humanitarian corridor from three Ukrainian ports, in the Black Sea.

In the meeting, both counterparts agreed that freedom of navigation in the Black sea is the only solution to build up economic cooperation in bilateral relations. The smooth functioning of the Grain Corridor can lead to the restoration of supplies of multiple goods.

The ministers also observed the ratification process of the Free Trade Agreement between both states. The agreement has two-fold advantages for Ukraine. It will not only boost trade but also assist the economic reconstruction by overcoming the damages of war. Both sides agreed to the immediate ratification and implementation of the FTA.

Also read: EU to assist Ukraine through Macro-Financial Assistance Program

Remarks of Deputy Prime Minister of Ukraine

Yuliya Sviridenko thanked and appreciated Mehmet Musu for his supportive behavior and conduction of a productive meeting. She specified that Turkiye is ready to participate in the reconstruction process of the Kharkiv region that was devastated due to the Russia-Ukraine Crisis.

She further stated that for the restoration of Ukraine, the re-establishment of cooperative relations between both states is mandatory.