The Cabinet of Ministers of Ukraine has approved a draft law concerning the ratification of the Comprehensive Economic Partnership Agreement between the governments of Ukraine and the United Arab Emirates. This document establishes a free trade regime between the two countries, opening new horizons for Ukrainian businesses in the global market.
This is reported by Finway
Thanks to the agreement, which covers almost the entire range of bilateral trade goods, an increase in the production and export volumes of Ukrainian products is expected. A significant advantage will be the reduction of tariff barriers, which will promote export growth in key sectors such as metallurgy, food industry, as well as flour and oil production.
Advantages for Ukrainian Entrepreneurs
In addition, the United Arab Emirates has lifted restrictions on the share of foreign capital for Ukraine. This will allow Ukrainian entrepreneurs to register companies with foreign capital of up to 70%, and in certain sectors, gradually up to 100%.
Digital Sector and New Opportunities
As part of the agreement, tariffs on digital and electronic data transmission, including electronic content, are also eliminated. This opens new opportunities for the development of the IT sector in Ukraine.
“This is the first agreement in Ukraine’s history with the Gulf countries.”