Full restoration of navigation safety in the Black Sea is a common interest of Ukraine and Turkey: Yuliia Svyrydenko

First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko and Minister of Trade of the Republic of Turkey Ömer Bolat discussed the finalisation of the ratification of the Free Trade Agreement on mutually beneficial terms. They also touched upon the issues of improving the conditions for mutually beneficial trade, expanding cooperation between Ukrainian and Turkish businesses, strengthening control over the implementation of sanctions against russia, food security under President Zelenskyy’s Peace Formula, and Turkey’s role in ensuring the safety of navigation and mine clearance in the Black Sea. The meeting took place during the visit of the Ukrainian delegation to Istanbul. Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine, also took part in the bilateral conversation.

“We are grateful to Turkey for its support of Ukraine and highly appreciate the political, military and humanitarian assistance provided, as well as mediation in the exchange of prisoners of war. We look forward to strengthening and developing the strategic partnership between Ukraine and Turkey in all areas. We look forward to Turkey’s active participation and leadership in the food security component, as well as to help further engage other countries, including the Global South, in this work. Thanks to our joint efforts, we were able to restore freedom of navigation in the Black Sea and significantly increase exports through the corridor in territorial waters. Turkey is already a de facto hub for the supply of our grain to other countries. For example, we have sent ships with grain to African countries through Turkey, including 25,000 tonnes to Nigeria and 15,000 tonnes to Sudan. We look forward to Turkey’s active participation in the Grain from Ukraine initiative in the future,” said Yuliia Svyrydenko.

According to her, the full restoration of safety of navigation in the Black Sea is a common interest of Ukraine and Turkey. No state has the right to restrict it. The resumption of ferry services between the ports of Ukraine and Turkey should be another important element in strengthening food security.

The parties also discussed bilateral trade and the introduction of a free trade area after the ratification of the Free Trade Agreement between Ukraine and Turkey. The Ukrainian parliament is yet to adopt the relevant decision.

“The implementation of the free trade zone should harmonise mutual trade, simplify logistics, facilitate the entry of more Ukrainian and Turkish producers into the markets of our countries, and open up new prospects for the implementation of joint economic projects between the countries. After the agreement is ratified, all Black Sea littoral countries, with the exception of russia, will be united into a single economic space.

To make such cooperation mutually beneficial, we discussed ways to further improve joint trade, including as part of Ukraine’s reconstruction and Ukraine’s integration into the European Union,” explained Yuliia Svyrydenko.

Another topic of the meeting was attracting investments from Turkish private businesses for Ukraine’s recovery, as well as the possibility of providing Turkish investors in Ukraine with affordable war risk insurance and export guarantees.

The parties also discussed issues aimed at preventing the circumvention of sanctions with the use of Turkish companies. Ukraine expects Turkey to continue to take measures to block the supply of dual-use goods used by russia for military purposes.

“It is important for us to continue joint efforts to eliminate loopholes that undermine the sanctions policy against russia. We also discussed with our Turkish colleague the issue of russia’s illegal export of more than 4.5 million tonnes of Ukrainian grain from the temporarily occupied territories of Ukraine. We ask the Turkish authorities to take appropriate measures to stop the import or transit of stolen Ukrainian grain through Turkey. Ukraine also insists that measures be taken against the companies, vessels and their owners involved in this,” Yuliia Svyrydenko continued.

During the visit to Istanbul, the Ukrainian delegation also met with the leadership of the Foreign Economic Relations Board of Turkey (DEİK). This organisation brings together leading local enterprises that are to establish foreign economic relations with foreign businesses. Many companies that are members of DEİK are already present in Ukraine, and some of them are considering investing in the Ukrainian economy. Therefore, the parties discussed the possibilities of developing and expanding the presence of Turkish manufacturers of high value-added products in Ukraine.

“Today, the key priority for Ukraine is to attract investments to strengthen the country’s security capabilities both in the context of war and post-war recovery, which will contribute to the reconstruction and restoration of our country. Private capital is an integral part of Ukraine’s recovery and sustainable growth,” said Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine.