The Verkhovna Rada of Ukraine has ratified the Agreement on the Abolition of Import Duties and Tariff Quotas in Bilateral Trade between Ukraine and the United Kingdom by 301 votes in favor, which will be in force for at least the next 12 months.

The abolition of import duties and tariff quotas for Ukrainian producers will increase exports of Ukrainian agricultural products, which are traditionally supplied to the UK. These include flour, dairy products, poultry and semi-finished products, tomato paste, juices, sugar and more.

Also, the opening of new markets will promote the development of Ukrainian production, including goods with high added value, which will allow the country to ramp up foreign exchange earnings aimed to strengthen the domestic economy.