United Kingdom to extend tariff-free trade with Ukraine until 2029

MOSCOW. Feb 8 (Interfax) - The United Kingdom will continue to support Ukrainian businesses by extending tariff-free trade for another five years, until 2029, Ukrainian media reported, quoting a UK Department for Business and Trade press release.

UK Trade Minister Greg Hands and Ukrainian First Deputy Prime Minister Yulia Sviridenko will sign the relevant document in a virtual ceremony on Thursday.

"The UK was the first country to remove tariffs on all its trade with Ukraine two years ago. Today's announcement to significantly extend this existing agreement sees the UK continue that leading role, giving Ukrainian businesses and exporters much needed economic support and certainty," the press release says.

The agreement will see tariff-free trade extended on all goods for five years, except eggs and poultry which will be extended for two years.

The UK government originally offered tariff-free trade in May 2022 on a non-reciprocal basis, with no expectation and nothing asked of the Ukrainian government in return, however Ukraine insisted on the removal of tariffs on UK goods entering Ukraine.

The tariff-free trade agreement signed in May 2022 was due to expire on March 31, 2024.

The UK has provided over GBP 10 billion in military, humanitarian and economic support to Kiev since the military operation in Ukraine began in 2022.