A long awaited free trade agreement between Black Sea neighbors Ukraine and Turkey is expected to be signed before the end of 2018 following early November talks between Ukrainian President Petro Poroshenko and Turkish President Recep Tayyip Erdogan. Over 95% of terms have been agreed, with remaining issues revolving around Ukrainian agricultural exports to Turkey and Turkish textile exports to Ukraine.
Bilateral trade between Ukraine and Turkey is currently growing at an annual rate of approximately 20% and is expected to reach USD 4 billion in 2018. Turkey has also emerged in recent years among the top five investors in Ukraine with one of the country’s fastest-growing business communities. As free trade negotiations with Turkey near completion, Ukraine also plans to conclude a free trade deal with Israel by the end of November 2018.