Ukraine and North Macedonia expand their free trade area
Ukraine and North Macedonia have updated the annex to the Free Trade Agreement. The signing ceremony took place in the presence of the Prime Minister of Ukraine Denys Shmyhal and the Prime Minister of North Macedonia Dimitar Kovačevski during a meeting of the heads of government in the Czech Republic on October 6.
According to Denys Shmyhal, the updated agreement is aimed to integrate the markets of Ukraine and North Macedonia with the markets of the EU, Türkiye, Moldova, Georgia, Norway, Switzerland, and Israel through the Pan-Euro-Med common rules of origin.
The agreement will contribute to the reduction of prices for goods produced in North Macedonia, which are raw materials for processing enterprises. This is the main advantage for Ukrainian industry. After all, now Ukrainian manufacturers can use components produced in North Macedonia for products to be sold in the EU.Denys Shmyhal, Prime Minister of Ukraine
In addition, the agreement liberalizes agricultural tariffs. As Denys Shmyhal noted, Ukraine would gain access to the market of products of animal origin and finished products, thus contributing to an increase in the export of Ukrainian agricultural products.