The agreement on free trade between Turkey and Ukraine will be signed before the end of this year, Fatih Metin, Deputy Economy Minister of Turkey said at the meeting of the Association of Turkish Businessmen in Ukraine (TUİD) in Kiev, Anadolu news agency reported.
The meeting was also attended by Mikhail Titarchuk, Deputy Minister of Economic Development Trade of Ukraine and Jonet Jan Tezel, Turkish Ambassador.
The deputy minister noted the rapid growth of the Turkish economy over the past 15 years. According to him, in the first quarter of 2017, the economy of Turkey grew by five percent.
The free trade agreement between Turkey and Ukraine is under development, but the sides have already agreed on most of the points of the document, Metin said.
According to him, negotiations on the agreement are delayed due to the large difference in the cost of goods of industrial production in Ukraine and Turkey.
The deputy minister also said that in recent years the trade turnover between the two countries has decreased due to the political crisis in Ukraine.
“But Turkey and Ukraine have sufficient potential for growth in trade turnover,” Metin said.