President of Ukraine

Andriy Yermak in Chatham House: The Agreement signed between Ukraine and Great Britain is very ambitious and a win-win for both parties

8 October 2020 - 22:05

Andriy Yermak in Chatham House: The Agreement signed between Ukraine and Great Britain is very ambitious and a win-win for both parties

Head of the Office of the President Andriy Yermak stressed that the Agreement on Political Cooperation, Free Trade and Strategic Partnership signed between Ukraine and the United Kingdom is very ambitious, covers many areas and expands political and economic cooperation. He said this during a speech at the Royal Institute of International Affairs Chatham House.

"The signing of this document means that our countries really have common values. We, Ukrainians, are committed to democracy, respect for human rights and international law. We also share an understanding of all global threats: what they are, where they come from and how to deal with them. We understand very clearly and have a desire to be partners in solving global challenges," he said.

According to Andriy Yermak, the Agreement allows for synergies between technologies and different sectors of the two economies, such as agriculture and services.

"This agreement is much more ambitious in terms of mutual market access than the existing free trade agreements that Ukraine has previously signed. In addition, Britain is already concluding agreements on unimpeded access to industrial products in relations with the EU, we call it "industrial visa-free regime"… And Ukraine is not the last in the list of countries with which such an agreement can be concluded. This is very important," the Head of the President's Office noted.

He stressed that the signed agreement is definitely a win-win for both Ukraine and the United Kingdom that will help increase bilateral trade, which currently amounts to about 2 billion pounds.

"This agreement will also help the UK address possible issues related to the post-Brexit transition. And for Ukraine, it will provide an opportunity to diversify our export markets. I think that it will also provide opportunities to unleash great trade prospects for both countries," Andriy Yermak said.

It is also about stimulating investment, protecting intellectual property and expanding political and economic cooperation.

In addition, he said, the agreement will help expand cooperation between countries in the field of trade in services.

"Here, Ukraine can offer something valuable to British companies looking for technical and IT expertise. The agreement, we hope, will bring together London as the financial capital of Europe and Ukraine as a very fast-growing IT cluster in Europe,” Andriy Yermak said.

The Head of the Office of the President added that the Agreement became a powerful step in the relations between the two countries, although the United Kingdom is a longtime partner of Ukraine and bilateral relations go far beyond this document.

Andriy Yermak also focused on military cooperation, which is extremely important given the situation in Ukraine. He recalled the recent strategic joint exercises and expressed confidence in further strengthening cooperation between Ukraine and the United Kingdom in the military and military-technical spheres.