News

UK-Ukraine Strategic Partnership Agreement

Trade and market access 

Brexit pulse alert: respond to the business impacts of Brexit

8 October, 2020

Brexit development

The UK government has signed a strategic partnership agreement with Ukraine, which includes a continuity trade agreement to ensure that businesses in both countries can continue to trade on largely the same terms as present.

Top Brexit impacts

The agreement provides certainty to businesses that trade between the UK and Ukraine will continue on largely the same terms as secured in the EU-Ukraine Association Agreement, to which the UK is currently party. Last year, the UK conducted over £1.5 billion in trade with Ukraine, representing around 0.1% of GDP.

The UK government has said the new agreement “delivers the same level of liberalisation in trade, services and public procurement that businesses currently enjoy”. It also includes some additional commitments on defence and political cooperation, which “underlines the UK’s support for Ukraine’s sovereignty and territorial integrity”.

This is the first agreement of its type signed by the UK which combines continuity of trade with wider policy commitments, including on peaceful conflict resolution, security, climate change and human rights.

Actions for business

Businesses trading within the UK-Ukraine corridor will be able to plan for the future with greater certainty. Firms will now have some time to examine the legal text of the agreement. The trade measures will come into effect after the transition period on 1 January 2021.

To discuss specific support with your Brexit preparations based on this latest development contact: Deloitte Brexit Insight

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