Ukraine and Thailand sign a trade agreement

Doing business in Ukraine, economy: Ukraine and Thailand sign a trade agreement

On 5 June 2017, #Ukraine signed a #trade #pact with the #Kingdom of #Thailand during Ukrainian #Minister’s of #Foreign #Affairs visit to Thailand. Deal aims to open additional possibilities for #mutually #beneficial #cooperation between both countries, #broaden and #diversify #bilateral #trade and #economic relations as well as to give each #nation an #access to each other’s #markets.

Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.

Ukraine and Thailand have signed a trade agreement that is set to increase bilateral market access for Ukrainian and Thai goods and exporters. The trade pact was signed on 5 June 2017 during the visit of Ukrainian Minister of Foreign Affairs Pavlo Klimkin to Thailand where he met with Minister of Foreign Affairs of Thailand Don Pramudwinai. During the meeting, the Foreign Ministers expressed their interest in intensifying bilateral contacts and political dialogue and exchanged views on a wide range of international issues. Representatives from both countries promoted the benefits of the trade agreement for industries and consumers. The intergovernmental trade agreement is aimed at developing ties between businesses, founding joint ventures and representative offices in both countries. Furthermore, the trade agreement provides for launching a joint commission on trade issues to be chaired by Ukraine’s Minister of Economic Development and Trade and Thailand’s Commerce Minister.

Thailand is the main trading partner of Ukraine in Southeast Asia. The trade agreement with the Thai government opens additional possibilities for mutually beneficial cooperation between the two nations in the area of investments and economic development. Trade turnover between Ukraine and Thailand reached USD 600 million in 2016, showing a positive balance in favour of Ukraine of USD 255 million.

In addition to the trade agreement, the sides have also signed an agreement between Ukraine and the Kingdom of Thailand on mutual legal assistance in criminal cases to facilitate mutual judicial assistance between the authorities of both countries in order to improve the speed and efficiency of judicial cooperation. The agreement is set to facilitate bilateral contacts between law-enforcement agencies and businesses of both countries.

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