Ukraine and the United Kingdom sign a Digital Trade Agreement
20.03.2023 | 15:48 | Section for Public and Mass Media Relations
Today, on 20 March, the Digital Trade Agreement between Ukraine and the United Kingdom of Great Britain and Northern Ireland was signed. The Agreement provides a legal framework for the greater development of the digital economy – from E-commerce to Cybersecurity – and trading in digital products and services between Ukraine and the United Kingdom.
This is a new generation of trade agreement – focused primarily on preventing barriers in the future. This is important because countries around the world are increasingly regulating the digital sphere. For Ukrainian IT companies, maintaining free access to markets is a basic condition for further development.
The document was signed by Yuliia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine, and by Kemi Badenoch, Secretary of State for Business and Trade, President of the Board of Trade and Minister for Women and Equalities, on behalf of the UK.
The Ministry of Digital Transformation was involved in the negotiation process with the British party, in particular in terms of recognition of electronic authentication and electronic trust services, personal data protection, new technologies, and open access to the Internet.
Yuliia Svyrydenko expressed her gratitude to the British party for the rapid and unprecedented military, financial and technical assistance from the first days of the full-scale invasion, as well as for support in the field of digital trade.
"Today's event is indeed a key moment in our bilateral relations, another big step towards expanding cooperation between Ukrainian and British businesses. The implementation of the Agreement will deepen Ukraine's participation in global supply chains, promote the development of SMEs and women's participation in the digital economy, and reduce barriers to participation in global digital trade," said Yuliia Svyrydenko.
The First Vice Prime Minister of Ukraine also stressed the importance of today's event in terms of Ukraine's rebuilding. The signing of this Agreement will lay the groundwork for the practical content of the Ukraine Recovery Conference to be held in London in June this year, and will strengthen the Ukrainian-British investment partnership. In addition, the upcoming Conference will significantly contribute to mobilising international support for Ukraine's economic and social stabilisation and post-war reconstruction.
For her part, Kemi Badenoch noted that the United Kingdom will continue to stand with Ukraine in its fight against Russian aggression. She stressed that the United Kingdom is interested in developing a partnership between businesses in both countries, further trade liberalisation and the implementation of joint projects to rebuild Ukraine.
It is worth noting that Ukraine became the second country in the world with which the UK signed a Digital Trade Agreement. The first country to do so was Singapore.
For reference:
The Digital Trade Agreement complements the Agreement on Political Cooperation, Free Trade and Strategic Partnership between Ukraine and the United Kingdom of Great Britain and Northern Ireland. The agreement will enter into force after completion of all the national procedures.
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