The Government welcomes the ratification of the Digital Trade Agreement between Ukraine and the United Kingdom of Great Britain and Northern Ireland by the Verkhovna Rada of Ukraine. This document will deepen Ukraine's participation in global supply chains, promote the development of small and medium-sized businesses and women's participation in the digital economy, and reduce barriers to participation in global digital trade. This was stated by Yulia Svyrydenko, First Vice Prime Minister of Ukraine, Minister of Economy of Ukraine.

"The entry into force of the Digital Trade Agreement between Ukraine and the Great Britain will help reduce the cost of trade administration through the introduction of digital solutions and technologies, the use of electronic digital signatures, electronic contracts and invoices for international trade. It establishes the basic rules for trade in digital goods and services between States, and will help to deepen Ukraine's participation in the global economy and enhance our country's image as a trading partner. The Agreement will be an important step towards an effective tool to support the national economy in wartime and during the post-war reconstruction period," said Yulia Svyrydenko.

The Agreement provides a legal framework for the greater development of the digital economy – from e-commerce to cybersecurity – and trade in digital products and services between Ukraine and the Great Britain. 

This new generation trade agreement is primarily focused on preventing future barriers. This is important because states 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.

Yulia Svyrydenko noted that the Great Britain is one of the main partners of our country in the export of services in the field of telecommunications, computer and information services. In 2022, exports of these services totalled $471.3 million and imports – $46.7 million.

It is worth noting that Ukraine has become the second country in the world with which the Great Britain has signed a Digital Trade Agreement. Singapore became the first country to do so.

More details about the Agreement can be found at the link.

For information.:

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 British party has already completed the national procedures. Therefore, the Agreement will enter into force after completion of all domestic procedures in Ukraine.