Ukraine and the United Kingdom enter into the Digital Trade Agreement.
On 30 November 2022, this was agreed by First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko and UK’s Secretary of State for International Trade Kemi Badenoch during a bilateral meeting in London.

The Ministry of Economy of Ukraine explains why this is important and how this agreement will change the economy and the lives of ordinary Ukrainians.

What is this Agreement for?

The agreement on digital trade between Ukraine and the United Kingdom of Great Britain and Northern Ireland was developed with the aim of creating a legal framework for the development of digital trade between the two countries.

• The updated provisions on digital trade should ensure the creation of an appropriate digital infrastructure and regulatory digital environment.
• A single window will be created for traders and public authorities.
• The growth of trade in services and the introduction of adequate protection of personal data is expected.
• Access to public resources of the two countries should also improve.

What does the Agreement provide?

The Agreement will cover modern spheres of economy and social life, which include the following changes:

Digital trading systems:

• reducing the cost of trade administration by implementing digital solutions and technologies;
• possibility of safe and full use of digital signatures, electronic contracts, electronic invoices for international trade;
• joint recognition of electronic authentication and digital signatures;
• introduction of the “single window” principle for cooperation between traders and government structures.

Free data exchange:

• prohibition of unreasonable restrictions on cross-border data transfer;
• creation of prerequisites for the growth of trade in services based on access to data in the field of financial services, agriculture, industry, legal services, engineering, etc.;
• prohibition of localization restrictions (the possibility of service delivery without physically moving databases), promotion of personal data protection and implementation of appropriate frameworks, improvement of access to public data managed by the state.

Consumer protection:

• strengthening the protection of consumer rights in the online space;
• implementation of legislation on the prohibition of misleading information;
• cyber security;
• protection of cryptographic data;
• protection of computer programs and software codes.

Open digital markets:

• duty-free digital content;
• cooperation in the field of competitiveness;
• small business support;
• standards and compliance;
• inclusiveness of the digital economy.

Financial services:

• exchange of financial information;
• new financial services;
• updated electronic payments.

Technical cooperation:

• artificial intelligence and use of the latest technologies;
• cooperation in the field of legal technologies;
• cooperation on the recognition of digital documents.

What is expected?

The Government expects that the conclusion of the Agreement will have a positive effect on the national economy, namely it will:

• create appropriate legal grounds in Ukraine for the digital transformation of priority industries and spheres of social life;
• contribute to the development of the digital economy, IT business, artificial intelligence and supercomputers;
• improve people’s digital skills.