On August 27, 2024, the Cabinet of Ministers of Ukraine's Resolution No. 961, dated 23 August 2024, came into effect. This resolution approved the Agreement between the Government of Ukraine and the Government of the Republic of Türkiye on the establishment of a system for the digital exchange of preliminary information regarding goods and vehicles transported between the two countries, which was signed on March 08, 2024 in Istanbul.
Under the terms of the Agreement, the customs authorities of Ukraine and Türkiye will establish a system to exchange predetermined sets of data electronically. This system will facilitate a direct exchange of information between the State Customs Service of Ukraine and the Ministry of Trade of the Republic of Türkiye. The initiative builds upon previous agreements, such as the Free Trade Agreement (FTA) that took effect earlier in 2024. Under the FTA, both countries agreed to reduce tariffs on a wide range of goods over time, boosting trade, particularly in sectors like agriculture and industrial products.
Impact of the Agreement. The information exchanged between the customs authorities of both countries will be incorporated into risk analysis systems. This is expected to expedite the movement of goods and vehicles across the borders of Ukraine and Türkiye, reduce the influence of human factors, and help combat customs violations. Additionally, the Agreement will safeguard intellectual property rights, thereby contributing to the safety of both countries' markets. For businesses, this digital advancement will make cross-border trade smoother, helping them to better navigate trade barriers and focus on increasing exports and imports in critical sectors such as agriculture, renewable energy, and industrial goods.
In conclusion, electronic data exchange system reflects the increasing digitization of international trade and highlights a broader strategic alignment between Ukraine and Türkiye, fostering closer economic ties during a challenging geopolitical period.
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