Trump confirms Ukraine will get free trade zone, Zelenskyy says
Photo: Ukrainian President Volodymyr Zelenskyy and US President Donald Trump on January 22 in Davos (facebook: zelenskyy.official)
Ukrainian President Volodymyr Zelenskyy confirms that during talks in Davos, US President Donald Trump supported the idea of creating a free trade zone (FTZ). This decision could be one of the most important for Ukrainian business.
"We discussed this issue, and Trump supports this idea. I think it will be a positive decision for our business. We will look at the details later, but we are grateful for this proposal. Trump has once again confirmed that Ukraine will get it," the Ukrainian President says.
Free trade zone: what it means for Ukraine
A free trade zone is a format of deep economic integration that provides for the complete or partial abolition of customs duties, taxes, and quantitative restrictions between participating states.
Under such an agreement, countries agree on the free movement of goods and services, allowing businesses to operate without unnecessary financial barriers.
The introduction of a free trade area means lower export and import costs for entrepreneurs, the elimination of bureaucratic barriers at the border (quotas, licenses), and the creation of a level playing field for competition in the markets of all signatory countries.
US Special Envoy Steve Witkoff said in Davos that after the war, Ukraine could receive a unique duty-free regime with the United States.
This should be a key incentive for massive investment.
According to US Special Envoy Steve Witkoff, Donald Trump sees the creation of a tariff-free zone as a strategic move that could radically change the rules of the game and stimulate a massive return of industry to the region.
In addition, within the FTZ, each country retains the right to independently establish rules for trade with third countries.
