Zelenskyy: Ukraine and Ecuador to work toward free trade agreement
Photo: President of Ukraine Volodymyr Zelenskyy (president.gov.ua)
Ukrainian President Volodymyr Zelenskyy held a conversation with Ecuadorian President Daniel Noboa. They discussed the possibility of signing a free trade agreement and agreed that their teams would work on it.
"I spoke with President of Ecuador, Daniel Noboa. I personally congratulated him on his re-election and thanked him for supporting Ukraine’s sovereignty and territorial integrity. I value the dialogue we’ve already established and look forward to strengthening cooperation between our countries and our people — this was the focus of our conversation," President Zelenskyy reported.
According to him, Ecuador is interested in developing an economic partnership with Ukraine and in importing a number of food products.
"We discussed the possibility of concluding a free trade agreement and agreed that our teams will work on it. We also talked about our cooperation within the Ukraine–Latin America format. We’ll continue working on steps toward even closer engagement," the president added.
A free trade agreement is a treaty between two or more countries aimed at reducing or eliminating import duties and other trade barriers on each other’s products.
In April of last year, Ukraine and the United Arab Emirates signed a Joint Statement on the conclusion of negotiations on a Comprehensive Economic Partnership Agreement. It was then noted that the agreement could increase Ukraine’s GDP by 0.1%.
In August 2023, Ukraine and North Macedonia launched a free trade area.
