UK-Ukraine digital trade deal aims to support economy and help postwar rebuild

Initiatives designed to protect jobs, livelihoods and families now and in future

Business and Trade Secretary Kemi Badenoch. PA

A new digital trade deal between the UK and Ukraine will help support the country’s economy during the war with Russia and as it rebuilds in the future.

As part of the agreement, Ukrainian businesses will be able to trade more efficiently and cheaply with the UK through electronic transactions, e-signatures, and e-contracts.

Ukrainian businesses will also be able to access UK financial services through provisions on cross-border data flows.

“The historic digital trade deal signed today paves the way for a new era of modern trade between our two countries,” Business and Trade Secretary Kemi Badenoch said.

“We are also extending tariff-free trade on imports from Ukraine to early 2024, providing much-needed support to Ukrainian businesses.

“These initiatives will help protect jobs, livelihoods and families now and in Ukraine’s postwar future.”

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“This digital trade agreement illustrates that Ukrainian IT companies operating in Ukraine are in demand around the world despite all the challenges of war,” Ukraine’s Economy Minister Yulia Svyrydenko said.

The deal, signed virtually on Monday, was agreed in principle in November.