Ukraine preparing free trade agreement with Egypt to boost agricultural exports

Egypt has expressed support for Ukraine's proposal to sign a free trade agreement or a preferential agreement to increase the volume of trade in agricultural products and other goods, Ukrainian Minister of Agrarian Policy Vitaly Koval announced during a meeting with Egyptian Minister of Finance Ahmed Kouchouk.

Egypt is one of the largest importers of Ukrainian agricultural products, with Ukraine's exports to Egypt amounting to $1.6 billion in 2024. To further develop this cooperation, it is crucial to remove restrictions that complicate financial operations, Koval stated.

Both countries intend to renew their double taxation agreements to create more transparent and favorable conditions for doing business.

Additionally, Ukraine and Egypt aim to strengthen administrative cooperation between their customs services to simplify and expedite trade between the two countries.

"Streamlining financial procedures and removing administrative barriers are important steps in strengthening Ukrainian-Egyptian trade partnerships. We continue to work on opening new opportunities for Ukrainian agribusinesses in the Egyptian market," Koval added.

According to Trade Representative Taras Kachka, Ukraine plans to sign free trade agreements with most countries of the Pan-Euro-Mediterranean Convention, including, besides Egypt, Lebanon, Tunisia, Algeria, Morocco, Serbia, Jordan, Albania, Bosnia and Herzegovina, Palestine, Syria, and the Faroe Islands.

"Here, the scope of trade is not as important as the opportunity to build production chains," Kachka wrote on social media.

On January 30, Ukraine proposed to the EU the introduction of an agricultural export schedule.