The UK will support Ukrainian business by extending tariff-free trade for another five years until 2029, the UK Department for Business and Trade said in a statement on Thursday.

According to it, UK Trade Minister Greg Hands and First Deputy Prime Minister, Minister of Economy of Ukraine Yulia Svyrydenko will sign the document at a virtual ceremony on Thursday.

"The UK was the first country to remove tariffs on all its trade with Ukraine two years ago. Today’s announcement to significantly extend this existing agreement sees the UK continue that leading role, giving Ukrainian businesses and exporters much needed economic support and certainty," the department said.

This latest agreement will see tariff-free trade extended on all goods for five years, except eggs and poultry which will be extended for two years.

The UK government initially offered tariff-free trade in May 2022 on a non-reciprocal basis, without expecting or asking the Ukrainian side in return, but Ukraine insisted on also removing tariffs on British goods imported into the country.

The tariff-free agreement, signed in May 2022, was due to expire on March 31, 2024.

According to the press release, the signing builds on the Prime Minister's commitment that the UK will provide GBP 2.5 billion in military aid to Ukraine in 2024-25, an increase of GBP 200 million on the previous two years, which will include the largest delivery of drones to Ukraine from any nation.

Overall, the UK has provided Ukraine with more than GBP 10 billion in military, humanitarian and economic support since Putin's full-scale invasion in 2022.