Poroshenko, Erdogan agree on mutual investment protection, 90-day visas for Ukrainians

10:05, 24.05.2016 1 min read

Ukrainian President Petro Poroshenko and his Turkish counterpart Recep Tayyip Erdogan during a meeting in Istanbul have reached a series of agreements on protection of investments and avoidance of double taxation.

"First: final harmonization of an agreement on mutual investment protection and an agreement on avoidance of double taxation that opens mutual investment opportunities for Turkish investors in Ukraine and for Ukrainian investors in Turkey," the presidential press service quoted Poroshenko as saying.

The parties also agreed to step up the talks regarding the free trade area in order to reach a compromise and to remove any obstacles in bilateral economic cooperation.

The Ukrainian president also said that they reached an agreement to increase the term of validity of national visas for the uninterrupted stay of Ukrainians in Turkey up to 90 days.

The two presidents also discussed new projects in the fields of mechanical engineering and aircraft construction, as well as defense industry.