17:41 07.10.2020

UK to create post of PM's Trade Envoy with Ukraine – ambassador

2 min read
UK to create post of PM's Trade Envoy with Ukraine – ambassador

The post of the Prime Minister's Trade Envoy with Ukraine will appear in the UK, British Ambassador to Ukraine Melinda Simmons said.

Simmons wrote in a blog post for Ukrainska Pravda on Wednesday that Britain will henceforth have Special Envoy of the Prime Minister for Trade with Ukraine Baroness Meyer. This is further testament to the importance that Great Britain attaches to their bilateral economic cooperation with Ukraine.

The diplomat also said that the Agreement on Political Cooperation, Free Trade and Strategic Partnership, which will be concluded between the UK and Ukraine this week, underlines the countries' common values. Both countries commit themselves to upholding democratic principles, human rights and fundamental freedoms, as well as the international legal order that preserves peace. One of the fundamental points recorded in the document is the complete restoration of the territorial integrity and sovereignty of Ukraine.

It will also be Britain's first bilateral trade agreement with Ukraine, setting out the rules according to which companies and entrepreneurs in Ukraine can sell their goods and services in the UK and vice versa.

Simmons said that the Agreement will also cover economic and sectoral cooperation in the following areas: energy, mining, industrial policy, agriculture, information society, environment and global challenges to combat climate change.

The British ambassador pointed to the possibility of a significant increase in exports for both countries.

In terms of actual bilateral trade and investment, increasing the availability of export finance, along with work to remove trade barriers and vigorous marketing, should provide significant increases in exports for both countries. The British side sees opportunities in the defense and nuclear sectors in food and beverage, automobiles, aerospace and advanced agricultural technology.

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