Ukraine and Britain agree on digital trade

Ukraine and Great Britain have concluded an agreement on digital trade.

This follows from a statement by the Ministry of Economy, the Ukrainian News agency reports.

"On March 20, the signing ceremony of the agreement on digital trade between Ukraine and the United Kingdom of Great Britain and Northern Ireland took place. The agreement is a legal foundation for the greater development of the digital economy - from e-commerce to cyber security - trade in digital products and services between Ukraine and Great Britain. This is a trade "a new generation agreement is primarily aimed at preventing the appearance of barriers in the future. This is important because states worldwide are increasingly regulating the digital sphere. For Ukrainian IT companies, maintaining free access to markets is a basic condition for further development," the message reads.

It is noted that Ukraine became the second country in the world with which Great Britain signed the Agreement on Digital Trade, and Singapore became the first such country.

As the Ukrainian News agency earlier reported, in December 2022, Ukraine and Great Britain agreed to conclude an agreement on digital trade.

In particular, the agreement provides for: the non-application of customs duties (but freedom of taxation) in digital trade, maintenance of the general legal framework for electronic transactions, the conclusion of contracts electronically, electronic identification, paperless trade, protection of personal information, etc.

More than two-thirds of British export services to Ukraine are already provided digitally.

At the same time, a single window will be created for traders and government bodies.