Ukraine signs first digital trade agreement in history
Photo: Ministry of Economy

On Monday, March 20, Ukraine signed the first digital trade agreement in its history, the Ministry of Economy reported .

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"This agreement will give impetus to the export of digital products from Ukraine. Last year, the Ukrainian digital economy increased its exports to $7.3 billion," said Minister Yulia Svyridenko on Facebook.

The agreement should become a legal foundation for greater development of the digital economy (from e-commerce to cyber security), trade in digital products and services between Ukraine and the United Kingdom.

It is designed to guarantee Ukraine and Ukrainian IT companies free access to the British market.

The Ministry of Digital Transformation was involved in the preparation of the agreement, in particular in terms of recognition of electronic authentication and electronic trust services, protection of personal data, the latest technologies, and open access to the Internet.

The agreement on digital trade complements the agreement on political cooperation, free trade, and strategic partnership between Ukraine and UK. The agreement will enter into force after all domestic procedures have been completed.