Turkey and Ukraine have negotiated a trade agreement designed to replace the current terms. But it hasn't yet been ratified. “They're still evaluating the new deal and many observers seem to think it'll take a while to get that done,” said Burak Pehlivanoglu, the chairperson of the Turkish-Ukrainian Industry and Business Association. The new deal will slash tariffs on critical industries between the two countries. Meanwhile, in November TARMAKBIR organized a technology and farm-equipment-focused trade mission to Kyiv, the capitol of Ukraine, led by a delegation of industry professionals and senior government officials. The Turkish delegation also met with Ukrainian businesses to explore opportunities for future partnership to meet Ukraine’s needs and to promote Turkish manufactured agriculture machinery. Ukraine has some of the most fertile soils in the world, including the famous Chernozems, deep black soils rich in humus. Chernozems occupy about half of the country (about 68 percent of the arable land), followed by Phaeozems and Albeluvisols.
Ukraine’s agribusiness sector remains the most promising sector of the economy and largest export industry. However, the moratorium on sales of arable land hampers access to finance and discourages investment in irrigation and equipment. Effective July 2021, the land market allows farmers to use land as collateral. The new regulations will encourage them to invest more in equipment and infrastructure in a long-term perspective. Considering Ukraine's agricultural situation, the trade mission allowed 10 medium-sized enterprises to network and build connections with over 28 Ukrainian participants. These connections will yield great prospects in terms of export opportunities for the industry. The trade delegation visited International Ukrainian-Turkish Business Association as well to exchange ideas and learn experiences of Turkish businesspeople who have established successful businesses in Ukraine.
