You're reading: Jump in trade between Ukraine and Turkey expected this year

Bilateral trade between Ukraine and Turkey, which fell due to global economic crisis, could be revived this year, according to Ukrainian Vice Premier Sergiy Tigipko.

At a meeting with Turkish Ambassador to Ukraine Ahmet Bulent Meric, Tigipko said that last year, trade between the two countries plunged by 53%, although in January-May considerable growth was seen, Tigipko’s press service reported.

"Turkey is an important trade partner for Ukraine, being second in terms of exports. The rapid development of Ukrainian-Turkish cooperation is evidence of the great potential for the bilateral partnership between our countries," he said.

Tigipko, who is the co-chairman of the intergovernmental Ukrainian-Turkish commission for trade and economic cooperation, said he supported the idea of organizing a Ukrainian-Turkish business forum and said he would personally promote its organization.

The vice premier said he was convinced that a great deal of progress in the talks between the two countries on a visa free regime and the creation of a free trade zone would be achieved by late 2010.