EFTA States and Ukraine Sign Modernised Agreement to Boost Trade and Recovery
On April 8, 2025, Ukraine and the EFTA States – Iceland, Liechtenstein, Norway, and Switzerland – signed a modernized Free Trade Agreement (FTA). This updated agreement aims to support Ukraine’s resilience, recovery, and economic growth, while also deepening economic relations between the EFTA countries and Ukraine across a wide range of sectors.
The Free Trade Agreement was signed by Ukraine’s First Deputy Prime Minister and Minister of Economy, Yuliia Svyrydenko; Norway’s Minister of Trade and Industry, Cecilie Myrseth; Iceland’s Minister of Culture, Innovation, and Higher Education, Logi Einarsson; Ambassador Frank J. Büchel of Liechtenstein; and Ambassador Jacques Gerber, Switzerland’s Special Envoy for the Reconstruction of Ukraine.
Myrseth says that this is an important milestone. The agreement represents a significant contribution to strengthening Ukraine’s political and economic integration with Europe and will help drive the country’s economic development and growth.
Background
The modernised FTA includes new chapters on electronic commerce, small and medium-sized enterprises, and trade and sustainable development, as well as revised provisions on trade in goods, sanitary and phytosanitary measures, trade facilitation, government procurement, cooperation and protection of intellectual property. The agreement has also updated market access for goods and liberalised trade in certain product categories. This will deepen trade relations and provide greater market access for businesses on both sides.
Bilateral EFTA–Ukraine merchandise trade reached almost EUR 1.1 billion in 2024. With an average growth rate over the last five years of 4.9% for imports and 9.3% for exports, the trade surplus in favour of the EFTA States has continued to widen. The main imports to the EFTA States were fats and oils (EUR 37 million), precious stones and metals (EUR 26 million), woven apparel or clothing accessories (EUR 22 million), furniture, mattresses and similar furnishing (EUR 20 million), and beverages and spirits (EUR 20 million). The main exports to Ukraine were fish and crustaceans (EUR 229 million), pharmaceutical products (EUR 143 million), arms and ammunitions (EUR 77 million), vehicles (EUR 77 million), and electrical machinery (EUR 44 million).
Read more here.
Read the Norwegian Government’s full statement here.
