Ukrainian President Volodymyr Zelensky announced that the idea of creating a free trade zone between Ukraine and the United States of America has received support from American leader Donald Trump.
This is reported by Kyiv24
Trump’s Support and Ukrainian Business Expectations
During a conversation with journalists, Zelensky noted that the issue of establishing a free trade zone has already been discussed with the American side. He emphasized that such an initiative could be a positive solution for Ukrainian businesses, although specific details have not yet been disclosed. The U.S. President confirmed that Ukraine will receive this opportunity, and the Ukrainian side expressed gratitude for such a proposal.
“President Trump supports this idea. I think it will be a positive decision for our business. We will look at the details later, of course, but we are grateful for such a proposal. Trump once again confirmed that Ukraine will receive it,” he told reporters.
Potential Benefits and Trade Statistics
Details regarding the establishment of a duty-free zone for Ukraine remain unknown at this time. The day before, U.S. Special Envoy Steve Witkoff, during the Ukrainian breakfast in Davos at the World Economic Forum, reported that Donald Trump discussed a duty-free trade zone for Ukraine. According to him, this could be a factor that influences the mass relocation of industry to the region, providing Ukraine with an important competitive advantage in the American market.
On January 22, a meeting took place in Davos between Volodymyr Zelensky and Donald Trump. The Ukrainian president characterized the dialogue as “possibly challenging, but positive” and noted that among the key topics of discussion was the strengthening of assistance to Ukraine to enhance its defense capabilities against Russian shelling.
According to the U.S. Department of Commerce, from January to October 2023, Ukrainian exports to the U.S. amounted to $1.131 billion. The main export positions included cast iron and steel, metal products, electrical machinery and sound equipment, as well as food products and oils. By the end of 2024, trade turnover between Ukraine and the U.S. reached $2.91 billion. However, Ukraine has a negative trade balance with the U.S.: imports of Ukrainian goods ($1.23 billion) fall short of the volume of exports from the U.S. ($1.68 billion).