THE BUSINESS OF INTERNATIONAL TRADE
THE BUSINESS OF INTERNATIONAL TRADE
Last week, on December 3, representatives from the UK and North Macedonia signed a new Partnership, Trade and Cooperation Agreement designed to strengthen economic links between the two countries.
In 2019, trade between the UK and North Macedonia was worth £1.8 billion, with major UK exports including non-ferrous metals (£1.1 billion), inorganic chemicals (£77 million) and textiles (£4 million). Major UK imports from North Macedonia included metal ores and scrap (£49 million), clothing (£16 million) and furniture (£13 million).
The agreement was signed by HM Ambassador to North Macedonia, Rachel Galloway, and Minister of Foreign Affairs, Bujar Osmani.
Discussing the signing, Galloway said that "Following North Macedonia’s accession to NATO, this Agreement is another positive step in strengthening UK-North Macedonia relations. North Macedonia offers great opportunities for UK companies and investors across a variety of industries and the signing of the Agreement marks a new era of increased investment in both our economies. The UK remains committed to North Macedonia’s Euro-Atlantic path and we will continue to stand together as NATO Allies."
The UK's International Trade Minister, Ranil Jayawardena, added that "Today’s agreement gives certainty for business in both countries and demonstrates our commitment to building on our strong trade ties with North Macedonia and the Western Balkans region."
More details on the UK's trading relationship with North Macedonia can be found at www.gov.uk/government/news/north-macedonia-and-uk-sign-partnership-trade-and-cooperation-agreement.
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