London says Ukraine will be guaranteed access to British financial services as it seeks to rebuild its shattered economy following the signing of a ground-breaking new deal.

Trade Secretary Kemi Badenoch and Ukraine’s first deputy prime minister Yulia Svyrydenko will sign the digital trade agreement in London on Wednesday.

Officials said the deal would support digital commerce by facilitating cross-border data flows based on a similar agreement between Britain and Singapore earlier this year.

“The landmark digital trade deal agreed today between our two countries paves the way for a new era of modern trade between us,” stated Ms Badenoch. “This agreement will mean our businesses and governments can collaborate even more and ensure Ukrainians have access to essential goods and services digital trade opens up.”

She added, “This will help protect jobs, livelihoods and families now and in Ukraine’s post-war future.”

It follows an approach by the government in Kyiv over the summer to see if such an agreement would be possible.

Digital trade is considered particularly important in the current conflict with Russia, where the fighting and the damage to infrastructure make physical trade more difficult.

The agreement also allows for greater cooperation between Britain and Ukraine on cybersecurity and emerging technologies.

(dpa/NAN)