Government presented draft law on farmland market

The Government of Ukraine has released a draft law "On Amendments to Some Legislative Acts of Ukraine Regarding the Turnover of Agricultural Land", which will regulate the farmland market in Ukraine, АgroРolit.com reports.

"The Draft Law has been developed to form a legislative field for the introduction of agricultural land market turnover, ensuring the constitutional rights of Ukrainian citizens to freely dispose of their property, creating transparent conditions for the acquisition of agricultural land by citizens and legal entities of Ukraine," the explanatory note reads.

The provisions of the draft law define the specific features of farmland turnover legal regulation on the basis of market mechanisms for the transfer of rights to land plots.

The draft law is published on the Ministry of Economic Development and Trade of Ukraine website.

Previously reported that the Ukrainian farmland is at least 3.1x cheaper than the European one if the lowest current level of the average cost per hectare in the EU and Ukraine is compared.