KIEV, May 4 (Xinhua) -- Ukraine and the United Kingdom have signed an agreement on the abolition of import duties and tariff quotas, the Ukrinform news agency said on Wednesday, citing the Ukrainian Economy Ministry.

"Ukraine and the UK have legally enshrined the abolition of import duties and tariff quotas in bilateral trade by signing an agreement," the ministry said.

The preferential trade agreement, which will be in place for 12 months, is set to boost the exports of high value-added goods from Ukraine, including flour, grain, dairy products, poultry, tomato paste, honey, corn, wheat, juices, mushrooms and sugar.

Last month, the European Union decided to abolish tariffs and quotas on Ukrainian industrial goods and foods.