Despite Ukraine’s exports have fallen sharply this year because of economic recession, the proportion going to the EU has jumped from below 25 per cent in 2012 to almost 35 per cent in the first seven months of this year. Trade with China has risen from about 5 per cent to 8 per cent in the same period. Trade with Russia halved year-on-year in the first nine months of this year — and things could get worse.
Moscow has threatened to raise tariffs and eliminate all trade preferences if the EU-Ukraine free trade deal goes fully into effect as planned in January. Though Ukraine’s economy is expected to contract by 9 per cent this year, there are signs the trend has bottomed out, with confirmation this month that third-quarter output increased 0.7 per cent from the previous quarter. Read more at http://www.ft.com
Moscow has threatened to raise tariffs and eliminate all trade preferences if the EU-Ukraine free trade deal goes fully into effect as planned in January. Though Ukraine’s economy is expected to contract by 9 per cent this year, there are signs the trend has bottomed out, with confirmation this month that third-quarter output increased 0.7 per cent from the previous quarter. Read more at http://www.ft.com
