The EU became the main trading partner of Ukraine

Within ten months of the year 2016 the trade turnover between Ukraine and the European Union (EU) increased by six percent and at the moment he is 41% of the total product. This was announced by Vice Prime Minister for European and Euro-Atlantic integration of Ukraine Ivanna klympush-Tsintsadze.

“In 10 months of 2016 on bilateral trade between Ukraine and the EU increased by 6%”, – submillime-Tsintsadze.

She also noted that because of the conflict with Russia and its aggressive actions against the transit of Ukrainian goods, Ukraine has lost Russian markets.

“For us, traditional markets in Central Asia, but we lost the Russian market. However, we can say that during this time the volume of trade between Ukraine and the EU came in first place, and now represent 41% of the volume. Therefore, we can definitely understand that it is our main trading partner … We have to understand that it is not only the open market with 500 million consumers of the EU countries, but also additional features of outputs to third markets, ” added klympush-Tsintsadze.

Recall that “free trade” between Ukraine and the EU is fully operational from 1 January 2016. Until then, Ukraine was using preferentsijami and abolished duties on European goods, while the exported goods to the EU without duties. Now in the structure of Ukrainian exports 37% occupied European countries. For the duration of the FTA managed to increase exports of poultry, egg poultry, wheat, barley, oilseeds, canola oil, sugar, confectionery.

But despite the fears of the Ukrainian producers, the dominance of cheap imports in Ukraine and not, as the European market continued to protect themselves by quotas, which are quickly exhausted. After the exhaustion of the quota trade with the EU can continue, but the cost of production will then increase because exporters have to compensate toll.