The current decline in trade with the Russian Federation has stimulated businesses to open new markets, in particular EU countries and a whole number of others. Valery Pyatnytsky, Ukraine’s Deputy Minister of Economic Development and Trade and the nation’s trade representative, according to the governmental portal. “Our trade volumes are falling with the Russian Federation and the CIS countries and, remarkably, are increasing with the European Union countries. Moreover, as Russia has unfortunately imposed additional various restrictions in the recent period of time, our access to third markets has started to expand,” he said. Valery Pyatnytsky stressed that exports to the EU countries increased by $1.2 Bl to $11.2 Bl in the six months. “The autonomous preferences will be extended by another 15 months, and Ukrainian businesses will have the possibility to export their products mostly duty-free. Of course, the rules existing in the EU market are to be fulfilled, but in a gradual manner, allowing the country to increase its adaptation to these rules and thereby further reducing obstacles,” he pointed out.
 

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