News & Analysis

Ukraine-EU trade up 40 per cent

Ukrainian President Petro Poroshenko has said that trade between Ukraine and the European Union has grown by 40 per cent in the three years since the two entities have been part of a Deep and Comprehensive Free Trade Area.

“The EU’s share of Ukrainian exports has reached a historic maximum of 42.5 per cent,” said Mr Poroshenko. “The structure of Ukrainian exports has shifted significantly towards value added products, which now account for 43 per cent of exports to the EU.”

“Our next priorities in the development of trade with the EU are strengthened customs cooperation, the conclusion of an agreement on conformity assessment and acceptance of industrial products, as well the adaptation of legislation in the field of sanitary and biosecurity measures,” the president added.

Ukraine’s primary exports to the EU are iron and steel, as well as grain, unprocessed tobacco, seeds and animal feed.

The EU-Ukrainian Association Agreement, which created a free trade zone between Kyiv and Brussels, was signed in 2014 and entered into force in 2016.