The rate of growth of Ukrainian exports to the EU has began to fall, as the ability of Ukrainian businesses to fully utilize the preferential trade deal with the EU has been exhausted, the Deputy Economic Development and Trade Minister of Ukraine Valeriy Piatnytsky said at a conference entitled "Ukraine's Trade Policy: Vision of Future"
He said that during January-October 2014 the growth of exports to the EU was 12.3 percent, compared to the previous year, while between January-November 2014 the rate was 7.5 percent.
He stated that the internal rules should be changed to boost Ukrainian exports to the EU.
“We won’t be able to use the potential of the agreement with the EU if we don’t change legislation – technical regulation, sanitary, and biosecurity regulation. The markets are open for us, while we cannot fully utilize them,” Piatnytsky said.
As reported, on April 14, 2014, the Council of the European Union approved the decision made by the European Commission on the unilateral reduction of customs duties levied on Ukrainian products exported to the EU. These measures are not aimed at replacing the free trade zone, and are valid for a limited period of time, until Nov. 1, 2015.
This unilateral measure was adopted to provide preferential access to the EU for Ukrainian exporters, as part of concessions gained during negotiations over a free trade zone. Ukraine, in turn, would not increase access for exports from the EU. The decision to reduce duties for Ukrainian good was made part of the EU’s Official Journal on April 22, 2014.
