In the European Union appreciated the dynamics of trade with Ukraine

В Евросоюзе оценили динамику торговли с Украиной

Trade of Ukraine with the EU continues to grow

Last year trade between Ukraine and Evrosousom increased by 9%. The trade turnover between Ukraine and the EU reached 40 billion euros.

Last year the trade volume between the EU and Ukraine increased by 9% and reached 40 billion euros. This is stated in the report of the European Commission on the implementation of 35 major trade agreements signed by the EU with 62 partner countries, writes Yevropravda, on Wednesday, October 16.

“Bilateral trade turnover in 2018 reached 40 billion euros, 9% more compared with the 2017 year. The EU maintains a positive trade balance in the amount of 4 billion euros,” – said in the report.

It is noted that in the past year, Ukraine has made progress in the implementation of the agreement on free trade zone with the EU in some sectors. The EU welcomes in particular the new law on public procurement.

Positive dynamics is also present in the reform of governance and standards to EU norms, work continues on the adaptation of sanitary and phytosanitary regulations, customs cooperation and trade facilitation.

At the same time, the European Commission said that Ukraine needs to strengthen the protection of intellectual property rights and adopt legislation that meets international standards.

You also need to adapt to the European rules of state aid.

“The EU continues to monitor and discuss with Ukraine a number of other trade irritants, for example, a new law on value added tax adopted by Ukraine to 2018, which prohibits the reimbursement of value added tax when exporting canola and soya,” the report says.

According to GFS, the volume of foreign trade of Ukraine in 2018 amounted 104,188 billion, which is 12% more than in 2017. The negative balance of foreign trade in 2018 to 9.5 billion dollars.

According to the Ministry, last year the volume of trade of Ukraine with the EU countries amounted to 44,446 billion, which is 12% higher than a year earlier (39,569 billion dollars).

 

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