REUTERS
Europe is now a key market for Ukrainian exports, the official says.
Ukraine's Deputy Minister of Economic Development, Trade and Agriculture, Trade Envoy Taras Kachka says trade between Ukraine and the European Union in January-November 2019 was estimated at US$42 billion, which accounted for 41.5% of the country's total trade turnover.
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"The European market is now a key one for Ukrainian exports. The number of Ukrainian exporters who supply their products to the EU is growing. Today, [the share of] trade with the EU countries is 41.5% in Ukraine's total trade turnover. In January-November 2019, Ukraine-EU trade stood at US$42 billion," the ministry's press service quoted Kachka as saying on January 29.
During the sixth meeting of the Ukraine-EU Association Council on January 28, the Ukrainian side initiated a discussion on revising the provisions of the Association Agreement since the Ukraine-EU current level of tariff liberalization does not correspond to the real volume of trade. However, new challenges in the field of e-commerce, investment and trade in services need expanding the contractual base.
In addition, the Ukrainian side proposed extending the scope of the domestic market regime in financial, telecommunications, postal, and courier services, which requires updating Annex XVII to the Association Agreement.
As UNIAN reported earlier, trade between Ukraine and the European Union in the first quarter of 2019 grew by 6% year-over-year, to US$11.149 billion.