Yatsenyuk: Ukraine’s economy just 12% dependent on Russia

Ukrainian economy will develop by European standards, as provided by the accords with the EU, particularly the Agreement on a Free Trade Zone with the EU, Ukrainian Prime Minister Arseniy Yatsenyuk said Friday during a joint press conference with German Chancellor Angela Merkel in Berlin.

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"The agreement on free trade zone with the EU will come into force. Russia, like any other country, has no veto on our bilateral relations with the EU. The Agreement [on FTZ – UNIAN] is aimed at developing relations between Ukraine and the EU, and is not relevant to relations with Russia,” said Yatsenyuk. “We have a multilateral agreement on a free trade zone between Ukraine and the CIS, which Russia has not been fulfilling. Finally, we have held four rounds of consultations - political and technical - on the implementation of the Agreement on a free trade area with the EU, but we have not seen from the Russians any substantive discussion on what frightens their economy so much. And finally: Russia has begun to reduce the mutual trade with Ukraine ten years ago. Before we were completely dependent on the Russian market, and now our dependence is at 12%. Therefore, let Russia determine, by it is willing to develop its economy. We have determined: the Ukrainian economy will meet the European standards."

Earlier, the Prime Minister noted that Ukraine will become part of the European Economic Area, with the implementation of the Agreement on a free trade area, despite opposition from other countries and political forces.

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