Ukraine Needs to Negotiate with the EU to Replace Imports from Asia with Own Products

Wednesday, July 8, 2021
Ukraine Needs to Negotiate with the EU to Replace Imports from Asia with Own Products

Ukraine should offer the EU ways to reduce dependence on imports from Asian countries, replacing such supplies with Ukrainian products, said Dmitry Kisilevsky

Ukraine entered the process of negotiations on revising certain provisions of the Association Agreement with the EU and this may become a good opportunity to offer new formats of economic cooperation to European partners, the deputy believes.

“The EU annually imports high-tech goods worth €120 billion. Ukraine in this import is only 0,2%. There are goods that Ukraine is capable of producing, but the EU has a need for them. This is mechanical engineering, including the automotive industry, electrical equipment, metallurgical products, polymeric materials, and military products. And it is obvious that this is a clear subject for dialogue with the EU,” said Kisilevsky, deputy head of the governmental Committee on economic development.

He drew attention to the fact that the arguments of the Ukrainian side can be a favorable geographic location and the existence of a valid association agreement and a free trade zone with the EU.

“We need to start negotiations right now.  Why do you need to import goods from China, India or Southeast Asia, if you understand that the pandemic continues, the disruption of supply chains, political risks. There is a country with which there is an association agreement and it has a common border with you. It would be much wiser to have these industries close by than to carry goods across half the world,” the deputy explained.

In his opinion, the subject of such negotiations may be a number of proposals for mutually beneficial cooperation between the parties, in particular, "providing Ukraine with better terms of supply to the EU than for those countries, the dependence on imports from which the EU wants to reduce. We can talk about financing through credit programs or funds for the development of relevant industries, the creation of joint ventures, etc."

You will be interested