News
20.12.2012
Strategic trading partners for Ukrainian agribusiness are Customs Union, and the EU
Ukraine actively trades agricultural and food products with the countries of the European Union, as well as with the members of the Customs Union. During eleven months of 2012 Ukraine exported to these countries agricultural products worth about 9 billion U.S. dollars, which is 58% of the total exports of these products in 2012.
Exports of agricultural products from Ukraine to the European Union are growing rapidly these years. According to the results of 2011, export of these products to the EU in monetary terms increased by 65% compared with 2010. In 2012, export for 11 months is 82% greater than the annual rate in 2011. The main share of exports to the EU belongs to grains and oilseeds and their products.
Foreign agricultural trade with the countries of the Customs Union is also growing - export for 11 months in 2012 is 28% greater than the annual rate in 2011. The basis of exports to the Customs Union is confectionery products and cheese.
Also positive is the balance of foreign agricultural trade: with the EU it is 1.9 billion U.S. dollars, with the countries of the Customs Union it is 2.5 billion U.S. dollars.
"Analysis of foreign trade confirms that for Ukrainian agribusiness strategic trading partners are Customs Union, and the EU. Moreover, we export to these associations completely different products which do not compete with each other. Closing one of the areas of trade in favor of another one can lead to the glut in the domestic market and reduction of production. Therefore, today it is very important for Ukraine to have a balanced trade policy towards the EU and the Customs Union, because hasty decisions not aligned with the business environment, can lead to significant problems in the trade balance, " says the President of UCAB Alex Lissitsa.
