UKRAINE: ‘ Taps into the European Trade Market to Mitigate Financial Losses on Russian Markets ‘
#AceFinanceNews – UKRAINE (Kiev) – October 2 – Ukraine will compensate almost fully for its financial losses on Russian market thanks to growing trade with Europe, acting Ukrainian Minister of Economic Development and Trade Anatoly Maksyuta told reporters on Thursday Tass reported.
“I will open a secret which has not been made public yet. Our analysts have conducted a survey and have found that as for monetary flows we will make up seriously for losses on Russian market thanks to achievements on that in Europe. Almost fully,” he said.
Trade structure that Kiev had with Russia and the structure Kiev currently has with the European Union are different, Maksyuta added.
“I do not say that we started exporting to Europe the things we used to export to Russia,” he said. Maksyuta said that Ukraine used to deliver ultimate products to Russia, but now several companies have increased their export of component parts for car manufacturers in the EU.