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Russia’s import from Ukraine lowers Jan-May 2014 - customs service

July 05, 2014, 10:59 UTC+3 MOSCOW
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MOSCOW, July 05. /ITAR-TASS/. Russia’s import from Ukraine has lowered during first five months of the current year by 21.6% to $4.959 billion against $6.321 billion a year earlier, Russia’s Federal Customs Service reports.

Export from Russia during the first five months made $10.766 billion (year-on-year growth of 28.6%). The turnover grew by seven percent to $15.725 billion.

The trade balance between the two countries grew to $5.807 billion against $2.052 a year earlier.

On June 27, Ukraine and the European Union signed at a summit in Brussels the economic part of the association agreement. Experts point to problems, which may arise from the association terms.

Vladimir Salamatov of the Russian Chamber of Commerce and Industry says about a quick adoption by Ukrainian enterprises of the EU technical requirements (standards) and about the expiration of the current system, which is very close to those in Russia and the CIS countries. “This means, very soon the products made under the current standards would not be exported to the EU, and the most probable market for them will be in Russia,” he said.

Thus, in order to protect the domestic market, Russia will have to return to the Most Favoured Nation (MFN) regime in trade with Ukraine, he said. This would be only a part of the measures. A major growth of import will cause use of non-tariff protection instruments.

The aggregated effect from tariff-based and non-tariff measures may lower in 2014 the Ukrainian export to Russia to eight billion dollars - the duties to be paid as Russia returns to MFN, the expert says.

Next week in Brussels will take place a tripartite ministerial meeting, devoted to implementation of Kiev’s association agreement. The meeting will feature Russia’s Minister of Economic Development Aleksey Ulyukayev, Ukraine’s Minister of Economics Pavel Sheremeta and the EU's Trade Commissioner Karel De Gucht.

The Russian side says in the current regime of free trade with Ukraine as the Ukrainian market opens for the EU, the Russian market will be filled by re-exported goods from Europe, thus making conditions for Russian producers much worse.

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