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Slump in Ukraine’s trade with EU spells failure of euro-integration policy — NGO leader

June 03, 2015, 17:54 UTC+3 KIEV
"It is noteworthy that Ukraine’s export to the EU countries has plummeted by more than a third - 34.4%," Viktor Medvedchyuk said
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© EPA/BORIS ROESSLER

KIEV, June 3. /TASS/. Ukraine’s National Bank has published preliminary foreign trade statistics for January-April 2015 to draw extremely pessimistic comments from Viktor Medvedchyuk, the leader of the non-governmental organization Ukrainian Choice.

The slump in export is really stunning, Medvedchyuk says in an article published on the organization’s website. In just four months the export was down by 34.5% (against January-April 2014) to 3.2 billion dollars.

"It is noteworthy that Ukraine’s export to the EU countries has plummeted by more than a third - 34.4% This can testify only to the utter failure of the policy of euro-integration. Repeated warnings by impartial politicians and experts have come true: nobody is eager to welcome Ukraine with its goods," he says.

The dramatic fall in export to Russia - by a factor of 2.5 in contrast to January-April 2014 - was an inevitable consequence of the Ukrainian authorities’ policies.

The structure of Ukrainian export has changed accordingly: the share of engineering products was down by half, of mineral products (including ore) by a factor of 2.7, of metal products, by 40%, and of foods, by 22.5%

"The general prospects and trends of Ukraine’s export potential look not glittering at all. In April 2015 export fell by 39.1% against the March level. In other words, the decline has been picking up pace. And this means fewer contracts with Ukrainian manufacturers, mass dismissals, long unpaid leaves and poverty of the families of workers and engineers."

Medvedchyuk urged an impartial look at the economic realities and adjustments to the country’s foreign policy.

The export decline rate as it is, it may be down to zero by the end of the year," he said.

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