April 16th, Ricardo Giucci of the German Advisory Group Ukraine presented facts on the topic: “Ukraine between East and West: Perspectives for free trade with both sides”Politicians and mass media from all sides successfully created a wrong image in the public perception during the last month, namely that Ukraine had to face an “either-or” decision between the two trading blocs Customs Union and European Union.
“Technically, this is absolutely wrong, since parallel Free Trade Agreements (FTA) with both trading blocs are not contradictory”, Giucci told the representatives of the German and Ukrainian Business at the Ukrainian Chamber of Commerce and Industry. From the economic point of view, this is even the best option for Ukraine.
The major question is, whether the countries of the Customs Union and in particular Russia will discontinue the existing CIS free trade agreement with Ukraine. “Yet again, there is no technical or juristic reason for doing so”, Giucci stated.
You can find further information on the rentability of a membership in the Customs Union and on how realistic an FTA between CU and EU is in Giucci’s presentation.
Valery Pyatnitskiy of the Ukrainian Ministry of Economic Development and Trade confirmed Giucci’s findings and presented numerous examples for current trade issues with Russia. At the same time, Pyatnitskiy stressed Ukraine’s big interest in a settlement and its diplomatic attempts.
The event was conducted by the Delegation of German Economy in Ukraine in co-operation with the Ukrainian Chamber of Commerce and Industry and the German Advisory Group Ukraine.