15:25 29.06.2017

Ukraine loses $1 bln in exports because of trade war with Russia – Mykolska

1 min read
Ukraine loses $1 bln in exports because of trade war with Russia – Mykolska

As a result of trade aggression by Russian in 2016 Ukraine lost $1 billion worth of exports, Deputy Minister of Economic Development and Trade, Ukraine's Trade Representative Natalia Mykolska has said.

"We talked a lot about aggression, but we did not speak about Russia's economic aggression. We must not forget that only in exports last year, according to our estimates, we lost $1 billion worth of exports because of Russia's aggression, that is, some 20% of Ukraine's industrial production," she said on Thursday in Kyiv.

According to Mykolska, segments of Ukraine's industrial production can not grow at a fast rate because of the losses.

"In order to export, it is necessary to produce," the deputy minister said, noting an increase in Ukraine's exports to European Union member states.

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