Ukraine to assess effectiveness of DCFTA with EU in 2018
Ukraine will conduct the assessment of effectiveness of the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union (EU) in 2018, Deputy Economic Development and Trade Minister, Trade Representative of Ukraine Natalia Mykolska has said.
"We have a dialogue with the European Union on the need to assess the actual effect of the DCFTA with the European Union, which in future will become the basis for negotiations and consultations. In its turn, next year Ukraine plans an assessment of the agreement, regardless of the position of the European Union," she said at a press conference in Kyiv on Thursday.
Answering journalists' questions, she also said that the ministry does not consider the deficit of the balance of foreign trade of the country to be critical.
"We do not see the critical situation. We are talking about increasing investment in Ukraine. With increasing investment processes, imports are growing due to imports of equipment and raw materials for the further production of goods in Ukraine," she said.
Another reason for the growth of import indicators, which was mentioned by the trade representative, is an increase in global prices.
"In terms of money imports are growing more than in kind, which indicates an increase in the global price environment for the goods that we import. Our exports benefit from this, but imports also lose," Mykolska said.