Bulgaria, Hungary and Romania have become key European trading partners of Ukraine in agricultural products, while France left the list, Deputy Director of the Ukrainian Institute of Agrarian Economics, Nikolai Pugachev, said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 13th October, 2022) Bulgaria, Hungary and Romania have become key European trading partners of Ukraine in agricultural products, while France left the list, Deputy Director of the Ukrainian Institute of Agrarian Economics, Nikolai Pugachev, said on Thursday.
"This year, the indicators of Ukraine's foreign trade in agricultural products due to the war as a whole lag behind the level of 2021. A distinctive feature of 2022 was the noticeable changes in the list of key European partners. Three countries were added to it - Romania, Bulgaria and Hungary, but France exited," Pugachev said, as quoted by the institute.
Pugachev noted that such shifts are explained by the change in Ukraine's priorities and the relative security of logistics amid hostilities in the country and the situation with ports. The official also recalled that since June 4, the European Union suspended all duties and fees for any products coming from Ukraine for a year, which significantly facilitated access to the European market.
"The turnover of agricultural products trade between Ukraine and the EU in January-August 2022 amounted to $9.2 billion. The main trading partners in the segment of agricultural products for Ukraine are Poland, Romania, the Netherlands, Spain, Italy, Germany, Bulgaria and Hungary," Pugachev added.
Global food and energy crises accelerated due to disruptions in supply chains caused by Russia's special operation and subsequent comprehensive Western sanctions. Russia and Ukraine account for almost a third of the world's wheat and barley production and half of its sunflower oil. On July 22, Russia, Ukraine, and Turkey signed an UN-brokered initiative to provide a humanitarian maritime corridor for ships with food and fertilizer exports from Black Sea ports. Three key Ukrainian ports Odesa, Chornomorsk, and Yuzhne were unblocked to resume exports, and Istanbul-based Joint Coordination Center was set up to monitor the implementation of the initiative, including ensuring that cargo ships do not carry unauthorized goods or personnel.
