The COVID-19 pandemic has exposed both the strength and fragility of international trade links. Like other countries, Ukraine has appeared at the crossroad of two trends. On the one hand, in response to panic, Ukraine had imposed several protective measures.
More than five years after its adoption, Ukraine’s wood export moratorium was found incompatible with the Association Agreement (AA) and not justified under the GATT 1994. Ukraine’s arguments were weak to prove that conservation of forests was the moratorium’s primary goal.
Ukrainian exporting and importing businesses have recently got the much-awaited opportunity to register as Authorized Economic Operators (AEOs). This status will make them trusted companies in the country’s Customs Office’s eyes and considerably facilitate their cross-border trade.
The fifth annual survey of Ukrainian exporters and importers1 marks growing optimism among companies regarding the already achieved AA impact, while their future assessments are marred by uncertainty.
Oman started 2020 off on the right foot when it comes to economic freedom. A new Foreign Capital Investment Law (FCIL) came into force to visibly lower barriers to foreign investment in the Sultanate. The crucial change is that 100% foreign ownership is now possible in Oman.
Ukraine’s dependence on the market for exports to Russia has been declining drastically since 2011. Until then Ukraine’s exports to Russia, the EU, and the rest of the world had been following similar paths.
Soon Ukraine might finally expand the list of products protected by the geographical indications (GIs). The AA/DCFTA includes more than three thousand GIs from the EU,1 with only two Ukrainian GIs, wines Soniachna Dolyna and Novyj Svit.
Ukraine has been going through ambitious structural reforms aimed to strengthen its democratic institutions and human rights protection, impose rule of law, and develop modern market-oriented economy. Customs reform is among key reforms in Ukrainian policy agenda in 2019.
According to the Ukrstat, Ukraine exported USD 20.2 bn to the EU, surpassing the previous peak registered in 2008, i.e. before the hardships of two economic crises and the occupation of the part of Ukraine’s territory.