Exports of goods to Russia decreased about fourfold over past six years – Kubiv

The market share of the Russian Federation in the structure of Ukrainian exports decreased from 23.7% in 2013 to 6.4% in 2019.

First Vice Prime Minister - Minister of Economic Development and Trade of Ukraine Stepan Kubiv said this at a government meeting on Wednesday, an Ukrinform correspondent reports.

"In 2013, 23.7% of exports accounted for the Russian Federation. We reoriented our exports, and now the EU’s share in the exports of goods is 42%, while the share of Russia is 6.4%. It continues to decrease," he said.

According to him, almost 30% of exports go to Asian markets. The African market is also open, and there are plans to expand exports to the Latin American market. “We held meetings, and we have clear plans for further development,” Kubiv noted.

In parallel with export development, the country's business climate is improving.

"Over the past three years, the Government held eight deregulation meetings and abolished nearly 1,300 obsolete, ineffective or illegal regulations," Kubiv added.

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