The Economy of Ukraine
Turning Towards Europe
An EU trade agreement from 2016 and candidate status from 2022 have tied Ukraine more closely to Europe.
A shift in economic orientation.
Association Agreement
Signed in 2014, it created a deep free trade area with the EU.
Trade share
The EU became Ukraine’s largest trade partner.
Candidate status
Ukraine received EU candidate status in June 2022.
Conditions
Membership requires rule of law, competition and institutional reforms.
A trade switch
Ukrainian farmers ship more produce to EU markets instead of Russia.
Assuming accession is quick
It requires many reforms.
Key takeaways
- A deep trade deal was signed.
- The EU is the top partner.
- Candidate status came in 2022.
- Reforms are required.
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