Both the Customs Union and the FTA with the European Union have undeniable advantages to Ukraine, which lead to the economy growth, economic development and trade minister of Ukraine Ihor Prasolov said in interview with the Uriadovyi Kurier governmental newspaper.
"Both of these integration associations have their undeniable advantages that lead to economic growth and, therefore, the welfare of our people. After all, it is the number one priority for the government," he said.
According to Prasolov, the creation of free trade area with the European Union will be a powerful tool for changes in the country, especially in the economy. It will accelerate the implementation of internal reforms aimed at achieving EU norms and standards in various fields.
"The CIS is the most important area of trade and economic cooperation. The main thing is that Ukrainian products should come to the CIS markets with high added value. These are our traditional markets, and our task is to deepen and extend them. Let me remind you that Ukraine actually initiated the creation of new free trade area among the CIS member states. The area is established and it is developing now," the minister said.
"To sum up, it is enough to compare the foreign trade turnover of Ukraine. It reached 63.1 billion U.S. dollars with the countries of the Customs Union in 2012, and 51 billion U.S. dollars with the EU countries. So do yourself a conclusion which of the unions is closer to Ukraine," Prasolov concluded.
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