Vital issues related to bilateral cooperation between Ukraine and the European Union in trade and economic spheres, the current economic situation in Ukraine, preparations for the 23rd Ukraine-EU summit, which will take place in October this year. These were cross-cutting lines during the Ukraine-EU bilateral consultations with the participation of the First Deputy Prime Minister of Ukraine - Minister of Economy of Ukraine Oleksiy Lyubchenko and the Executive Vice-President of the European Commission Valdis Dombrovskis August 25 in Kyiv.
The meeting was also attended by Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Olha Stefanishyna, Head of the EU Delegation to Ukraine Matti Maasikas, Acting Director-General of the European Commission's Directorate-General for Trade Leon Delvaux, Deputy Minister of Economy of Ukraine - Trade Representative of Ukraine Taras Kachka.
"Over these 5 years of the Association Agreement, the European Union has become Ukraine's largest trading partner with a share of trade in goods of 40.2% of Ukraine's total foreign trade. According to the results of the first half of 2021, the volume of foreign trade in goods compared to the corresponding period of 2020 increased by 34.1%, of which: exports by - 43.9% and imports by - 26.3%. The renewal of the Association Agreement should give a new impetus to a qualitative change in the structure of trade and increase the share of value-added goods," Oleksiy Lyubchenko stressed during the meeting.
In his turn, Executive Vice-President of the European Commission Valdis Dombrovskis stressed the importance for the EU of deepening cooperation in economic issues and developing trade relations with Ukraine.
Also during the meeting, Oleksiy Lyubchenko informed the attendees about the current economic situation in Ukraine: "In the first half of 2021, GDP increased by 1.7%. Our goal is GDP growth of 4%. Ukraine has significant potential for business and domestic market development; advantageous geographical position at the intersection of the main transport corridors, relatively inexpensive and at the same time skilled labor; great scientific potential and developed infrastructure ".