By Vladimir V. Sytin
The Ukrainian Times
Establishing a free trade area with the European Union, Ukraine has been deprived of preferences in terms of trade with Russia. According to Alexander Okhrimenko, president of the Ukrainian Analytical Center, without the free trade area with the Russian Federation, Ukraine’s machine-building and chemical industries will suffer heavily.
Mr. Okhrimenko forecast that such enterprises as Motor Sich (UX: MSICH), Turboatom and Aviant would go belly up this year. “YuzhMash is virtually standing idle,” he added.
Alexei Pushkov, member of the State Duma (Russia’s parliament) said losses of Ukraine may well amount to $30-40 billion. In particular, a cut in the export of Ukrainian goods to the Eurasian Customs Union is estimated at $15 billion.
It is clear that the enslaving Association Agreement is more advantageous to the EU with its double standards than Ukraine. Under the EU imposed document, European goods get free access to the Ukrainian market.
Many analysts think that the EU needs this country as a trade appendage to the West. By modest computation, losses of the state budget will account for 10% of Ukraine’s GDP after the establishment of the so-called free trade area with the EU.
Critics agree that acceding to the EU Association Agreement is like getting a job as a galley slave. You get chained to the oar and row until you drop dead. The doleful first line of the Ukrainian national anthem “Ukraine has not yet died” is a sadly appropriate lyric for the latest developments in this country mismanaged by the American puppet government.
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