The Ukraine is a nation with an iconic past and a bright future. After gaining its independence in 1991, the nation has had to focus on developing its economy, and foreign trade has been one of the keys to unlocking the nation’s prosperity. As Kiev increased its trade and contacts around the region, the most significant result was that the nation had the chance to form new relationships and access valuable resources which were not available prior to Ukraine’s independence.
In terms of trade, Ukraine’s exports to the EU grew from $19.7 billion in 2010 to $44.2 billion in 2019. This is largely due to the strong trade ties between Ukraine and the European Union, including free trade agreements, economic integration through the EU-Ukraine Association Agreement, and most recently the Deep and Comprehensive Free Trade Area (DCFTA), which binds the two parties into a closer trading relationship. This has resulted in the increased availability of resources for Ukraine, such as iron and steel, ores, agricultural products, and fish, which have all contributed to the nation’s economy.
Ukraine has also experienced an increase in access to global markets. As a result of increased bilateral trade, the nation has increased its presence in the global market. Through greater access to international resources, Ukraine has strengthened its ties with other nations in the region and around the world, enhancing its global presence and improving its economy.
The significant result of the increased trade and contacts around the region for Ukraine, as mentioned above, is the chance to form new relationships and access valuable resources. This has manifested itself in the development of Ukrainian exports, the increased presence of Ukrainian companies in international markets, and the country’s overall economic growth. The improved access to resources has also resulted in an increase in jobs, which has helped to reduce poverty in the nation.
In conclusion, the increased trade and contacts with the region have enabled Ukraine to access resources that were not available prior to independence, increasing its presence in global markets, leading to an increase in jobs, and helping to reduce poverty. All of these results are highly significant and demonstrate the importance of Ukraine’s increased focus on trade with the region.