August 27 2014, 14:10 Source: APK-Inform Views: 1205

Russia considers it necessary to increase economic cooperation with Ukraine – V.Putin

Russia considers it necessary to increase the further economic cooperation with Ukraine, declared Vladimir Putin, President of the Russian Federation, on August 26 in Minsk.

According to him, it would be useful not only to maintain, but also to significantly increase the reporting cooperation.

At the same time, the President believes that it is unlikely to reach such results after ratification of the Association Agreement between Ukraine and the EU.

According to V.Putin, changeover of the Ukrainian economy to the EU standards will cost billions of EUR to the country, and the losses of Russia from the forced changing of the economy in such case can total 100 bln RUR.

Many sectors of the Russian industry will be on the line, including the agro-industrial complex, with all consequences for the rates of economic growth and employment, V.Putin said, adding that Kazakhstan and Belarus, Member States of the Customs Union, will face the similar losses.

Due to imposition of the zero customs duties for imports of the EU commodities to Ukraine, which will influence 98% of the commodity items, there will be observed the substantial growth of the supply of European commodities on the Ukrainian market. So, the less competitive Ukrainian products will be forced on the market of the Customs Union, said the President of the Russian Federation.


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