Ukrainian economy not to feel the negative impact from the situation in China — Minister of Economic




The Ukrainian economy will not feel any negative impact from the current situation in China, where several thousands of people already fell ill, due to the outbreak of a new coronavirus, declared the Minister of Economic Development, Trade and Agriculture of Ukraine, Tymofiy Mylovanov.

According to the Minister, the tourism industry usually should face the first direct effect of the emergency situation, but in Ukraine the tourism forms 2% only of the GDP, while the average figures in other countries total 5-10% of the GDP.

Also, he does not expect for any negative impact on the sales turnover between Ukraine and China, which is one of the largest trading partners of Ukraine. To date, the Ministry does not forecast any negative impact on commodities trading. In fact, the officials took the opportunity and removed several trade barriers for the exports from China, but it was not related to the coronavirus. Therefore, the Ukrainian authorities continued generally increasing the trading relations with China. It is quite good for the economy, added T.Mylovanov.