International
22:46 12 May 2022
Post by: WBJ

Russia's war with Ukraine has led to a change in business conditions

Russia's war with Ukraine has led to a change in business conditions
Dariusz Szymczycha, source: Newseria

Last year, Poland became Ukraine's second largest economic partner. Russia's aggression against the country put an end to established cooperation procedures and halted the ability of Polish companies working with Ukrainian businesses to receive remuneration for supplies and services. Major trade routes through Black Sea ports were blocked. 80 percent of Ukrainian companies were affected.

"For Ukrainian exports, the Polish market meant a lot. Before the Russian aggression on the areas of eastern Ukraine and the occupation of Crimea, the level of our trade turnover was about $8 billion, this was 2014. To rebuild this level, we had to work for four years, then it grew all the time. This is excellent work, mainly small and medium-sized entrepreneurs from Poland and Ukraine, work of several important Polish investors in the Ukrainian market, very organic work. Unfortunately, the war, I won't say that it will completely destroy these relations, but it will certainly make them more difficult and the volume will be lower," Dariusz Szymczycha, vice president of the Polish-Ukrainian Chamber of Commerce, said. 

According to the Statistical Service of Ukraine, in 2021 Poland was the second trade partner of Ukraine – only China was ahead of us, with the total value of exports and imports higher than Polish only by 86 percent. We were followed by Russia, Germany and Turkey, Belarus, Italy, the United States and India. In addition, Poland and China are the only two countries whose trade with Ukraine exceeded the equivalent of $10 billion.

(Newseria


poland
ukraine
russia
dariusz szymczycha
polish-ukrainian chamber of commerce

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