UKRAINE INTEGRATES INTO THE GLOBAL ECONOMY
In 2018, Ukraine took several positive steps to increase its economic integration with the global economy and to open up key areas of its economy to foreign investment. One particularly promising example is the energy sector, where Ukraine has begun making strides towards energy independence from Russia. That year included the development of new solar and wind power projects, including those with funding from foreign private equity investors and international financial institutions such as the EBRD.
New support schemes for renewables could come into force as early as next year, which would drive competition and investment in the industry. Trade with the EU has also grown by 60% over the past three years and EU has now become the number one trading partner for Ukraine with a 43% share in the country’s foreign trade turnover.
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