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Disinfo: The Association Agreement destroyed Ukrainian economy, it became a Western colony

Summary

Almost six years have passed [since the Association Agreement was signed between Ukraine and the EU]. What did this widely advertised agreement give to Ukraine? Judge for yourself. Ukraine has become the poorest country in Europe and one of the poorest in the world. The Ukrainian economy was destroyed. Investments fell to zero. This means that the country has essentially become a colony of the West and has lost its independence.

Disproof

Conspiracy theory. Recurring pro-Kremlin narrative on Ukraine and its relations with the European Union.

In June 2014, the EU and Ukraine signed an Association Agreement, including a Deep and Comprehensive Free Trade Area (DCFTA), which promotes deeper political ties, stronger economic links and the respect for common values. Since 2014, the EU and the Financial Institutions have mobilised more than €15 billion in grants and loans to support the reform process, with strong conditionality on continued progress. See here for more details about EU-Ukraine relations.

Since 2016, there has been a steady increase in the export of more value added products, such as machinery and appliances and transport equipment, while the number of companies exporting to the EU has increased from 11,700 companies in 2015 to more than 14,500 companies in 2019.

The total trade turnout increased to 52.6 bln USD in 2019. During 2015-2019, Ukraine also increased its export to the EU from 13 bln USD to 24 bln USD. Overall in 2019, Ukrainian export to the EU increased by 3.9%. Now, the EU accounts for almost half of Ukrainian export. The EU remains a key trading partner of Ukraine with a share of 40.1%. See here for more details about EU-Ukraine trade relations.

According to the World Bank, foreign direct investment in Ukraine decreased since 2013, with the lowest amount in 2014. However, they have not fallen to zero: 3.4 bln USD in 2016, 2.8 bln USD in 2017 and 2.4 bln USD in 2018.

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publication/media

Komitet spaseniya Ukrainy (Archived)
  • Reported in: Issue 197
  • DATE OF PUBLICATION: 14/05/2020
  • Language/target audience: Russian
  • Country: EU, Ukraine
  • Keywords: Ukraine, economy, Abandoned Ukraine, Economic difficulties, Euromaidan, Ukrainian statehood

Disclaimer

Cases in the EUvsDisinfo database focus on messages in the international information space that are identified as providing a partial, distorted, or false depiction of reality and spread key pro-Kremlin messages. This does not necessarily imply, however, that a given outlet is linked to the Kremlin or editorially pro-Kremlin, or that it has intentionally sought to disinform. EUvsDisinfo publications do not represent an official EU position, as the information and opinions expressed are based on media reporting and analysis of the East Stratcom Task Force.

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