In Focus (#06 June 2019)

Political Guidelines

Over the last couple of years we have observed an unprecedented turbulent trade environment around the globe. Given the rising wave of nationalism the main trading states follow political guidelines dressed up as scientific evidence.

The issues of EU – Ukraine trade and investment relations, a new generation of FTAs, the ongoing trade war with the Russian Federation remain high on Ukraine’s international trade agenda. Yet, being more forward thinking, we should anticipate events and be prepared for the outcomes of current tensions between the US and China and the growing level of protectionism across the world.

Russia’s sanctions against trade with Ukraine were a trigger to consider trade agreements and the opening up of new export markets more strategically, using available mechanisms of defense and the rules-based multilateral trading system.

The laws regulating trade defense remedies in Ukraine date back to 1998, and require modernization. Subsequent draft laws have been stacking up in the Ukrainian Parliament since March. It goes without saying that the evident economic significance of new regulation faced pure political interests.

Happy reading,
Olga Usenko

The Ukrainian Journal of Business Law

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