The Russia’s losses from the free trade area (FTA) between Ukraine and European Union (EU) in the short term could make up about USD 3.5 billion, the first deputy Minister of Economic Development of the RF Alexei Likhachev said, RBC-Ukraine reports.
“In total, the analysis of losses for Russia’s economy, estimated as per international widely recognized model Global Trade Analysis Project, shows that in the short term the losses just from tariff liberalization will make up USD 3.5 billion for Russian entrepreneurs”, said Likhachev.
He noted that this is the losses, which the Russian business community would suffer in case of absence of Russia’s response to FTA between Ukraine and the EU.
