German industrialists opposed sanctions

The Russian market for German industry is much more interesting than the Ukrainian. This conclusion leads Study Committee on Eastern Union “German industry”, conducted in the wake of the Ukrainian crisis.

The trade turnover between Ukraine and Germany before was not so significant, fluctuating at around close to Slovenia and Bulgaria. During the conflict, from January to April of this year, German exports to Ukraine has decreased by more than 30 percent compared with the same period in 2013, and the overall balance of trade between the two countries fell by almost a quarter. Exports to Russia fell by about 14 percent, while the overall balance of only 3.71 percent. At the same time, Russia’s trade with Germany exceeds the Ukrainian-German tenfold.

Contrary to statements by the European Commission loud that after the signing of the Association Agreement with Ukraine to Europe opens a huge consumer market, the data of the Eastern Committee show that in a country which has long been the industry is almost “zero”, hardly possible imminent changes for the better. After all, trust in the state capital with a collapsed during the conflict economies are unlikely to recover quickly. And the rise of industry and bringing it to the European level under the most favorable conditions it will take decades. The fact that it requires billions in loans exceeding help Ireland, Greece and Portugal, the European Commission has not been told. All fears and criticism thunder drowned fanfare, announcing the achievement long goal of signing the agreement.

Poll of the Eastern Committee shows that the mood among German entrepreneurs in the field of mechanical engineering, energy, construction, agriculture, food, counseling, chemical and automotive industry have dropped significantly. 53 percent of those surveyed 105 companies fear recession in Russia, 77 - Ukraine. These manufacturers have suspended investments worth 140 million euros.

Half of the surveyed companies said that the Ukrainian crisis and consequently the constant threats of sanctions negatively wag their business in Russia, 10 percent consider the impact as “very negative.” Meanwhile, as dissatisfaction business in Ukraine is much higher: nearly 90 percent of the enterprises involved in the domestic market, have felt the negative impact of the conflict.

30 June 2014

As Russian farmers in crisis in Ukraine
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