While Ukraine lost more than 60% of trade due to the blockade of ports, Russia increased trade in 2022, analysts said.
Unblocking exports through ports is one of the main challenges for Ukraine and the world. Victory at sea will be the foundation for the restoration of our country’s economy and security throughout the region. This was stated in a study published on the website of the Federation of Employers of Ukraine on Monday, March 27.
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“The complete unblocking of ports will provide Ukraine with 10% of GDP, $18 billion in foreign exchange earnings and 135 billion hryvnias in tax revenues per year. In addition, it will restore 0.5 million jobs, reduce the cost of logistics and restore imports of sea coal for a stable passage of the warming season 2023-24 year,” the study said.
The federation emphasized that while Ukraine has lost more than 60% of trade due to the blocking of ports, Russia is increasing trade through ports – in 2022 it will bring more than 250 million tons, which almost 3% more than a year earlier.
The authors of the study point out that our partners will also receive a positive effect from the unblocking of the ports, because economic recovery will allow Ukraine to increase domestic financing of military spending, and the countries of the world to increase the imports of goods with high value in our country.
In addition, thanks to the restoration of jobs, the economic pressure will decrease on the countries hosting Ukrainian refugees. That is why Ukraine, together with the UN, Turkey and IMO, as well as thanks to the pressure of sanctions that have been coordinated with international partners, must unblock free navigation in the Black Sea.
“If it is impossible to completely unblock the ports, apply mirror mechanisms to the Azov-Black Sea ports of Russia. That is, the blockade of all cargo, except for agricultural products, a complete examination of all ships bound for Russia / annexed territories of Ukraine, as well as declaring all waters of Russian ports as a zone military risks,” concluded the federation.
Earlier, business representatives and the American Chamber of Commerce in Ukraine appealed to the UN and Turkey in a call to ensure free navigation in the Black Sea region and unblock Ukrainian ports. In case the Russian Federation does not agree, its ships must be subjected to the same checks as the Ukrainian ones – after all, they can transport military cargo.
Recall that the Ministry of Infrastructure called ports a key element in Ukraine’s economic stability and its growth.
It is also reported that Ukraine has expanded the possibility of the passage of ships in the Danube. This will ensure safer navigation and increase the flow of goods at the ports on this river.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.