Ukraine can replace Russia in many European market segments, particularly in pharmaceutical exports.

According to NBU analysts, Ukrainian producers can replace the supply of goods and services from Russia and fill the EU market with the necessary finished products or raw materials. Prospective ways of increasing the presence of Ukrainian manufacturers in the European market include substituting agricultural products; products from the extractive industry and metallurgical products; and technological products, particularly products produced by the military-industrial complex.

Another area of potential ​​substitution is pharmacology. However, Ukraine will compete with India and China, leaders in the production of active pharmaceutical ingredients (API). Over the past six years, Ukraine has irregularly exported some APIs to the EU and, given its significant pharmacological capacity, has prospects for expanding exported supplies contingent on obtaining pharmaceutical visa-free entry status into the EU for domestically produced pharmaceuticals.

Ukrainian pharmaceutical enterprises can produce intermediate products and generic drugs from the critical list of EU medicines (antibiotics, thrombolytics, insulin, antipyretics, and painkillers).