Ukraine should adopt an industrial policy of ‘smart protectionism’ to accelerate an economic shift from raw materials exporter to exporter of produced goods
Thursday, October 18, 2018

Ukraine should adopt an industrial policy of ‘smart protectionism’ to accelerate an economic shift from raw materials exporter to exporter of produced goods

Ukraine should adopt an industrial policy of ‘smart protectionism’ to accelerate an economic shift from raw materials exporter to exporter of produced goods, argues Viktor Galasyuk, chairman of the Rada committee on Industrial Policy and Entrepreneurship. “Why are Ukraine’s salaries the lowest in Europe?” he asked at a “Trade Wars” forum organized by Ilyashev & Partners law firm. “We sell wheat, and buy spaghetti. We sell round wood timber, and buy furniture. We sell steel scrap at $300 a ton, then spend millions to buy tanks. This is outrageous.” He said Ukraine can win EU allies by bringing in more EU investment. “The latest figure for new foreign investment is $2 billion. At this rate, Ukraine will need 100 years to catch up with Poland.”

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