A number of European Business Association (EBA) member companies, which “have Chinese roots,” are concerned about the imposition of sanctions by Ukraine against the Chinese shareholders of PJSC Motor Sich and will temporarily refrain from investing, EBA Executive Director Anna Derevyanko has said.
Chinese investors have temporarily put on hold all the issues related to investing in the country, she said at a meeting of the Global Economic Review of Ukraine association, when its participants raised the issue of these sanctions and their possible consequences for trade and economic relations with China.
According to Andriy Horokhov, the director general of UMG Investments, in 2020 Ukraine was lucky with the conjuncture in agriculture and metallurgy, and a large part of the products of these industries went to China. He added that the Chinese market is also expected to grow in 2021.
“I understand for sure that you have to be more careful with a trading partner with a turnover of about $ 10 billion,” he said.
“If suddenly we make mistakes in this direction, then we will need to understand where we will compensate for our sales markets, given the situation in Europe and the United States and the uncertainty with the pandemic. I hope there will be wise and balanced decisions here, and people will professionally approach this issue,” he said.
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