Global regulatory challenges and opportunities for UA AGRO in the next decade
On Thursday, April 10, Nazar Bobytsky, Head of the Brussels Office of the UBTA, presented the global regulatory and policy challenges and opportunities for Ukraine's agricultural sector in the next decade during the XI International Conference "Effective Management of Agricultural Companies" (LFM), organized by the Association "Ukrainian Club of Agrarian Business".
The main trends, in terms of international agricultural trade, will be the following:
- Long-term challenges and opportunities of a pandemic
- Deglobalization of international trade
- European Green Course of the EU
- Revision of the Ukraine-EU FTA.
Currently, the Ukrainian agribusiness should consider three recommendations arising from the analysis of the above-mentioned trends in international trade:
- in the short term, the pandemic provided slightly more opportunities than challenges for the agri-food sector, given the primacy of food security. At the same time, the prospects remain uncertain, as the consequences of the pandemic for the world economy are unknown.
- WTO paralysis is the fragmentation of the international trade system, the predominance of the rule of law over the rule of law, and the dominance of regional states and blocs. The importance of the EU-Ukraine DCFTA as a platform for resolving disputes, which businesses must be able to use, will grow. The alternative is the "jungle law" of the strongest trading players.
- Climate change is gradually becoming a key and destabilizing factor in international trade. Ukrainian business needs to closely monitor the evolution of the EU's response to this trend - the European Green Course - and adapt to it.
- revision of the EU-Ukraine FTA is a unique chance to improve trade conditions with the EU and at the same time adapt them to new challenges and realities. This chance should be treated responsibly.
For more information please check the presentation via the link: