On the 8th of July Dr. Ricardo Giucci, Managing Director of Berlin Economics, during an event at the Federal Ministry for Economic Affairs and Energy (BMWi), carried out a study by Berlin Economics on the economic effects of the deep and comprehensive free trade agreements (“DCFTA”) on Ukraine, Moldova and Georgia. He was accompanied by Woldemar Walter, Coordinator of the German Economic Team Moldova.
At the opening and welcome by Dr. Ing. Heinz Hetmeier, Deputy Head of the European Department of the BMWi, followed a round of introductions of the participants. In addition to employees of the BMWi, representatives of the Federal Foreign Office, Germany Trade and Invest, the German Chamber of Industry and Commerce as well as the Bundestag and the Federal Chancellery were present.
In his presentation, Dr. Ricardo Giucci outlines the economic impact of the DCFTA on Ukraine, Moldova and Georgia. Berlin Economics analysed these in terms of three categories: exports, composition of exports and foreign investment (FDI). The effect of the DCFTA on the countries is generally positive, but there are big differences between countries, according to Giucci.
Ute Kochlowski-Kadjaia, Managing Director of the Ost Ausschuss Osteuropaverein – The German Eastern Business Association (OAOEV), then emphasized the high importance of such studies in her eyes and thanked the team of Berlin Economics. Then she opened with comments on their part a lively question-and- answer session. Topics included possible consequences of the study’s findings for the introduction of free trade agreements in other countries and the future development of trade between the Eastern European countries and China and Russia. Finally, Yildiz Götze, Head of Division at the BMWi, drew a positive conclusion and closed the event.
Apart from in Berlin, Berlin Economics presented the results of the study to an interested audience in Brussels, Kiev, Chisinau and Tbilisi.