Seven years have passed since the annexation of Crimea on March 18, 2014. According to the Director of the Institute of Economics at the Federal University of Crimea, Viktor Reutov, the Crimean economy has since grown 2.5 times compared to the 2014 benchmark.

Crimea has close economic cooperation with Abkhazia. Mainly food, including meat and chemical products are exported from Crimea to Abkhazia.

According to Ksenia Slutskaya,the Aacting Director of the Southern Regional Export Support Center, exports from Crimea to Abkhazia totaled over USD 2.6 million in 2020. According to Slutskaya, Abkhazia is one of the priority directions of export due to “proximity, equal geopolitical position, kinship of mentality.”

Slutskaya also noted that a Crimean delegation visited Abkhazia in 2019, and the sides signed trade contracts. Although in 2020, the “pace of cooperation slowed down” due to the pandemic, a roundtable discussion of Crimean entrepreneurs will be held in Simferopol, on March 30.