Business news from Ukraine

PM GROYSMAN TO MEET WITH EU HIGH REPRESENTATIVE FOR FOREIGN AFFAIRS MOGHERINI ON MARCH 12

Ukrainian Prime Minister Volodymyr Groysman will meet with EU High Representative for Foreign Affairs and Security Policy Federica Mogherini on March 12, the press service of the Cabinet of Ministers of Ukraine has reported.
According to the report, Groysman and Mogherini will hold a briefing as part of the meeting.
On March 12, Mogherini will also meet with Ukrainian President Petro Poroshenko. During the meeting, the sides will discuss security in Donbas and prospects for the deployment of a UN peacekeeping force. In addition, the parties will coordinate their positions regarding the non-recognition of illegal Russian presidential elections in the temporarily occupied territories of Crimea and Sevastopol.
Earlier, the press office of the EU Delegation to Ukraine reported that Mogherini would meet with Foreign Minister Pavlo Klimkin and Minister for Temporarily Occupied Territories and Internally Displaced Persons Vadym Chernysh.
In addition, the High Representative will meet with Ambassador Ertugrul Apakan, the Chief Monitor of the OSCE’s Special Monitoring Mission, Martin Sajdik, the OSCE’s Special Representative to the Trilateral Contact Group, and Alain Aeschlimann, Head of the Mission to Ukraine of the International Committee of the Red Cross (ICRC) to address the situation on the ground and the implementation of the Minsk agreements.
While in Kyiv, the High Representative will also speak to students at the Taras Shevchenko University, meet with representatives of civil society organizations, and with members of staff of the European Union’s Advisory Mission and the EU Delegation to Ukraine.

FOOTBALL CLUB SHAKHTAR’S REGISTRATION IN MARIUPOL TO BRING CITY UAH 200 MLN

The legal registration of PJSC Football Club Shakhtar in Mariupol will help bring an additional UAH 200 million to the city’s budget every year, Mariupol Mayor Vadym Boichenko has said. “The Mariupol mayor appealed to FC Shakhtar’s president, and the latter personally decided to register the football club in the city of Mariupol. Rinat Akhmetov is sure that this symbol of our land should be here in eastern Ukraine. He is deeply convicted that while Shakhtar cannot play at the Donbas Arena, but it is right here and it will help develop the football and sports infrastructure of Mariupol,” he said.
Boichenko said that this decision would be taken as part of the sports development program in Mariupol, which the city authorities and FC Shakhtar will present and approve on March 5. “Based on the official statistics of our tax service, we are talking about additional income in the city of Mariupol of about UAH 200 million,” the mayor said, speaking about the effect of FC Shakhtar’s registration in Mariupol.
According to the single state register of legal entities and individuals, FC Shakhtar is now registered in Mariupol at 71A Sechenova Street. The club was previously registered in Donetsk at 86A Artema Street.

JTI UKRAINE PLANS TO START EXPORTS TO TAIWAN

JTI Ukraine, part of JTI Group headquartered in Geneva (Switzerland), will start exporting finished products to Taiwan in 2018, JTI Ukraine General Manager Paul Holloway has said. “This year Taiwan is new for us. In March-April 2018, we will start exporting our products that would be made at the Kremenchuk factory,” he told reporters in Kyiv on Monday.
At present, the company exports cigarettes to Georgia, Azerbaijan, Armenia, Moldova, Mexico, Jordan, Korea (Duty Free), Cote d’Ivoire and Guinea. The share of exports is 34%, the rest of the products is sold on the domestic market. According to the company’s information, in 2017, it exported products for $103.3 million against $114.1 million in 2016.

STATE DEBT OF UKRAINE FROM 2010 TILL 2017 IN DIAGRAM (IN MLN UAH)

The aggregate state (direct) and state-guaranteed debt of Ukraine in January 2018 decreased by 0.25%, or by $190 million, to $76.11 billion, according to the website of the Ministry of Finance.
In the national currency the state debt decreased by 0.46%, or by UAH 9.82 billion, to UAH 2.132 trillion.
According to the report, public debt in January fell by 0.04%, to UAH 1.833 trillion (in dollars it grew by 0.17%, to $65.44 billion), in particular external rose by 0.67%, to UAH 1.088 billion (in dollars by 0.88%, to $38.83 billion).
The state-guaranteed debt in January declined by 2.94%, to UAH 298.9 billion (in dollars it decreased by 2.74%, to $10.67 billion), in particular external debt by 3.08%, to UAH 285.6 billion (in dollars by 2.88%, to $10.2 billion).

EUROPEAN COMMISSION APPROVES EUR 1 BLN MACRO-FINANCIAL ASSISTANCE PROGRAM FOR UKRAINE

The European Commission has adopted a proposal for a new macro-financial assistance (MFA) program for Ukraine worth up to EUR 1 billion to support economic stabilization and structural reforms. According to the website of the European Commission, this will be the fourth macro-financial assistance program for Ukraine, which is subject to approval by the European Parliament and the Council of the European Union.
“Today’s proposal follows a request from the Ukrainian authorities and direct discussions between Commission President Jean-Claude Juncker and Ukraine’s President Petro Poroshenko. The new program seeks to build on the progress made in supporting economic stabilization and structural reforms under the three previous MFA operations,” .
European Commission Vice-President Valdis Dombrovskis said that Friday’s proposal on the fourth Macro-Financial Assistance program shows the EU’s commitment to stand with the people of Ukraine. He also said the Commission is counting on the European Parliament and Member States for their support for this program. The Commission said that the disbursements under this program would depend on the implementation of reforms in Ukraine.
“All disbursements under the proposed program, including the first, would be conditional on the implementation of reform measures designed to address vulnerabilities identified in the Ukrainian economy. Established in a Memorandum of Understanding, they would take into account measures that remain outstanding from the previous MFA program and include steps to intensify the fight against corruption,” the European Commission said.