Business news from Ukraine

Business news from Ukraine

Minister of Finance of Ukraine presents customs reform plan to G7 ambassadors

8 August , 2024  

The Minister of Finance of Ukraine Sergii Marchenko and his Deputy for European Integration Yurii Draganchuk presented their vision and plans for the further implementation of the customs reform to the ambassadors and representatives of the G7 missions in Ukraine.

“The goal is to transform the Ukrainian customs into the eastern border of Europe according to EU standards and at the same time strengthen its security function… We are interested in building an efficient, high-tech and transparent customs, which will take time, informed decisions and consolidated support,” Marchenko said in a release from the Ministry of Finance on Thursday.

It is specified that the discussion concerned the steps taken by the Ukrainian government to develop and reform the State Customs Service, as well as the concept of transparent selection of customs management.

The Ministry of Finance emphasized that reforming the State Customs Service is one of Ukraine’s priorities in the process of integration into the EU.

According to the Ministry, in the first seven months of 2024, the State Customs Service exceeded its revenue plan by 5.2%, or UAH 16.4 billion, and customs revenues to the state budget amounted to about UAH 329 billion.

The customs reform is envisaged by the Plan of Ukraine under the EU’s Ukraine Facility, the National Revenue Strategy for 2024-2030, and is also one of the structural beacons under the IMF’s EFF Extended Fund Facility program.

The Ministry of Finance added that it continues to actively work on the implementation of EU customs legislation and the development of a new Customs Code, as well as on the introduction of IT and other common customs procedures to develop foreign economic activity and simplify business.

“I am convinced that further support for the reboot of the Ukrainian customs with the support of international experts will be crucial for the effectiveness of this process,” Draganchuk said.

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