The Interdepartmental Commission on International Trade has decided to introduce antidumping duties on imports of bars made of carbon and other alloy steel originated from Belarus and Moldova. According to a report of the commission published in the Uriadovy Kurier government’s newspaper on December 6, the final antidumping measures are introduced for five years.
Zero final antidumping duties are imposed on OJSC Belarusian Metallurgical Plant – the managing company of Belarusian Metallurgical Company holding (OJSC BMZ) and CJSC BMZ-Baltic Trading House (Lithuania), an exporter of carbon and alloy steel bars manufactured by OJSC BMZ.
For other manufacturers and exporters of goods originated from Belarus, a duty of 31.08% is introduced.
For OJSC Moldavian Metallurgical Plant (MMZ, Moldova), the duty is set at 13.80%, for other manufacturers and exporters of goods originating from Moldova – 35.37%.
The final antidumping duty is charged as a percentage of the customs value of the goods.
The decision of the commission comes into force 30 days from the date of its publication.
Ukraine and the International Monetary Fund (IMF) have reached agreement on a new cooperation program in a telephone conversation between Ukrainian leader Volodymyr Zelensky and IMF Managing Director and Chair of the Executive Board Kristalina Georgieva, the press service of the head of state reported on Sunday.
“The IMF head praised the new [Ukrainian] administration’s economic achievements and the progress in the introduction of reforms made by the government led by Prime Minister Oleksiy Honcharuk. The sides noted following the discussion that Ukraine and the IMF had come to the Staff Level Agreement on a new cooperation program,” the press service said.
Zelensky said that he and Georgieva had a very constructive discussion.
“I am glad that we have reached full understanding and our turbo-mode has been praised by the IMF. I am grateful to the Parliament, the Government and our entire team for their tireless work for the sake of Ukraine. The new program of cooperation with the International Monetary Fund aims to accelerate economic growth, actively eradicate corruption and improve well-being of every Ukrainian,” the president’s press service quoted Zelensky as saying.
The head of state said that Ukraine is not satisfied with the current rate of economic growth, therefore, in order to accelerate economic growth, “we, together with our international partners, will continue reforms to catch up with our neighbors in terms of economic development and prosperity.”
According to the press service, Georgieva said that she commended the extraordinary progress that Zelensky and his government have made over the past few months in promoting reforms and continuing reasonable economic policy.
“I assured the President of the IMF’s readiness to support the political plan of the government for macroeconomic stability and boosting the economy to higher, sustainable and comprehensive growth, among other things, with new IMF support. IMF staff has reached an agreement with the authorities on a policy of supporting a new three-year arrangement in the amount of four billion Special Drawing Rights (SDRs) within the IMF Extended Fund Facility,” Georgieva said.
According to a statement of Georgieva on the website of the IMF, this agreement is subject to IMF management approval and to approval by the Executive Board.
“I was pleased to note that IMF staff has reached agreement with the authorities on the policies to underpin a new 3-year, SDR 4 billion (about $5.5 billion) arrangement under the Extended Fund Facility. This agreement is subject to IMF management approval and to approval by the Executive Board, and effectiveness of the arrangement will be conditional on the implementation of a set of prior actions,” she said.
She said that the Ukrainian President and she agreed that Ukraine’s economic success depends crucially on strengthening the rule of law, enhancing the integrity of the judiciary, and reducing the role of vested interests in the economy, and that it is paramount to safeguard the gains made in cleaning up the banking system and recover the large costs to the taxpayers from bank resolutions.
The Ukrainian industrial company Interpipe has developed and shipped the first batch of ULT SP wheelsets for the Spanish market.
According to a company press release, the new design is part of the Ultimate product line manufactured by the group and is designed for freight cars.
The press service said that in October Interpipe completed the testing and certification of the ULT SP wheelset in European testing centers and certification authorities. It is designed specifically for the Iberian gauge, which is used by the railways of Spain, Portugal and partially France. The peculiarity of this wheelset is that it is wider than the European one – 1,668 mm versus 1,435 mm, therefore it requires a special design of the wheelset.
In addition to the modification of the wheel itself, the specialists of the Interpipe railway division also designed the axle structure for the Spanish track – SP G, which was not previously produced.
Today, local railway operators in the Iberian market use outmoded wheelsets. Interpipe offered consumers a modern solution that could become the new standard for Spain and Portugal.
According to the results of the 60-day deadline for accepting applications for the tender for the transfer of property of state enterprise Kherson Maritime Merchant Port to concession, four companies will take part in it, two of which are international, Minister of Infrastructure Vladyslav Krykliy has said at a briefing in Kyiv. Among the companies that applied for participation in the tender are Busserk Liman Isletme Loj (Turkey), Special Company Kherson Sea Port LLC (Asket Shipping and Global Grain Consortium, Ukraine), Risoil-Kherson LLC (Petro Oil and Chemicals and AT RISOIL consortium, Georgia and Switzerland), as well as Ukrmorport LLC (Ukraine).
As reported, the government announced the start of tenders for pilot concession projects in the port industry on September 12, 2019. An agreement will be concluded with the winner of each tender, the parties to which will be the Ministry of Infrastructure, the Ukrainian Sea Ports Authority, the winner of the tender, as well as the company (SPV, the so called special purpose vehicle), which will be created and registered as the winner of the tender in Ukraine for the implementation of the project.
Feasibility studies for pilot projects were developed by a consortium of international consultants, formed by the EBRD and the IFC. In preparing the feasibility study, a systematic analysis of the market was carried out, and financial, technical, environmental and legal examinations were conducted. In addition, meetings were held with potential domestic and foreign private partners in order to take into account their proposals for the implementation of projects.
Managing Partner of Biopharma Kostiantyn Yefymenko is considering the possibility of building a lysine plant in Bila Tserkva (Kyiv region), which is used as a feed additive in animal husbandry.
“I now have two options. To build a Biopharma plant in India and Brazil or a lysine plant. I bought a 10 ha plot with a supply of 100 cubic meters of water per hour, Biopharma consumes 75 cubic meters per day, the plant is the equivalent to processing 120,000 tonnes of grain. With the supply of water, the problem is solved, I’ve already bought 10 hectares, I have already connected electricity … I lean toward the lysine plant in Bila Tserkva,” he said on the sidelines of the Kyiv International Economic Forum.
He noted that he had already invested $2 million in the project.
As reported, the German pharmaceutical company STADA buys the pharmaceutical business of prescription and over-the-counter drugs of the Biopharma manufacturer of blood-derived products. The transaction is expected to close in December 2019.
Biopharma Managing Partner Kostiantyn Yefymenko together with partner Vasyl Khmelnytsky and financial investors will focus on developing the Biopharma blood plasma processing business, developing a new Biopharma plasma fractionation plant and a network of modern blood collection centers, as well as expanding its presence in international markets.
Latvia will resume the work of the Investment and Development Agency (LIAA) in Ukraine in 2020 after a three-year break, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Dmytro Kuleba has said following a meeting with Minister of Economics of the Republic of Latvia Ralfs Nemiro, according to the government’s press service.
“The office of the Latvian Investment and Development Agency in Kyiv will promote a daily dialogue between Ukrainian and Lithuanian businesses and will provide a strong impetus to the development of bilateral investment cooperation. The resuming of office’s work after a three-year break is a clear message that foreign investors see positive changes in Ukraine. There will be more investment and more trade with our friend and EU member Latvia,” Kuleba said.
Nemiro reported that the office would resume its work next year after the completion of technical procedures.
The ministers also agreed to reform the work of the Ukrainian-Latvian Intergovernmental Commission on Economic, Industrial, Scientific and Technical Cooperation.
The co-chairs of the Commission agreed that the next meeting would be held in May 2020 in Kyiv. Among the priority issues on the agenda will be digitization, agriculture, pharmaceutical industry and logistics.
Kuleba suggested holding a special business forum in the framework of the Commission’s meeting that would contribute to building connections between Ukrainian and Latvian entrepreneurs.
“Business contracts entail international contacts, hence they should not only promote establishing links between governments but also facilitate building more productive relations directly between the entrepreneurs of the two countries,” Kuleba said.
In turn, Nemiro supported the idea of holding such a forum.
As of July 1, 2019, Latvia invested in Ukraine $41.5 million, in particular $9.6 million (23.1%) in professional, scientific and technical activities, $8.2 million (19.6%) in financial and insurance activities, $5.7 million (13.8%) in industry. Ukrainian investment in the Latvian economy over the same period amounted to $72.1 million.
