The arbitration panel in the dispute between Ukraine and the EU regarding the ban on the export of unprocessed wood (logs) has recognized that Ukraine has the right to restrict the export of logs under certain circumstances, Deputy Minister of Economic Development, Trade and Agriculture, Trade Representative Taras Kachka has said.
“The arbitrators in the unprocessed wood case have made their decision regarding the ban on the export of logs. The arbitrators recognized that Ukraine is able and has the right to restrict logs exports under certain circumstances. So the existing export ban in 2005 was recognized by the court as fully legitimate,” Kachka wrote on his Facebook page.
He said that at the same time, the arbitrators recognized that the 2015 ban should be adjusted taking into account the full right of Ukraine to regulate this area of activity in accordance with Article 290 and Article 293 of the Association Agreement. Corrective actions should be carried out in cooperation with the EU.
“The decision of the arbitrators gives us wide freedom to choose the measures of execution of the decision. The cornerstone of its implementation will be the creation of a normal market within Ukraine. So, the first step should be the approval of the law of Ukraine on the unprocessed wood market (bill No. 4197-1) based on a government experiment to sell logs at auctions,” Kachka said.
The Antimonopoly Committee of Ukraine (AMCU) has granted permission to Vesco Limited (Limassol, Cyprus), which unites the clay mining business of the investment company UMG Investments of SCM Group, to purchase more than 50% of the shares of PJSC Chasiv Yar Refractory Plant (Chasiv Yar Donetsk region).
“The AMCU has granted permission for the stated actions and imposed obligations, which stipulate the implementation of concentration in the markets of aluminosilicate refractories and refractory clay of Ukraine,” the agency said in a press release.
The committee recalls that these obligations were offered by Vesco Limited itself last fall for a period of five years and consist, in particular, of selling to third-party buyers, if there is a demand from them, of at least 50% of the annual sales volume of the plant’s goods at market prices.
Another obligation is not to allow limiting the volume of supplies of refractory clay without economically justified reasons to third-party buyers who intend to purchase them for the needs of their own production in Ukraine.
In addition, Vesco will have within two years, in the absence of alternative sources of supply of refractory clays mined in Ukraine in volumes that fully meet the needs of Ukrainian consumers, to ensure the sale of refractory clays in favor of such companies in volumes from 20% of the total annual sales of concentration participants, if there is demand, at market prices.
Initial registrations of electric vehicles (new and used) in January-November 2020 decreased by 2% compared to the same period in 2019, to 6,823 units, including 92% of used cars, the Ukrautoprom association reports.
Thus, in the 11 months, the market of electric vehicles turned to negative dynamics, while over the ten months there was still a slight increase (by 1%), despite the drop in sales in October by 15%, and in the seven months, the growth was 7%.
This situation is due to the fact that, according to the association, in November compared to the same month of 2019 the number of registrations of electric cars decreased by almost 28% from November 2019, to 514 units (481 passenger cars and 33 commercial vehicles), which is also almost 22% less than in October 2020.
However, at the same time, the report states, the share of new cars increased to 10% from 6% in November last year, used electric cars from abroad were purchased by 461 persons (31% less than a year earlier), while the demand for new cars rose by 29%, to 53 units.
The most popular passenger electric car remains Nissan Leaf (126 cars were bought in November). The top five cars also include Chevrolet Bolt with 69 units, Tesla Model 3 with 55 units, Tesla Model S with 36 cars, and BMW i3 with 23 vehicles.
Commercial electric vehicle statistics for November were formed by Renault Kangoo Z.E. with 26 vehicles and NISSAN e-NV200 with seven units.
The National Bank of Ukraine (NBU) is oriented on the growth of the country’s international reserves in 2020 from $25.3 billion at the beginning of the year to more than $27 billion at the end of the year, Deputy Governor of the National Bank Yurii Heletii has said.
“The indicator of international reserves will be higher than at the beginning of the year. Let me remind you that at the beginning of the year it was $25.3 billion. Our target is more than $27 billion,” he said.
According to the banker, the final volume of international reserves will depend on placements by the Ministry of Finance.
He explained that in the October forecast of the NBU, which assumed that international reserves at the end of this year will amount to $29 billion, it was planned to receive financing from the IMF, the World Bank and the EU.
According to the official, the state of international reserves is satisfactory and, according to the composite criterion, which is calculated according to the EU methodology, exceeds 90%.
As reported, the European Commission, on behalf of the European Union, issued EUR 600 million to Ukraine as part of the macro-financial assistance program related to COVID-19.
The enterprises of Ostchem Holding, which unites the nitrogen enterprises of Dmytro Firtash’s Group DF, produced 2.5 million tonnes of mineral fertilizers in the first nine months of 2020, which is 23.8% more than in the same period last year.
Rivneazot produced 636,300 tonnes (4% more), Severodonetsk Azot 579,600 tonnes (149% more), Cherkasy Azot some 1.29 million tonnes (a rise of 9.9%).
In 9M 2020, enterprises produced a total of 1.2 million tonnes of ammonia (for the nine months of last year – 763,000 tonnes), one million tonnes of ammonium nitrate (992,000 tonnes), 665,000 tonnes of urea (450,000 tonnes), 534,000 tonnes of urea-ammonia mixture (408,000 tonnes in January-September 2019), 176,000 tonnes of lime-ammonium nitrate and 48,000 tonnes of ammonia water.
Ostchem is a nitrogen holding, part of Group DF. It brings together the chemical producers Rivneazot, Severodonetsk Azot, Cherkasy Azot, as well as the retail operator Ostchem Retail.
Group DF also includes other Firtash’s assets in gas distribution, chemical, titanium and port industries. The group also develops businesses in the field of agriculture and media.
During the meeting, Deputy Head of the Office of the President Yulia Kovaliv and British Ambassador to Ukraine Melinda Simmons discussed issues of enhancing trade relations and investments between the countries as part of the implementation of the Agreement on Political Cooperation, Free Trade and Strategic Partnership.
“Today, at a meeting with British Ambassador to Ukraine, Ms. Melinda Simmons, we discussed issues of enhancing trade relations and investments in the framework of the implementation of the Agreement on Political Cooperation, Free Trade and Strategic Partnership,” Kovaliv wrote on her Facebook page.
She also recalled that thanks to the Memorandum with UKEF signed in October 2020, the UK will be able to provide loan guarantees of up to GBP 2.5 billion for British-Ukrainian trade contracts.
“The access of business of both countries to the instrument of loan guarantees will enable to intensify cooperation and stimulate investments in the economy,” Kovaliv added.
