Business news from Ukraine

Business news from Ukraine

UKRAINE USES OPPORTUNITIES OF 31 OUT OF 40 QUOTAS FOR DUTY-FREE EXPORT OF AGRO PRODUCTS TO EU

Ukrainian exporters this year will use the opportunities for 31 out of 40 tariff quotas for duty-free supplies of agricultural products to the European Union, as of the end of August, eight tariff quotas have already been fully used, the Development Director of the Ukrainian Horticultural Association, UN FAO International Consultant Yekateryna Zvereva has said.

“In 2020, Ukrainian exporters will take advantage of 31 out of 40 tariff quotas. As of the end of August, eight tariff quotas have already been fully used: honey, barley and flour, processed tomatoes, processed starch, grape and apple juices, corn, malt and starch products, sugar. Tariff quotas are used for cereals (81.2%), eggs and albumin (75%), poultry (73.4%), starch (73.3%), malt and wheat gluten (72.2%), additional quotas for eggs and albumin (60.4%), bran, waste and residues (55.2%), additional quota for poultry (53.1%), oats (45.3%), wheat (40.2%), etc.,” she wrote in a column for the Interfax-Ukraine agency.

According to Zvereva, in 2016-2019 the positive dynamics of development of trade with the European Union, which today is the main trade partner of Ukraine with a share of more than 41% of the total volume of trade in goods, is obvious. Trade in goods with high added value is gradually growing.

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UKRAINIAN PRESIDENT BELIEVES THAT UKRAINE CAN EXPORT MORE PRODUCTS TO CHINA

President of Ukraine Volodymyr Zelensky believes that current good indicators of trade turnover between Ukraine and China can be significantly increased, and Ukraine will have something to offer China in terms of exporting high-tech products, products with a high degree of processing and high added value.

“Ukraine has significant potential for cooperation with China in various fields, comparable or even greater than that of many other Eastern European countries. We are interested in the successful realization of this potential. China confidently took the first line in the ranking of our largest trading partners: last year our trade turnover amounted to about $13 billion. And China takes leading positions among the main export partners of Ukraine. I am convinced that the current figures can be significantly increased,” he said in an interview with the Chinese news agency Xinhua.

The President of Ukraine said that Ukraine was one of the first countries to support the initiative of the President of the People’s Republic of China Xi Jinping “One Belt, One Road.”

“Ukraine has a unique geographical location – on the eastern border of the EU, on the way from Asia to Europe, as well as between the Black and Baltic Seas. We have the necessary economic and industrial potential for effective participation in this ambitious project,” he said.

Among the priorities of practical cooperation with China, Zelensky named the credit and investment, agro-industrial, engineering and transport sectors. “Ukraine has significant scientific and educational potential, rich culture. All this provides good opportunities for increasing the volume of trade and economic cooperation, enhancing bilateral humanitarian contacts and exchanges,” he said.

Zelensky said that in order to create better conditions for tourism development, Ukraine introduced a temporary visa-free regime for Chinese tourists from August 1.

“We will continue to try to improve the conditions for mutual trips of citizens of the two countries, so that they have better opportunities to get acquainted with the rich history and culture of Ukraine and China,” he said.

In his opinion, one of the steps towards cultural rapprochement between the two peoples should be the systematic training of specialists in Sinology in Ukraine, and now the Chinese language is being studied at Ukrainian secondary schools and universities, in Ukraine about 500 Sinologists annually receive diplomas of philology, there are qualified translators.

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SMARTPHONE MARKET IN UKRAINE AFTER QUARANTINE GROWS BY 5%

OPPO AED Ukraine, a subsidiary of the Chinese OPPO, has noted the growth of the smartphone market in Ukraine by 5% after the quarantine and expects the growth of smartphone penetration in Ukraine to continue in the next few years.

“The impact of the pandemic, quarantine [on the market] should be taken into account. It is clear that it caused a short-term decline and made its own adjustments, but the demand for smartphones due to telecommuting and education, online shopping has increased, and the market itself has also increased after quarantine by 5%,” OPPO AED Ukraine CEO Henry Wang said in an interview with Interfax-Ukraine.

He also said that according to the company, the average price of a smartphone in Ukraine is UAH 5,800 and has not changed over the past year.

“This is due to the current general economic situation in the country. I believe that with social stability and a gradual recovery of the economy, the average price of mobile phones will continue to grow… Now we understand that the greatest demand will be in the budget price segment – that is, all smartphones that cost less than UAH 6,000. On the Ukrainian market, this segment will probably be from 60 to 80%,” Wang said.

OPPO AED Ukraine also expects that with the spread of 4G communications, more and more Ukrainians will switch to smartphones.

“We believe that the Ukrainian market has the potential to become one of the largest in demand for 5G smartphones in the next few years after the launch of 5G networks, and the penetration rate will stabilize at over 80%,” the CEO of OPPO AED Ukraine said.

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