The Zaporizhstal steelworks in Zaporizhia has begun a series of major repairs to key energy equipment.
According to its annual capital investment program, Zaporizhstal will repair key units of the thermal power plant this year, allocating approximately 75 million hryvnias for this purpose.
“The thermal power plant is responsible for the production of three key types of energy resources – steam, blast air, and electricity – and supplies them to the plant’s divisions, ensuring the continuity of the production process at the sintering plant, blast furnace, rolling and other main and auxiliary shops. The overhaul will improve the reliability and uptime of both individual units and the entire energy complex of Zaporizhstal,” said Taras Shevchenko, acting CEO of the company.
It is specified that the plant will repair the power equipment in stages, as the work will be carried out while production continues, maintaining planned production volumes.
Zaporizhstal has already begun a large-scale overhaul of boiler unit No. 5, which is scheduled to be carried out every few years and will last about 100 days. Next in line is turbo compressor unit No. 7, with all planned work to be completed within 80 days. In the fall, major repairs will begin on turbine generator No. 1, which will last 45 days. Preparatory work is currently underway.
The major repairs will be carried out by the company’s own engineering service with the involvement of contractors Inventum Ukraine and Intel Energo.
The company notes that despite the difficult economic situation, Zaporizhstal is gradually increasing its capital investments in production during the war: in 2022, investments amounted to UAH 500 million, in 2023 – UAH 750 million, and in 2024 – UAH 938 million. The capital investment budget for 2025 is planned at UAH 1.1 billion.
Zaporizhstal is a joint venture of the Metinvest Group, whose main shareholders are System Capital Management (71.24%) and Smart Steel Limited (23.76%).
This article presents key macroeconomic indicators for Ukraine and the global economy as of March 1, 2025. The analysis is based on current data from the State Statistics Service of Ukraine, the National Bank of Ukraine, the International Monetary Fund, the World Bank, and the United Nations. Maksym Urakin, Marketing and Development Director at Interfax-Ukraine, PhD in Economics and founder of the Experts Club information and analytical center, presented an overview of current macroeconomic trends.
Macroeconomic indicators of Ukraine
The beginning of 2025 for Ukraine was marked by the continuation of complex but controllable economic dynamics. Amid the ongoing war, uncertainty in external markets, and a growing trade deficit, the Ukrainian economy is demonstrating resilience and gradual adaptation. As Maxim Urakine notes, at the end of 2024, the Ukrainian economy maintained a positive trajectory, although growth rates were more modest than expected:
“Real GDP growth of 2.9% in 2024 is, on the one hand, a positive sign of recovery, but on the other hand, it signals that the structure of the economy remains vulnerable. This growth is not based on profound investment changes or technological breakthroughs, but rather is the result of adaptation to extraordinary conditions. We are dealing with an economy that is surviving but not developing in the full sense of the word,” said Maxim Urakin, founder of the Experts Club information and analytical center.
In January–February 2025, consumer inflation remained high. In annual terms, it stood at around 12.6%, remaining close to the level seen at the end of 2024. According to the NBU, price pressures are driven by seasonal factors, higher energy prices, and a weak hryvnia.
Commenting on this trend, Urakin notes that the current level of inflation is not catastrophic, but it does not allow for economic maneuvering. High consumer prices are not only a macroeconomic problem, but also a daily challenge for millions of households. The National Bank is forced to balance between the need to maintain the hryvnia and the impossibility of sharply tightening monetary policy due to the vulnerability of the economy.
The external economic situation at the beginning of 2025 revealed a serious imbalance. In January–February, Ukraine exported $6.29 billion worth of goods, 13% less than in the same period of 2024. Imports, on the other hand, rose to $11.3 billion, up 12.3% year-on-year. As a result, the foreign trade deficit reached $5.01 billion, increasing by more than 76%. The ratio of exports to imports, at only 56%, reveals the economy’s critical dependence on foreign goods and energy resources.
“This gap between exports and imports is not just a figure. It is a symptom of structural fatigue. We are too dependent on imports: this applies to fuel, equipment, and industrial components. And until we start investing seriously in local production and processing, this deficit will only grow. On the other hand, exports are currently sustained mainly by agricultural products. But this is not enough to ensure currency stability and financial autonomy,” emphasized the founder of Experts Club.
Despite trade difficulties, Ukraine’s international reserves amounted to $40.15 billion at the beginning of March 2025. Although this figure is 6.7% lower than in January, the main reasons for the decline were currency interventions by the NBU and servicing of public debt. The total amount of public and guaranteed debt at the end of February exceeded $147 billion, of which more than $100 billion was external debt.
Maksym Urakyn believes that the government currently remains capable of meeting its debt obligations, controlling the currency market, and pursuing a balanced macrofinancial policy. However, this achievement is fragile. Without further reforms and without the real sector getting back on track, these reserves could quickly melt away.
Global economy
According to the International Monetary Fund, global economic growth in 2024 was 3.1%, and the forecast for 2025 is 3.2%. However, these figures mask significant regional differences.
According to BEA estimates, the US economy contracted by 0.3% year-on-year in the first quarter of 2025, the first decline since early 2022. The main factor was rapid growth in imports amid fears of new tariffs, which significantly increased the trade surplus. Inflation, according to the latest data, stood at 2.3% (CPI) and 2.6% (core PCE) in April, the lowest levels in recent years. The Federal Reserve is keeping rates at 5.25–5.5%, waiting to see if things calm down before easing.
The IMF forecasts China’s GDP growth at 4.0% for 2025, although the official target is around 5%. The current low inflation indicates weak domestic demand and the need for structural reforms. In March, at the session of the National People’s Congress, the government announced plans to stimulate the economy through consumer support and reforms, but no clear impetus for the real estate market has yet been provided.
According to the EC’s spring forecast, GDP growth in the European Union will be 1.1% in 2025 and 0.9% in the eurozone. Official statistics for the first quarter showed growth of +0.6% compared to the previous quarter, the best result since 2022. Inflation in the eurozone continues to decline, standing at 1.9% year-on-year in May.
The British economy is showing signs of recovery: GDP grew by 0.7% in the first quarter and by 1.2% compared to a year earlier, with a slight increase of 0.2% in March. The Office for Budget Responsibility (OBR) forecasts that inflation will reach 3.2–3.5% in 2025, falling to the target of 2% only in 2027. The Bank of England has already lowered its base rate from 5.25% to 4.25% and is expected to take two more steps during the year.
At the end of the first quarter of 2025, Turkey’s economic growth is estimated at 2.3%, with annual growth of around 3.0%. Inflation fell to 38–39% in March but remains extremely high and continues to be a priority issue for the Turkish Central Bank.
The Indian economy is showing one of the highest growth rates: GDP in the first quarter of 2025 grew by 7.4% year-on-year, confirming that India remains one of the leaders among large countries. Inflation remains under control: in February, CPI was 3.6% and core CPI was 4.1%.
The Brazilian economy continues to grow, albeit at a slower pace: in March, activity was +3.5% y/y, and in the first quarter, +1.3% q/q, the highest figure in two years. BBVA and OECD forecasts point to a slowdown in growth to 1.6–2.1% in 2025. Inflation in March was 5.48%, the highest level since February 2023, raising concerns about the stability of economic policy.
“The global economy is showing a clear divide: the US is on the brink of recession due to imports and trade uncertainty, but inflation is falling. The EU is struggling with low growth and deflationary risks. The UK is trying to avoid stagnation, although inflationary risks remain. China is in a phase of structural decline and needs reforms. India is a striking example of rapid growth thanks to rural demand and industry. Turkey is once again on the brink of crisis due to inflation. Brazil is stable but vulnerable to inflationary pressures. Ukraine needs to choose a strategy against the backdrop of these global trends: either adapt or risk remaining on a marginal trajectory,” Maxim Urakin concludes.
Conclusion
The macroeconomic situation in Ukraine at the beginning of 2025 is one of cautious stability against a backdrop of growing external challenges. Moderate GDP growth, high inflation, worsening trade imbalances, and stable reserves all contribute to a complex but manageable landscape. Meanwhile, the global economy is showing mixed dynamics, opening up new opportunities for countries that are able to quickly adapt and modernize their economic models.
“For Ukraine, 2025 is a time of transition from mobilization to transformation. If we focus on industrial revival, digitalization, export-oriented clusters, and protection of domestic producers, then the country will be able to embark on a new trajectory of sustainable growth,” concludes Maxim Urakin.
A more detailed analysis of Ukraine’s economic indicators is available in the monthly information and analytical products of the Interfax-Ukraine agency, Economic Monitoring.
Head of the Economic Monitoring project, Candidate of Economic Sciences Maxim Urakin
https://interfax.com.ua/news/projects/1080355.html
According to a new report by the United Nations Population Fund (UNFPA) entitled “The real fertility crisis,” global birth rates have reached an all-time low, confirming the global trend toward demographic decline.
Key findings of the study
The average fertility rate has fallen from 5 to approximately 2.2–2.3 children per woman since 1950.
In more than half of countries, including the US, Germany, India, and Brazil, the average number of children per parent is below the replacement level of 2.1–2.2.
One in five adults in 14 countries surveyed (the US, India, Brazil, Germany, etc.) said they could not have as many children as they would like, primarily due to the high cost of living and financial problems.
The analysis shows that the problem is not a lack of desire to have children, but a lack of opportunities — a lack of social and financial support.
“The world has entered a phase of large-scale fertility decline… Many people feel they cannot have the family they want, and this is indeed a crisis,” said Natalia Kanem, Executive Director of the Fund.
Demographic instability — population decline and an aging population — threaten the economy and social structure of countries. The loss of young citizens — young families are postponing having children or deciding not to have them at all, which reduces consumption and national wealth. Geographical heterogeneity — while the populations of Europe and Japan are declining, growth is occurring mainly in Africa, Asia, and Latin America.
The UNFPA report clearly states that fertility is declining not because of a lack of desire to have children, but because of a lack of adequate support from governments. Without PROGRAMMATIC assistance in the social and economic spheres, global societies risk facing demographically impoverished future generations.
Issue No. 1 – June 2025
The purpose of this review is to provide an analysis of the current situation on the Ukrainian currency market and a forecast of the hryvnia exchange rate against key currencies based on the latest data. We consider the current conditions, market dynamics, key influencing factors, and likely scenarios.
Analysis of the current situation on the Ukrainian currency market
The first half of June 2025 saw a continuation of the trend of relative stability in Ukraine’s currency market in the absence of sharp shocks, significant changes, or unexpected exchange rate jumps. At the same time, the market remains in a mode of cautious anticipation on the part of both consumers and operators.
The US dollar exchange rate remains within a controlled range, showing minimal changes within the so-called floating stability. This was made possible by the systemic influence of key factors: high foreign exchange reserves, subdued consumer demand, moderate business activity, and predictable foreign exchange supply.
The euro continued its wave-like dynamics in June, with a tendency to return to growth after a slight correction in May. High sensitivity to the global context, structural demand for the euro in business operations, as well as intensified discussions in Europe on enhancing the role of the euro in the global dimension as a counterweight to the dollar, all keep the EUR/UAH pair in a zone of increased volatility and force us to monitor the EUR/USD pair.
Global context
The first significant signal in June was the European Central Bank’s 25 basis point cut in its base interest rate — the first easing since the start of its tight anti-inflation cycle. The decision was expected and had already been partially priced in, which explains the lack of immediate impact on the euro exchange rate.
At the same time, this move could open a potential cycle of rate cuts in the EU, which could affect the euro’s position in the longer term, especially if the US Federal Reserve remains more conservative. This could create a yield differential in favor of the dollar, potentially reducing the euro’s attractiveness to investors and putting pressure on its exchange rate against the dollar. In such a scenario, the euro risks losing some of its gains in the longer term.
At the same time, the Fed’s key rate remains unchanged in the US, and the institution itself is not giving any clear signals of a cut before the end of the summer. The market perceives this as a sign of internal uncertainty. Forecasting is complicated by the so-called Donald Trump factor, who often makes controversial statements or takes actions that are met with legal opposition, although the general direction of his political approach is already clear, which is a source of new risk expectations: the preservation of a protectionist course, the weakening of the institutional independence of the Fed, and radical financial initiatives. All of these factors, including internal socio-political opposition in the US to the new president’s policies, are fueling a long-term trend of gradual erosion of unconditional trust in the dollar.
Thus, despite the absence of immediate consequences, the positional struggle between the world’s two key currencies, the dollar and the euro, is entering a new phase of strategic review.
Internal context
The National Bank of Ukraine continued its gradual currency liberalization, expanding the list of permitted transactions for banks and businesses. This is evidence of the stabilisation of the domestic currency market, but the real effect of these changes will be assessed not only by the volume of repatriated income, but also by the reaction of potential investors — whether they consider such changes a signal to return capital to Ukraine.
On the other hand, the streamlining of transactions with foreign currency-denominated government bonds, which allowed businesses to circumvent the NBU’s restrictions on currency purchases, is a clear indication of the national regulator’s desire to maintain control over currency transactions and close loopholes for its quasi-legal flow through various channels.
The structure and volume of international support for 2026 remain a key factor of long-term uncertainty. The lack of guarantees of long-term international financing and Ukraine’s unclear implementation of its commitments or their questionable effectiveness could create a dangerous mix of fiscal risks and put pressure on exchange rate expectations. The market and players are naturally beginning to factor these factors into their scenarios.
This may be reflected not only in currency forecasts, but also in the pricing of importers and producers, taking into account the further devaluation of the hryvnia and the desire of the population and businesses to accumulate foreign currency, which will have a wide range of long-term consequences for the stability of the national currency and macroeconomic indicators.
Overall, the situation on the currency market remains calm, but the role of forecast factors is growing, primarily global political risks and long-term expectations regarding financial support. The Ukrainian market is increasingly living in a format of strategic balancing between current stability and future uncertainty.
US dollar exchange rate: dynamics and analysis
In June, the dollar exchange rate against the hryvnia remained stable with a slight downward trend. Over the past 30 days, the average selling rate of the dollar in banks remained at 41.75–41.78 UAH/USD. The buying rate fluctuated around 41.15–41.22 UAH/USD, while the official NBU rate was around 41.50–41.55 UAH/USD.
Over the past week, there has been a slight decline in all three key indicators: the official exchange rate returned to 41.447 UAH/USD, the buying rate to 41.16 UAH/USD, and the selling rate to 41.70 UAH/USD.
The main focus is on spreads: the selling rate has been “pressed” against the official NBU rate for most of the last period, while the buying rate shows greater deviation from it and is moving lower. This indicates that stable demand for cash currency from the population and businesses remains, while operators are reluctant to buy dollars at a higher price. This is evidence that currency market operators do not expect the exchange rate to rise beyond the usual small fluctuations and are not factoring a risk or panic premium into the dollar price. This market behavior signals calm and balance, moderate liquidity, and the absence of psychological pressure factors.
Key influencing factors:
Forecast:
Euro exchange rate: dynamics and analysis
In June, the euro continued its clear upward trend against the hryvnia, remaining the most volatile currency pair on the Ukrainian market. Over the last 30 calendar days, the euro has grown steadily: the average selling rate in banks rose from 46.90 UAH to 48.20–48.30 UAH/EUR as of mid-June. The sharpest movement occurred between June 12 and 13, when the market selling rate jumped by more than 50 kopecks at once and was “caught up” by the official NBU rate the next day. This phenomenon indicates the synchronization of the market and the regulator not only in expectations regarding the further strengthening of the euro, but also in setting prices on the market and the official exchange rate indicator. At the same time, the euro purchase rate by currency market operators showed a more gradual dynamic and did not repeat the growth rate of the selling rate.
As a result, there was a noticeable widening of the spread between buying and selling: from 60–70 kopecks to over 1 UAH. This gap is an indicator of increased nervousness among market operators: in conditions of volatility, financial institutions are trying to protect themselves from exchange rate risks by setting an additional margin as an indicator of expected instability.
Forecast:
• Short term (2–4 weeks): high chances of consolidation within 47.80–48.50 UAH/EUR with situational fluctuations depending on the actions of the NBU, external news, and market sentiment.
• Medium term (2–4 months): in the absence of external shocks, the euro has the potential to grow to 49.00–49.50 UAH/EUR, especially given the structural demand in Ukraine, the transition of many contracts to the euro, and the population’s focus on the new El Dorado, which may bring an exchange rate premium and justify expectations for long-term growth in savings.
• Long term (6+ months): The euro retains its potential for further strengthening, especially in the context of a global restructuring of currency priorities and the internal reorientation of Ukrainian business. However, volatility will remain high, so it is recommended to constantly monitor the share of this currency in portfolios. Given the combination of many factors of uncertainty, we are not publishing a long-term forecast for the euro exchange rate.
Recommendations for businesses and investors
The first half of June shows continued stability in the currency market in the dollar segment and a return to wave-like dynamics in the euro/hryvnia pair. All this is happening against the backdrop of gradual currency liberalization in Ukraine and a new phase of global investor confidence shifting between the dollar and the euro. In such an environment, currency strategy should remain flexible, adaptable, and calculated for several different scenarios.
Liquidity is paramount. All currency assets should be held in instruments that allow for quick response. Term deposits, bonds without early exit options, or pegs to a single currency are potential traps. In the coming months, the focus should be on preserving the ability to maneuver quickly rather than on returns.
The euro — rapid growth has given way to cautious turbulence. After a noticeable jump in June, the market has already factored in most of the news and events significant for the eurozone. If you need to reformat the share of this currency in your portfolio, it is better to do so gradually as spreads narrow.
The dollar remains an important element of protection. Current stability does not mean that the dollar has lost its functions and appeal. On the contrary, in the medium and long term, it is worth keeping it in your portfolio: in the fall or winter, a devaluation trend is likely for the hryvnia, which will reward patient dollar holders with strong nerves.
Spreads are the main marker for decisions. If spreads are stable in the USD/UAH pair, they are widening again in the EUR/UAH pair. This indicates a return of nervousness and uncertainty: when operators build additional margins into the exchange rate, it is a signal not to rush. When the spread narrows, it is time to analyze the entry point.
Fixed currency benchmarks are prohibited. The exchange rate predictability of recent weeks is not a basis for routine actions or excessive optimism. Continue to work with 3–4 exchange rate scenarios and test how your asset structure will perform under each of them.
Hryvnia — do not hold more than necessary. It is stable for now, but excessive accumulation of hryvnia creates risks. Hryvnia holdings in excess of operating reserves should be converted into any of the reliable currencies or instruments pegged to them.
Currency liberalization is more of a signal than a call to action. The NBU’s signals about easing restrictions are important, but so far this is more of a symbolic step. The real effect will be noticeable closer to the fall. Investors and businesses should not only monitor liberalization steps but also bear in mind the possibility of the regulator reversing its actions if the exchange rate scenario forces it to return to restrictions. It may be worth considering switching to currency instruments that are least dependent on government actions, such as cash or stablecoins based on reliable currencies.
This material has been prepared by the company’s analysts and reflects their expert, analytical, and professional judgment. The information presented in this review is for informational purposes only and should not be construed as a recommendation for action.
The company and its analysts make no representations and assume no responsibility for any consequences arising from the use of this information.
All information is provided “as is,” without any additional guarantees of completeness, commitment to timeliness, or updates or additions. Users of this material should independently assess the risks and make informed decisions based on their own assessment and analysis of the situation from various available sources that they themselves consider sufficiently qualified.
Before making any investment decisions, we recommend consulting with an independent financial advisor.
REFERENCE
KYT Group is an international multi-service FinTech company that has been successfully operating in the non-bank financial services market for 16 years. One of the company’s flagship activities is currency exchange. KYT Group is one of the largest operators in this segment of the Ukrainian financial market, is included in the list of the largest taxpayers, and is one of the industry leaders in terms of asset growth and equity capital.
More than 90 branches in 16 major cities of Ukraine are located in convenient locations for customers and are equipped with modern equipment for the convenience, security, and confidentiality of each transaction.
The company’s activities comply with the regulatory requirements of the National Bank of Ukraine. KYT Group adheres to EU standards of operation, with branches in Poland and plans for cross-border expansion into other European countries.
The Antimonopoly Committee of Ukraine (AMCU) has granted permission to Cliff Capital Growth Aif V.C.I.C. Ltd, a Cyprus-based company affiliated with the Kovalskaya Group, to acquire control over Unit B04 LLC. The relevant decision was made by the committee on June 12.
“The company has indeed received permission from the AMCU to acquire a stake in Unit B04 with the aim of establishing full corporate control over the facility, in accordance with preliminary agreements with partners,” the group’s press service told Interfax-Ukraine on Friday.
A similar deal was already implemented in early 2025, when Kovalskaya gained 100% control over the Unit B06 facility, the group added. Construction of these facilities was completed in 2023 and 2024.
“Work is currently underway on the interior finishing of the premises,” the press service added.
As reported, the Kovalskaya group planned to invest $70 million in the construction of five business centers in Unit.City – B01, B02, B03, B04, B06.
The investment fund Cliff Capital Growth is managed by Guardo Assets Management, which also manages the funds Aksioma, A Realty, AC Real, and Vingis.
The Kovalskaya industrial and construction group has been operating in the Ukrainian construction market since 1956. It unites more than 20 enterprises in the fields of raw materials extraction, manufacturing, and construction. Its products are sold under the brands Beton ot Kovalskaya, Avenue, and Siltek. Kovalskaya’s enterprises operate in the Kiev, Zhytomyr, Lviv, and Chernihiv regions. The aerated concrete plant in the Kherson region has not been operating since the beginning of the occupation.
The group also includes Kovalskaya Real Estate, which is engaged in the construction of residential properties in Kyiv. Its portfolio includes more than 20 completed residential projects.
Last Friday, June 6, the international agricultural forum Agro Ukraine Summit was held in Kyiv for the second year in a row.
The agricultural sector is the driving force of Ukraine’s economy, and the summit is an important platform for exchanging ideas, analyzing challenges, and developing strategies to increase productivity, sustainable development, and international trade in agricultural products with a focus on European integration.
This year’s summit was prepared as a large-scale event on the Ukrainian market with the broad involvement of European partners, international organizations, and companies with the aim of not only bringing together all key stakeholders in the agricultural and food sectors, but also creating a dynamic platform for inclusive national dialogue, cooperation, and growth.
One of the key achievements of the event was that, together with ProAgro Group, leading agricultural associations of Ukraine joined the organization, including the Ukrainian Grain Association, the Ukrainian Agribusiness Club, the All-Ukrainian Agrarian Council, the Ukrainian Agrarian Confederation, the Ukrkharcheprom industry association, the Ukrainian Bean and Soybean Association, the Ukrainian Dairy Association, the All-Ukrainian Farmers’ Congress, as well as Aggeek, Ukraine Facility Platform, the Solar Energy Association, and the Ukrainian-European Business Hub. Preparing for such a large-scale event really required the involvement of a large number of specialized organizations, which demonstrated through their example that the combined efforts of experts can yield remarkable results.
In addition, the summit was held with the active support of the Ministry of Agrarian Policy and Food of Ukraine. The event was attended by Minister Vitaliy Koval and his deputies, as well as the heads and specialists of the ministry’s leading departments, who took an active part in the discussions and debates. And the former acting Minister of Agrarian Policy, Doctor of Agricultural Sciences Olga Trofimtseva, not only headed the summit’s program committee, but also became its co-host and moderator of several discussion panels.
The night of June 6 in Ukraine was once again restless due to massive attacks by Russian forces. The capital was again under fire, and in the morning, Kyiv residents and visitors to the city faced serious logistical problems, which prevented some participants of the Agro Ukraine Summit from arriving on time for its opening. However, the vast majority eventually made it to the Parkovy Exhibition Center, where the event was held, and within an hour more than 2,000 people had registered—a record number for an agricultural event in the country, not only during the war but also in peacetime.
The summit began with the Ukrainian national anthem, which is our unbreakable tradition, designed to show who we are, what country is in our hearts, and for whose prosperity we live, work, and fight. This was followed by a minute of silence to honor those who died in the war with Russian occupiers—this tribute to their memory has also become a tradition.
Oleg Klymenko, director of ProAgro Group, addressed the participants and guests of the Agro Ukraine Summit with a welcoming speech. Olga Trofimtseva officially opened the summit, emphasizing that the agricultural sector is the driving force of Ukraine’s economy and that the summit is an important platform for exchanging ideas, analyzing challenges, and developing strategies to improve the efficiency and sustainable development of Ukrainian agriculture as a guarantor of food security for the country and the world.
Pierre Bascu, Deputy Director-General of the European Commission’s Directorate-General for Agriculture, sent his best wishes for fruitful work to the summit participants from Brussels. He emphasized the EU government’s unwavering support for Ukraine and its readiness to provide maximum assistance to Ukrainian agricultural producers on their path to European integration.
In addition to the main conference, summit participants had the opportunity to attend five industry conferences that ran throughout the day:
Due to the large number of conferences, we are unable to cover each one in a single publication, otherwise it would be a very long article. To summarize, each conference featured 6-7 thematic panels with over 140 speakers, each of whom spoke about the most important issues in their field, discussed with the audience, and answered questions from moderators and participants. You can watch recordings of all the speakers’ presentations on the official YouTube page of Proagro Information Company.
However, we will still focus on the main topic of the Agro Ukraine Summit. It was unintentional, but the summit took place on the second day after the expiry of the EU’s autonomous trade preferences with Ukraine. At the same time, agricultural products are one of Ukraine’s main exports, and thanks to the preferences introduced by the European Commission at the beginning of Russia’s full-scale invasion, agricultural exports to the EU have accounted for more than half of Ukraine’s total agricultural exports in recent years.
Is there life after the ATM, when exports to the EU will return to pre-war rules, along with their duties and quotas on a number of Ukrainian goods? This question was answered by Minister of Agrarian Policy Vitaliy Koval and his first deputy Taras Vysotsky, Deputy Minister of Economy of Ukraine, Trade Representative of Ukraine Taras Kachka, Advisor to the Deputy Prime Minister for European and Euro-Atlantic Integration Olena Sotnyk, and the aforementioned representative of the EC Directorate-General for Agriculture Pierre Bascu. Arno Peti, Executive Director of the International Grains Council, Iliana Axiotia, Secretary General of the European Association of Agricultural Producers COCERAL, Mykola Gorbachev, President of the UGA, and Nazar Bobytsky, Head of the European Office of the UCA, also spoke on this issue.
Vitaliy Koval managed to partially calm the situation by announcing that work under the previous trade rules, already dubbed 7/12, would continue until the end of July. By that time, negotiations between the Ukrainian delegation and representatives of the European Commission should be completed, resulting in updated trade rules between Ukraine and the EU within the framework of the Association Agreement. They will not be as liberal as the ATM, but the Ukrainian side is currently making every effort to ensure that they are as fair as possible for Ukraine as an official candidate for EU membership and as a country waging a brutal war, defending not only itself but also the entire eastern flank of the European Union.
In a short interview at the Agro Ukraine Summit, Vitaliy Koval also answered several other questions, including those asked from the conference hall. One participant asked what the minister’s most ambitious goal for 2025 was. “My main goal is to lead Ukraine past the point of no return from a raw materials-based economy to an agro-industrial state and to see January 1, 2026, in a peaceful country where farmers have contributed to victory no less than anyone else,” he replied.
At each Agro Ukraine Summit conference, and indeed at each panel, there were topical issues, interesting questions, and answers. But perhaps the most were at the Agro Ukraine Expo, which was held as part of the summit and featured more than 110 companies with stands where they showcased their cutting-edge products and services for the agricultural industry, as well as the latest technologies and solutions.
The summit also featured two large lounge areas with comfortable places for networking. At times, it seemed that they were even more crowded than the conference rooms. But this is understandable, since one of the main values and advantages of such events is the opportunity for participants to meet, exchange business contacts, and conduct business negotiations. Therefore, at the Agro Ukraine Summit, we try to facilitate these opportunities as much as possible, including through a relaxed atmosphere, pleasant live music, and delicious refreshments. As one of the summit guests noted, “More contacts mean more contracts.” We couldn’t agree more, which is why we strive to achieve this.
The day of the summit ended on a high note with a performance by the National Academic Orchestra of Folk Instruments of Ukraine, which caused an explosion of emotions with its incredible sound and unique combination of traditional Ukrainian music and the most famous hits of the world stage, as well as an almost hour-long concert by Ukrainian singer Jamala, winner of Eurovision 2016.
It is also worth noting that this year’s Agro Ukraine Summit was the 200th anniversary conference for the organizing company, ProAgro Group. This means that, with over 2,000 participants at this year’s summit, the total number of people who have attended the company’s events over the past 20 years has reached 50,000!
To mark this event and thank all participants, ProAgro Group raffled off a certificate for an exhibition stand at the company’s next events. Five winners of the raffle also received a pass for free admission to all conferences over the next 20 years!
After all the celebrations, the director of ProAgro Group announced that next year’s event will no longer be called Agro Ukraine Summit, but Agro Ukraine Week, a multi-day event that aims to become not only the largest agricultural event in Ukraine, but also one of the leading events in Europe. Incidentally, this idea has already been approved and supported by the Ministry of Agrarian Policy and Food. So, preparations are already underway!
Finally, ProAgro Group would like to express its sincere gratitude to the title partners of this year’s Agro Ukraine Summit – AgriGo, GRECO group, and VITAGRO; general partners – ERIDON and TOKMAK DIESEL; exclusive partners – A. TOM and VOLTAGE, as well as over 100 partner companies.
We would also like to thank all media outlets that became information partners of the Agro Ukraine Summit, led by the general media partner, the TV channel “MY – UKRAINE.” We would like to take this opportunity to congratulate all journalists on their professional holiday, Journalist Day, which was celebrated in parallel with the summit on June 6.
Interfax-Ukraine is an information partner.
