Business news from Ukraine

Business news from Ukraine

DUDA’S VISIT TO UKRAINE TO BE DEVOTED NOT ONLY TO POLITICS, BUT ALSO TO EXTENSION OF ECONOMIC RELATIONS

Deputy Head of the Office of the President of Ukraine Ihor Zhovkva notes that during the visit of Polish President Andrzej Duda to Ukraine on October 12-13, considerable emphasis will be placed on economic cooperation between the two countries, in particular, in the development of infrastructure.
“The President of Poland will visit not only Kyiv, but together with President Zelensky will visit Odesa, where a separate business event will be held, which will be aimed at infrastructure topics. A number of agreements will be signed, in particular, on our maritime infrastructure,” he said in an interview with the Interfax-Ukraine agency.
Zhovkva pointed out that the topic of Ukrainian-Polish relations is expanding to the sphere of economics. “We are talking not only about politics, about the historical past, which, of course, will be discussed during the visit, but also about our economic relations. After all, Poland is one of our largest partners in Europe in terms of trade,” he said.
The deputy head of the President’s Office recalled that the visit of Polish President Duda to Ukraine was planned in the spring of 2020, and it is very important, because for the first time in the past three years, the President of Poland is visiting Ukraine. In 2017, Duda was in Kharkiv, and he was in Kyiv the last time in 2016.

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U.S. BUSINESSMEN AND FORMER DIPLOMAT HOCHSTEIN LEAVING UKRAINIAN NAFTOGAZ’S SUPERVISORY BOARD

U.S. Businessmen and former diplomat Amos J. Hochstein has notified NJSC Naftogaz Ukrainy that he leaves the company as independent director in the supervisory board of the company and among the reasons behind his decision to leave the supervisory board, Amos Hochstein mentioned growing opposition to gas market reforms and the transformation of Naftogaz into an independent and efficient company, Naftogaz said on Monday.
“Naftogaz faces increasing sabotage from corrupt forces,” Hochstein said in his column in KyivPost publication.

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UKRAINE CUTS IMPORT OF PETROLEUM PRODUCTS IN JAN-SEPT

Ukraine in January-September 2020 imported 5.793 million tonnes of petroleum products (according to foreign trade activity code 2710, petrol, diesel fuel, fuel oil, jet fuel, etc.), which is 4.3% less than in the same period of 2019.
According to the State Fiscal Service, petroleum products were imported in the amount of $2.5 billion, which is 34.6% less than in January-September 2019.
Fuel imports from Russia amounted to $940.081 million (a share of 37.6%), Belarus to $842.578 million (33.7%), Lithuania to $302.246 million (12.09%), from other countries to $415.427 million (16.61%).
In addition, in January-September 2020, Ukraine exported 258,880 tonnes (42.5% less compared to January-September 2019) of petroleum products for a total amount of $105.332 million (51.2% less). The cost of fuel delivered to contractors from Latvia amounted to $20.289 million, Hungary some $10.165 million, Romania some $9.008 million, and from other countries some $65.859 million.

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KYIVSTAR TO LAUNCH OPEN TELECOM PLATFORM FOR INTERACTION WITH IT GROCERY COMPANIES

Kyivstar, the mobile network operator, has announced the launch of the Open Telecom Platform, an online platform for interaction with IT grocery companies, which allows connecting to the operator’s services and using its data sets for product development and testing.
“Tomorrow we will take the first step. We will present a kind of portal of data versions for our potential partners – Open Telecom Platform from Kyivstar. It will give them the opportunity to connect to us, integrate with us and use some of the more popular service options that we are selling right now as a kind of trial version for creating own products, ideas or applications,” Kyivstar President of Alexander Komarov said during the online forum Lviv IT Arena on Friday.
According to him, the available options for using the portal are largely related to the capabilities and data available to Kyivstar as the largest Ukrainian operator.

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PRESIDENTS OF UKRAINE AND POLAND TO MEET IN KIEV ON OCT 12

President of Ukraine Volodymyr Zelensky and President of Poland Andrzej Duda will hold a meeting in Kyiv on October 12, the presidential press service of Ukraine said.
“On October 12, a meeting will take place between President of Ukraine Volodymyr Zelensky and President of the Republic of Poland Andrzej Duda, who will be in Ukraine on an official visit,” the service said in the statement.
According to the presidential website, the official meeting ceremony will take place at Mariyinsky Palace, where the signing of Ukrainian-Polish bilateral documents will also take place.
In addition, on October 13, Zelensky and Duda will visit Odesa, take part in the work of the Ukrainian-Polish economic forum.

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UKRAINE CUTS COPPER IMPORT

Ukrainian enterprises reduced the import of copper and copper products in value terms by 7.4% in January-September 2020 compared to the same period in 2019, to $81.317 million.
According to customs statistics released by the State Customs Service of Ukraine, export of copper and copper products decreased 12.7%, to $55.083 million in the first nine months of 2020.
In September, copper and copper products were imported in the tune of $10.739 million, exported to the tune of $7.397 million.
In addition, Ukraine in January-September reduced the import of nickel and nickel products by 11.8% compared to the same period in 2019, to $55.25 million (in September amounted to $8.149 million), aluminum and aluminum products by 4.3%, to $283.561 million ($34.997 million). At the same time, the import of lead and lead products decreased 42.7%, to $6.05 million ($1.691 million), tin and tin products decreased 39.8%, to $1.713 million ($292,000), zinc and zinc products decreased by 33.6%, to $37.289 million ($5.795 million).
In January-September 2020, export of aluminum and aluminum products increased 0.1% compared with January-September 2019, to $77.049 million (in September amounted to $10.303 million), lead and lead products fell by 6.1%, to $18.007 million ($2.782 million), nickel and nickel products decreased by 49.3%, to $1.966 million ($296,000). Zinc exports in January-September 2020 amounted to $68,000, while in the same period of 2019 amounted to $463,000 ($12,000 in September). The export of tin and tin products in January-September 2020 amounted to $92,000, while in the same period of 2019 amounted to $33,000 (the export amounted to $3,000 in September).

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