Ukraine and Turkey are considering the meeting of the Strategic Council between Ukraine and Turkey co-chaired by both presidents in February 2022 as an opportunity to sign a free trade agreement (FTA), Ukrainian Foreign Minister Dmytro Kuleba has said.
“Next year, Ukraine and Turkey will celebrate 30 years since the establishment of diplomatic relations between the two countries. To mark this occasion, we plan to hold the next session of the Strategic Council between Ukraine and Turkey under the co-chairmanship of both presidents. A number of agreements and documents are currently being prepared ahead of next year’s Strategic Council. Both sides see the February 2022 meeting as an opportunity to finally sign a long-awaited Turkish-Ukrainian free trade agreement following years of negotiations,” Kuleba wrote in an article for the Atlantic Council released on Thursday.
Once in force, he said, this free trade deal will significantly boost already strong trade ties between the two Black Sea countries and facilitate the establishment of new business links.
“With bilateral trade steadily growing, we also plan to hold a joint intergovernmental trade and economic commission in the near future,” Kuleba said.
The Ukrainian Foreign Minister also said that Ukraine and Turkey are developing plans to unite forces in the production of Ukrainian Antonov aircraft.
“Our Turkish friends were very impressed with the capabilities of Ukrainian Antonov aircraft for extinguishing fires. During the last meeting with my Turkish counterpart Mevlut Cavusoglu in Lviv in October 2021, he expressed Turkey’s interest in Antonov aircraft. Ukraine welcomes this interest and is ready to explore the possibilities of joint aircraft production Antonov and international exports,” the minister said.
Kuleba said that with the climate crisis escalating, the threat of wildfires in Turkey and dozens of other countries around the globe looks like it is here to stay, along with increased demand for firefighting aviation.
“This makes the proposed aviation industry cooperation between Turkey and Ukraine strategically appealing. We plan to discuss this topic in more depth during our next Quadriga meeting of foreign and defense ministers, which will take place in December 2021 in Ankara,” he said.
Ukraine and Egypt will hold the Intergovernmental Joint Commission on Economic and Scientific and Technical Cooperation in Cairo on December 14 to December 16, the Economy Ministry said on the website, following the meeting of Deputy Economy Minister, Trade Representative of Ukraine Taras Kachka with Egyptian Ambassador to Ukraine Ayman Elgammal.
“We are currently conducting a study on the possibility of concluding an agreement on a free trade area with Egypt. Ukraine is interested in increasing the supply of agricultural and food products, vehicles, electrical equipment, engineering products,” the ministry’s press service said, citing Kachka.
He said that Egypt occupies a leading position among the countries of Africa and the Arab world in terms of trade with Ukraine. According to the results within the period of January-August 2021, trade between the countries amounted to $1.044 billion, for the entire last year to $1.7 billion.
According to the Ukrainian side, a major project of the Egyptian government, namely the construction of the new capital Vedian is interesting concerning the possibility of participation of Ukrainian business.
Entrepreneur Vasyl Khmelnytsky, as a loan guarantee, indirectly owns 20% of shares in the European company TKB Pacific Worldwide, which in turn owns 25% in Russia’s INK-NefteGasGeologiya, but plans to withdraw from shareholders by the end of 2022 after full repayment of the loan.
“I’m not doing business in Russia and have not invested in the acquisition of shares of Irkutsk Oil Company (INK),” Khmelnytsky commented to Interfax-Ukraine on the publication of the Russian edition of Forbes that he could be a co-owner of several INK assets.
The Ukrainian businessman explained that he has known the owner of TKB Pacific Worldwide for 35 years (according to Forbes, 80% of the company belongs to Russian woman Arina Nikolaeva).
“The securities are registered for me with the right to buy back. At the moment, most of the loan has already been repaid. I do not take part in operating activities and management. I do not receive dividends from activities,” Khmelnytsky stressed.
He clarified that in 2017, TKB Pacific Worldwide exercised an option to purchase a 25% stake in subsidiary INK-NefteGasGeologiya, whose oil production does not exceed 2% of INK’s total oil production.
“I have nothing to do with this transaction and do not receive income from the securities of the Russian company,” the Ukrainian businessman said.
The Russian edition indicated that INK-NefteGasGeologiya holds licenses for the Ayan block and the Ayan gas field.
Khmelnytsky in October 2017 united his business projects and social initiatives under the brand UFuture Investment Group (Brussels). UFuture is a holding company with a diversified portfolio of assets in real estate, infrastructure, industry, renewable energy, pharmaceuticals and IT. UFuture’s assets are estimated at $ 550 million. The total capitalization of the businesses in which it has invested exceeds $ 1 billion.
The Regional Gas Company (RGC) plans to connect the first biomethane plant to gas distribution networks in the middle of next year, after the heating season, Director of RGC Strategic Planning Department Stanislav Kazda said in a commentary to the Green Deal portal on the sidelines of the Ukrainian Gas Forum.
“We want to be ready to connect the plant by the middle of next year. We do not yet know which biomethane plant to choose out of the ten considered. There are a lot of technical issues and financial constraints, but I am sure that at least one of them we can connect. Technically, this is possible after the end of the heating season,” Kazda said.
As reported, in May, the Regional Gas Company (RGC) and the Bioenergy Association of Ukraine (BAU) signed a memorandum of understanding and cooperation to synchronize the processes of redesigning gas distribution infrastructure and biomethane production. In August, gas distribution network operators operating under the RGC brand in three regions received proposals and technical parameters from BAU for connecting biomethane plants to gas distribution networks as part of a pilot project.
Ukraine and Switzerland have agreed on mutual recognition of COVID-19 vaccination certificates, Ukrainian Foreign Minister Dmytro Kuleba has said.
“I am also pleased to announce that we have agreed to recognize COVID-19 vaccination certificates for free and safe travel of citizens and businesses,” Kuleba said at a press conference following talks with Federal Adviser, Vice President and Chairman of the Federal Department of Foreign Affairs of the Swiss Confederation Ignazio Cassis in Kyiv on Thursday.
“The exchange of notes has already taken place, and I invite all citizens to the website of the Ministry of Foreign Affairs tripadvisor.mfa.gov.ua, where you will see updated information on the conditions of travel to Switzerland,” the head of the Ukrainian Foreign Ministry added.
The Ukrainian Foreign Minister stressed that the mutual recognition of certificates is a very important step. “First of all, this is a step of trust that exists between our countries,” Kuleba added.
DYNAMICS OF BALANCE OF PAYMENTS OF UKRAINE (USD MLN)
