Business news from Ukraine

Business news from Ukraine

UKRAINE MEETS UP TO 80% EU STANDARDS IN TRADE AREAS – DEPUTY PM STEFANISHYNA

In the key areas in which trade between Ukraine and the EU takes place, the country meets 70-80% European standards, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Olha Stefanishyna said in an interview with the online edition of Radio Liberty on Saturday.
“In the five main areas in which trade takes place, we meet European standards by 70-80%. This has already been confirmed. Energy sector – 80%. Food and sanitary measures – more than 70%. We fully comply with the system of public procurement and telecommunications. This is means that in the understanding of our European integration, we [Ukraine and the EU] work in the same way and live the same,” Stefanishyna said.
She also said that more than 14,000 Ukrainian companies are already operating in the European market.
Ukraine is also the country that is integrated into European structures. The country is a member of more than 20 EU agencies and institutions from law enforcement (this is the European Public Prosecutor’s Office), ending with scientific and cultural programs.
Therefore, according to Stefanishyna, from the point of view of political, economic convergence, Ukraine has actually achieved tremendous results in five years.

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UNITED KINGDOM RECOGNIZES UKRAINIAN VACCINATION CERTIFICATES

Since October 11, citizens of Ukraine have the right to visit France, who have completed a full course of vaccination with Johnson and Johnson, AstraZeneca, Moderna, Pfizer, R-Pharm, and seven days have passed since the last dose was received (28 days Johnson and Johnson), the State Border Guard Service of Ukraine has said.
According tothe State Border Guard Service’s statement in the Telegram channel on Monday, the United Kingdom has recognized Ukrainian vaccination certificates and from October 11 will accept Ukrainian citizens who have completed a full course by Johnson and Johnson, AstraZeneca, Moderna and Pfizer medicines.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 11/10/21

National bank of Ukraine’s official rates as of 11/10/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF OCTOBER 06

Official rates of banking metals from national bank as of October 06

One troy ounce=31.10 grams

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FERREXPO STARTS COOPERATION WITH RICARDO PLC FROM UK AS PART OF DECARBONIZATION PLANS

Ferrexpo Plc (the U.K.), managing Poltava Mining and Yeristovo Mining in Ukraine, has started cooperation with specialists Ricardo Plc (the U.K.), as part of decarbonization plans by 2050. “The Group undertakes a commitment to achieve net zero carbon emissions from its operations by the year 2050,” the company said in a press release on Monday. In addition, the group undertakes an initial commitment to achieve a minimum of a 30% reduction in combined Scope 1 and 2 emissions by 2030.
According to the press release, Ricardo to also help enhance the group’s existing climate change scenario reporting and review the role of Ferrexpo’s iron ore pellets within the circular economy. Results of Ricardo’s analysis expected to enhance the group’s carbon reduction targets and to further develop climate change reporting in 2022.
Jim North, Interim Group Chief Executive Officer, said that whilst iron ore pellets offer our customers the opportunity to significantly reduce carbon emissions already, it is important to signal a clear intention to decarbonise our own operations.
“It is on this basis that we have adopted the targets announced today, to demonstrate both our focus on climate change and our understanding of the importance of decarbonisation,” North said.
He said that Ferrexpo jointly with Ricardo intends to be a workstream that develops science-based reduction targets and a timeline for the stages of decarbonisation in each aspect of the Ferrexpo business.
“In the 18 months to June 2021, the group has already recorded a carbon reduction in excess of 20%2, which is a demonstration of our commitment to the environment,” North said.
Tim Curtis, Energy & Environment Managing Director at Ricardo Plc, said that Ricardo’s experts have been helping organisations around the world to develop robust and science-based pathways to achieving net zero carbon emissions and they will support Ferrexpo with the development of its decarbonisation targets and providing objective expertise to help realise this ambition.
Ricardo Plc is a world-class environmental, engineering and strategic consulting company.
Ferrexpo is an iron ore company with assets in Ukraine.

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CUSTOMS HEAD: STATE CUSTOMS CONSIDERS IT NECESSARY TO REVISE 2 CRITERIA FOR OBTAINING AEO STATUS

The State Customs Service considers it necessary to revise the coefficients according to two criteria for enterprises-candidates for obtaining the status of an Authorized Economic Operator (AEO), Head of the State Customs Service of Ukraine Pavlo Riabikin has said.
“Today, from our experience, we see that there is a need to revise the coefficients for candidate enterprises in two positions – liquidity and solvency. They can be revised by a government decision without touching the legislation,” he said in an exclusive interview with Interfax-Ukraine.
The head of the State Customs Service added that this issue does not lie in the political plane.
“This is an objective necessity dictated by our financial and economic realities,” Riabikin said.
The AEO status provides the company with significant advantages and simplifications in its work. In particular, the implementation of customs formalities as a matter of priority (for example, an extraordinary registration of customs declarations), a simplified declaration procedure by the customs authority, the use of a specially defined traffic lane at a checkpoint, etc.
“So far, the AEO authorization has been granted to one enterprise [JTI Ukraine]. In total, five applications have been submitted, two applications are at the stage of preliminary consideration, two enterprises have been denied the assessment,” Riabikin said.

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