Latvia will resume the work of the Investment and Development Agency (LIAA) in Ukraine in 2020 after a three-year break, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Dmytro Kuleba has said following a meeting with Minister of Economics of the Republic of Latvia Ralfs Nemiro, according to the government’s press service.
“The office of the Latvian Investment and Development Agency in Kyiv will promote a daily dialogue between Ukrainian and Lithuanian businesses and will provide a strong impetus to the development of bilateral investment cooperation. The resuming of office’s work after a three-year break is a clear message that foreign investors see positive changes in Ukraine. There will be more investment and more trade with our friend and EU member Latvia,” Kuleba said.
Nemiro reported that the office would resume its work next year after the completion of technical procedures.
The ministers also agreed to reform the work of the Ukrainian-Latvian Intergovernmental Commission on Economic, Industrial, Scientific and Technical Cooperation.
The co-chairs of the Commission agreed that the next meeting would be held in May 2020 in Kyiv. Among the priority issues on the agenda will be digitization, agriculture, pharmaceutical industry and logistics.
Kuleba suggested holding a special business forum in the framework of the Commission’s meeting that would contribute to building connections between Ukrainian and Latvian entrepreneurs.
“Business contracts entail international contacts, hence they should not only promote establishing links between governments but also facilitate building more productive relations directly between the entrepreneurs of the two countries,” Kuleba said.
In turn, Nemiro supported the idea of holding such a forum.
As of July 1, 2019, Latvia invested in Ukraine $41.5 million, in particular $9.6 million (23.1%) in professional, scientific and technical activities, $8.2 million (19.6%) in financial and insurance activities, $5.7 million (13.8%) in industry. Ukrainian investment in the Latvian economy over the same period amounted to $72.1 million.
Main trade partners of Ukraine in % from total volume (import from other countries to Ukraine) in Jan-Aug 2019
Main trade partners of Ukraine in % from total volume (export from Ukraine to other countries) in Jan-Sept 2019
Export of butter from Ukraine in January-November of this year decreased by 37.5%, to 17,120 tonnes, in money terms by 37.5%, to $17.12 million. Import of this product, according to the service, rose by 2.5 times, to 2,450 tonnes (for $12.27 million). In January-November, export of milk and cream (condensed) slightly rose to 34,160 tonnes. Ukraine supplied condensed milk and cream for a total of $72.28 million, which is 29% more than in January-November 2018. Imports of this group of goods slightly increased to 2,160 tonnes (for $4.84 million).
Ukraine in January-November 2019 increased export of poultry by 23.4%, to 375,110 tonnes, the State Fiscal Service has reported. According to the service, in monetary terms exports of these products rose by 12.7%, to $531.74 million.
At the same time, import of poultry in January-November 2019 slightly decreased, to 121,100 tonnes, in money terms to $48.2 million.
In addition, according to the service, pork exports in January-November 2019 amounted to 2,050 tonnes compared to 1,650 tonnes for the same period in 2018. These products were delivered for $4.69 million against $3.55 million for the eleven months of 2018.
Pork imports to Ukraine during this period decreased by 16.8%, to 21,920 tonnes. Pork worth $41.85 million was imported to the country compared to $48.12 million in January-November 2018.
Windrose airline has signed the agreement on leasing intentions and plans to expand its fleet with eight new ATR-72-600 aircraft during 2020-2022, the airline’s press service has said. Windrose Airlines has decided to expand its domestic flight program. The airline has determined for itself that operating the ATR-72-600 of the French-Italian manufacturer ATR will be most effective for implementing this program, the airline said.
Windrose said that the first three aircraft ATR-72-600 made in 2016 will be operated in the passenger configuration with 70 seats.
Windrose airline was founded in 2003. In 2007, the airline received the operator certificate and began to operate scheduled and charter flights under the Windrose Airlines brand.
