The Verkhovna Rada has ratified the agreement between the governments of Ukraine and the Republic of Turkey on mutual assistance and investment protection, which provides Ukrainian and Turkish investors with assistance in use of investments, as well as secures guarantees against illegal expropriation and nationalization. Some 244 people’s deputies supported the corresponding bill with the quorum being 226 votes.
According to the website of the Ministry of Economic Development and Trade, the agreement also provides for the free transfer of payments and the application of internationally recognized dispute settlement procedures.
In addition, the parliament ratified the trade agreement between Ukraine and the Kingdom of Thailand.
The corresponding bill, providing for the creation of a special intergovernmental commission on trade, was supported by 241 people’s deputies.
One troy ounce=31.10 grams
JSC Ukrgazvydobuvannia has discovered the third new field in Kharkiv region this year. The press service of the company reported that at the exploration stage the reserves total at least 0.375 billion cubic meters and the prospective resources are estimated at around 1 billion cubic meters. The field was discovered in August 2018 after the completion of drilling a wildcat well started after a seismic survey under a deposit use license issued in 2014.
Today the well is being developed and test production is started. The company continues exploration work at the new field.
Ukrgazvydobuvannia recalled that in May and June 2018 the company discovered two new fields in Kharkiv region on land parcels with mineral resources the licenses for which were received before 2017. Some issues regarding the issue of licenses for new land parcels are still unsettled. According to the government gas production boosting program, the company will receive 15-20 licenses for new land parcels every year to explore and discover new fields.
As reported, the strategy of the company until 2020 envisaged the increase in gas production from 14.5 billion cubic meters in 2015 and 2016 to 15.2 billion cubic meters in 2017, 16.5 billion cubic meters in 2018, 18.3 billion cubic meters in 2019, and 20.1 billion cubic meters in 2020. Ukrgazvydobuvannia, fully owned by Naftogaz Ukrainy, is the country’s largest gas producer, which provides about 75% of the total gas production in the country.
Ukraine’s consulate general has opened in Edmonton, the capital of the Canadian province of Alberta, the press service of the Ukrainian Foreign Ministry reported on Saturday. According to the report, Ukrainian Foreign Minister Pavlo Klimkin took part in the ceremonial events on the occasion of the opening of the consulate.
“This is a landmark event, through which Ukraine recognizes the special role played by the Ukrainian community in the west of Canada and which opens the door for trade and investment contacts,” Klimkin said after a ribbon cutting ceremony.
The province of Alberta is home to more than 350,000 Canadians of Ukrainian descent. The new consulate general of Ukraine will also service other provinces of Western Canada – Saskatchewan, British Columbia, as well as Yukon and the Northwest Territories.
“This is a pragmatic decision. It is based on geography and on the powerful business potential in Alberta. This is also an emotional decision – we are repaying the debt to the Ukrainians of Prairies who, for generations, built Canada, preserving the dream of an independent Ukraine,” Ukrainian Ambassador to Canada Andriy Shevchenko said.
According to the Ukrainian Foreign Ministry, the consulate general in Edmonton became the first consulate opened by Ukraine after the beginning of Russian aggression. Prior to that, Ukraine had the embassy in Ottawa and the consulate in Toronto.
Ukrainian metal companies saw a growth of 27.7% in foreign currency revenues from exports of ferrous metals in January-August 2018 year-over-year, to $7.001 billion. According to customs statistics published by the State Fiscal Service, the share of ferrous metals of total income from exports was 22.65% compared to 19.93% from a year ago.
In August 2018 alone, receipts from ferrous metal exports amounted to $803.263 million.
In January-August 2018, Ukraine increased imports of similar products by 25.7%, to $896.765 million including imports reaching $144.565 million in August. In January-August 2018, Ukraine increased metal products exports by 32%, to $729.444 million including August deliveries being $91.404 million. During this period, imports of metal products grew by 19.9%, to $598.239 million, including August imports worth $94.603 million.
As reported, in 2017 Ukraine saw its forex earnings from ferrous metal exports rise by 20%, to $8.666 billion. Ukraine saw imports of these products increase by 42%, to $1.135 billion. Ukraine experienced a 30% rise in metal products exports, up to $896.7 million. Metal imports grew by 25% last year, to $806.8 million.
