Business news from Ukraine

CABINET APPROVES COMMUNICATION STRATEGY OF EUROPEAN INTEGRATION FOR 2018-2021

KYIV. Oct 25 (Interfax-Ukraine) – The Cabinet of Ministers of Ukraine has approved the communication strategy in the field of European integration for 2018-2021.
The corresponding decision was made at a government meeting on Wednesday, an Interfax-Ukraine correspondent reported.
To monitor and coordinate the implementation of the strategy, a consultative body is being set up – a coordinating council for the implementation of the strategy headed by Deputy Prime Minister for European and Euro-Atlantic Integration Ivanna Klympush-Tsintsadze.
The result of the implementation of the strategy should be the conscious support by wide segments of Ukraine’s population of European integration as the implementation of reforms in the country that are oriented toward achieving political stability, developing democracy, respect for the rule of law, and increasing support for Ukraine’s accession to the EU.

UKRAINE STARTS EIGHTH ROUND OF TALKS ON FTA WITH TURKEY

KYIV. Oct 25 (Interfax-Ukraine) – Ukraine has started the eighth round of negotiations on the signing of the free trade agreement (FTA) with Turkey, Deputy Minister of Economic Development and Trade, Ukraine’s trade representative Natalia Mykolska has said on her Facebook page.
“During the recent visit of President Erdogan [Turkish President Recep Tayyip Erdogan] to Ukraine special attention was paid to the increase of trade and intensification of the negotiations,” she wrote.
As reported, the FTA with Canada took effect on August 1, 2017.
Earlier representatives of the government said that the next FTA Ukraine could sign with Israel.

PALLADA PLANT COMPLETES BUILDING NEW DOCKAGE FACILITY FOR 7,100 TONNES FOR CYPRIOT CUSTOMER

KYIV. Oct 24 (Interfax-Ukraine) – Kherson State Plant Pallada has completed building the new Ereneos composite dockage facility with a capacity of 7,100 tonnes on the order of Cypriot Multimarine Shipyards Ltd.
The plant told Interfax-Ukraine the enterprise had already completed testing the facility, its transfer to the customer is being prepared.
“Despite difficult weather conditions, during the testing all previously declared characteristics of the floating dock have been confirmed by the representatives of the owner and the American Bureau of Shipping (ABS). At present the classification of the dock at the ABS is being completed, after which it will be handed over to the customer,” the plant said.
He said after the transfer to the customer, the floating dock will be towed to Cyprus, where it will begin work in the port of Limassol.
Pallada plant is the only shipbuilding company in the world specializing in building the next generation composite floating docks for civil and navy fleet. The warranty period of operation of the equipment is 50 years.
Among the customers of the company are Japan, South Korea, Finland, Bulgaria, Turkey, Algeria, Croatia, France, and the Republic of South Africa.
Pallada has been part of Ukroboronprom state concern under the decision of the government of Ukraine since April 2011.

SOME 154 MORE UKRAINIAN GOODS ARE EXPORTED TO CANADA – UKRAINE’S TRADE REPRESENTATIVE

KYIV. Oct 24 (Interfax-Ukraine) – Some 154 new commodity items have been added to the list of exports to Canada, including special vehicles for $3 million, copper bars and profiles for $2.9 million and turbojets for $1 million, Deputy Minister of Economic Development and Trade, Ukraine’s trade representative Natalia Mykolska has reported.
“The largest growth was in non-raw materials. The rise concerns such positions as devices on rare crystals, sound electrical equipment, flour, equipment for processing rubber and plastic, equipment using X-rays, printing equipment. As for agricultural products, they include juice, honey, and sunflower oil. That means that positions with high added value are growing,” she said.
She added in monetary terms the new 154 export positions make up $10.2 million in total exports. In general, for the eight months exports of goods to Canada increased by 70.9%, or by $12.9 million compared to January-August 2016, to $31.2 million.
Canadian Ambassador to Ukraine Roman Waschuk noted exports in the new niche segments are growing most significantly, and in some of them the growth reaches 500% to 8,000%.
“Such figures mean that the new niches, previously unoccupied, are being occupied. The matter concerns energy equipment and agricultural machinery. Experience shows the increase in exports occurs initially at the expense of filling new niches and only then moves to the expansion of already existing export sectors,” he said.

LATVIAN RAILWAYS READY TO LEASE FREE LOCOMOTIVES TO UKRAINE

KYIV. Oct 24 (Interfax-Ukraine) – Latvian Railways is ready to lease some of unused locomotives to Ukraine.
According to an Interfax-Ukraine correspondent, such an initiative was announced by the director of production at the company at the international conference “Carriage Building and Rolling Stock Repairs” in Kyiv.
“We have free locomotives due to the fact that our carriers use more locomotives with a capacity of 6,000 hp. As we, the rolling stock service, are the owners of this rolling stock, I think we could lease them to Ukraine until you solve your problem with traction, we are ready,” he said.
Earlier Ukraine has repeatedly announced the problem of shortage of rolling stock and its critical wear and tear.

CONSTRUCTION OF CARGILL AND MV CARGO GRAIN TERMINAL WILL BE COMPLETED IN SPRING 2018

KYIV. Oct 24 (Interfax-Ukraine) – The construction of a grain terminal of Cargill and MV Cargo with a capacity of 5 million tonnes of grain a year in Yuzhny port, whose cost is estimated at $150 million, has reached the middle and will be fully completed in spring 2018, MV Cargo has told Interfax-Ukraine.
The company noted both stages of work are half completed: dredging at the future berth, which is carried out by China’s CHEC Corporation on the order of the Ukrainian Sea Ports Authority, and the construction of the ground part.
According to CHEC, it is ahead of schedule by more than 25%: some 2 million cubic meters of soil has been pulled out and now grab dredgers are working the in water area, which pull out an average of 20,000 cubic meters per day from the bottom.
MV Cargo said two covered warehouses with a capacity of 80,000 tonnes and 14 silos with a total capacity of 210,000 tonnes are currently being built on a site of 28 hectares.
As reported, Cargill (the United States), the Ukrainian Sea Ports Authority and MV Cargo in August 2015 signed a tripartite memorandum of intent to implement the investment project in Yuzhny port. Its launch was preliminarily scheduled for 2017.