In the first three quarters of 2024, Ukraine exported 12.6 thousand tons of frozen cattle meat, which is 20.3% less than in the same period last year.
This is evidenced by the data of the State Customs Service.
Revenue from exports of these products decreased by 18.9% compared to January-September 2023 – to $50.9 million.
Azerbaijan (37%), China (27.8%) and Uzbekistan (9.7%) bought the most Ukrainian frozen cattle meat during the first nine months of 2024.
China has lifted all restrictions on foreign investors’ access to the country’s manufacturing industry, a landmark move for the world’s second-largest economy, Xinhua news agency reports. On Friday, a new list of sectors of the economy prohibited for foreign investment came into effect, and the last two items related to manufacturing were removed from it. The number of “closed” industries was reduced to 29.
The new document suggests that China’s manufacturing industry has reached a world-leading level of openness. Almost all developing countries impose restrictions on foreign investment in this sector, and even some developed countries continue to maintain certain restrictions, according to experts from the National Development and Reform Commission (NDRC).
In 2010, the volume of value added in China’s manufacturing industry exceeded that of the United States for the first time. In 2023, it accounted for approximately 30% of the global total, allowing the country to remain the world’s largest producer for 14 consecutive years.
In recent years, China has seen a steady increase in foreign direct investment (FDI) in high-tech manufacturing. In January-September of this year, the volume of actually utilized foreign investment increased by 57.3% and 29.2% year-on-year in the medical equipment and instrumentation industries, as well as in the computer and office equipment sector.
Ukraine and China are working to open the Chinese market for Ukrainian peas, poultry, corn, and fish products, the press service of the State Service for Food Safety and Consumer Protection reports.
“China is an important market for national exporters of agricultural products, so on behalf of the head of the State Service of Ukraine for Food Safety and Consumer Protection, Serhiy Tkachuk, the service and the competent authority of China continue to interact on a regular basis. Our goal is to open seven new markets. This is a long process of coordination, but step by step we are succeeding,” said Oleh Osiyan, First Deputy Head of the State Consumer Service, at a meeting with representatives of the General Administration of Customs of the People’s Republic of China (GACC).
The parties discussed draft bilateral international agreements on the export of peas, wheat flour, pet food, beef, corn, poultry, and wild-caught aquatic products from Ukraine to China. Each of these documents is at a different stage of development and approval.
“Currently, the protocol on peas is at the stage of finalizing domestic approval in Ukraine, and the texts have been sent to the competent authority of China for consideration. This is one of the markets that is at the final stage of opening. After the signing of the bilateral protocol, new opportunities for pea exports will open up for Ukrainian agricultural businesses,” said Vadym Chaikovskyi, Deputy Head of the State Service of Ukraine for Food Safety and Consumer Protection and Chief State Phytosanitary Inspector of Ukraine.
It should be reminded that the last Ukrainian product to be granted access to the Chinese market was honey. The form of the health certificate for its export was agreed upon earlier this year.
The requirements of the countries of destination for the export of food products of animal and plant origin are published on the official web portal of the State Service of Ukraine on Food Safety and Consumer Protection.
“Currently, our Chinese colleagues are considering draft protocols on the export of poultry and fish. The State Service of Ukraine on Food Safety and Consumer Protection sent its proposals on the text of the protocol in the fall. The protocol on wild-caught aquatic products has already passed domestic approval and is at the stage of final approval by the Chinese side. The texts of the protocols on beef and pet food are also undergoing the stage of internal approval,” said Volodymyr Kusturov, Deputy Head of the State Service of Ukraine for Food Safety and Consumer Protection and Chief State Veterinary Inspector of Ukraine.
Representatives of the State Food and Consumer Service and the GACC discussed in detail the steps for further cooperation, draft bilateral agreements, and agreed to continue active cooperation on the development of international trade between Ukraine and China.
China has approved a list of investment projects worth a total of 200 billion yuan ($28 billion) planned for next year, a spokesman for China’s State Committee for Development and Reform told Xinhua news agency.
He said there are 647 projects on the list, which covers such areas as construction of urban underground pipelines, programs to support the needy through employment, strengthening emergency water reservoirs, environmental protection and restoration, transportation infrastructure, key public infrastructure including educational, medical and cultural institutions, and key agricultural storage facilities.
The department intends to promote the launch and implementation of the projects as soon as possible and make efforts to make practical progress in their implementation as early as this year, so as to provide strong support for economic growth in the fourth quarter.
In addition, a representative of the state committee noted that there is a strong enough foundation to achieve the country’s 2024 economic growth targets of about 5%.
As reported, China’s GDP grew by 4.8% in January-September. Last year, the economy grew by 5.2%.
The Interdepartmental Commission on International Trade (ICIT) has imposed provisional anti-dumping duties on imports of radiators originating in Turkey and China in the amount of 41.86% and 42% respectively.
According to the ICIT’s announcement in the Uryadovy Courier newspaper on Friday, the decision comes into force five days after the date of publication of the announcement.
The announcement recalls that the anti-dumping investigation was initiated by the ICIT decision of 12 April 2024 based on the complaint of Ukrainian producers Sun Tech Paradise LLC and UTERM Ukraine LLC, whose share in the overall proceedings in Ukraine exceeds 50%.
The ICMT found that during the study period (January 1, 2023 – March 31, 2024), the financial and economic indicators of the national producer deteriorated, in particular, the volume of production – by 74.56%, production capacity – by 13.75%, capacity utilization – by 70.5%, and the volume of sales in the Ukrainian market – by 40.97%.
In addition, the financial result from the sale of goods deteriorated by 1606.24%, labor productivity by 59.47%, and the volume of investments in dollar terms by 78.69%.
The Commission also points out that in the first quarter of 2024, the volume of imports of radiators from Turkey and China increased by 157.13% compared to the same period in 2023 and by 21.9% compared to the first quarter of 2021.
The ICIT report also notes that the losses to the national producer from dumped imports of radiators from Turkey and China are confirmed by the fact that the volume of imports from these countries during the study period increased by 31.27% in terms of consumption of such goods in Ukraine and by 173.29% in terms of production.
The anti-dumping measures are applied to heating radiators (steel, aluminum, bimetallic) (excluding towel rails, water floor convectors and designer radiators) classified under UKT VED codes ex 7322 19 00 00, ex 7616 99 10 00, ex 7616 99 90 00.
San Tech Paradise LLC (Odesa region) manufactures plumbing products for heating, water supply, and sewage. According to its website, it has two factories in Ukraine (130 thousand square meters of production space) and produces 20 thousand tons of products per year. The company exports its products to Poland, Romania, Lithuania, Bulgaria, Georgia, and Mongolia, among others.
According to Opendatabot, in 2023, the company reduced its net profit by 40% compared to 2022, to UAH 61.2 million, while net revenue increased by 15.3% to UAH 552.2 million.
The company is owned by Andriy Kovalenko and Oleksandr Bozhko (50% each).
“UTERM Ukraine (Bila Tserkva, Kyiv region) has been operating in the steel panel radiator market since 2013.
According to Opendatabot, in 2023, the company earned UAH 6.7 million in net profit, compared to UAH 0.4 million a year earlier, with net revenue falling by 48.6% to UAH 124.3 million. The company is owned by four entrepreneurs with equal shares of 25% each.
The Ministry of Commerce of China confirmed the intention to increase duties on imports of cars with large engines. Earlier it became known that Beijing is considering such a possibility along with additional restrictions on supplies of whiskey from Europe to the country.
The representative of the Chinese Ministry of Commerce He Yadong said during a press conference on Thursday that there are significant differences between China and the EU regarding the recent decision of the European Commission to impose additional duties on imports of Chinese electric cars to Europe. Beijing has invited EU representatives to visit China for further talks, he said.
According to He Yadong, the Ministry of Commerce is considering the possibility of increasing duties on imports of high-volume gasoline-powered cars into China and will make a decision after studying relevant factors.
If Beijing makes such a decision, German automakers will be the most seriously affected, said Dongshu Cui, president of the China Passenger Car Association (CPCA).
Total imports of cars with engines larger than 2.5 liters from the EU fell 13% to $10.2 billion in the first eight months of this year, CPCA data showed.
