Business news from Ukraine

Business news from Ukraine

Ukrainian Port of Reni for the first time received a ship with citrus fruits from Egypt

Port of Reni for the first time since the independence of Ukraine has attracted a new cargo flow – citrus fruits from Egypt, which in peacetime went through the larger ports of “Big Odessa”, the Administration of Sea Ports of Ukraine (AMPU) reported on Facebook.

“Last week a refrigerated vessel “ZEINAB”, equipped with enhanced ventilation and refrigeration units for the transportation of perishable goods, arrived at the port of Reni,” AMPU said in a statement.

In particular, 519.9 tons of fruit were delivered from Egypt: 150.3 tons of oranges, 169.4 tons of pomegranates, 31.05 tons of lemons and 169 tons of tangerines.

AMPU specified that citrus fruits were traditionally transshipped by Chornomorsk and Odessa ports.

The leader among them was the port “Chernomorsk”, which transshipped 253 thousand tons of citrus in the last five years: in 2018 – 83.6 thousand tons, in 2019 – 74.1 thousand tons, in 2020 – 43 thousand tons, in 2021 – 35.5 thousand tons and in 2022 – 16.8 thousand tons.

Port “Odessa” during the same period transshipped 134.2 thousand tons of citrus: in 2018 – 45.4 thousand tons, in 2019 – 40.4 thousand tons, in 2020 – 26.5 thousand tons, in 2021 – 14.3 thousand tons and in 2022 – 7.6 thousand tons.

AMPU reminded that now the ports of Greater Odessa work only within the framework of the “grain initiative”, so the cargo owners are forced to seek other ways to deliver citrus to consumers.
Earlier analytical project “Club of Experts” analyzed in detail the trade and economic cooperation between Ukraine and Egypt, see in detail in the video:

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Archaeologists found oldest mummy in Egypt

Archaeologists in Egypt have found a mummy 4.3 thousand years old: in all likelihood, this is the oldest such find ever made in this country and preserved in such good condition.
The mummy was found near the oldest Egyptian pyramid of Djoser (the village of Saqqara, 25 km south of Egypt) at the bottom of a 15-meter deep mine. The head of the archaeological team, former Egyptian antiquities minister Zahi Hawass, told reporters that burials dating back to the V (ca. 2504 to 2347 B.C.) and VI (ca. 2347 to 2216 B.C.) dynasties of ancient Egypt were found here.
“This mummy may be the oldest and most preserved found in Egypt to this day,” he stressed.
The mummy of a man named Hecashepes was placed in a limestone sarcophagus and sealed the lid with mortar.
Another tomb belonged to Khnumdjedef (Khnumdjedef in English), a priest, an “inspector” who supervised officials and aristocrats, and who served under the last pharaoh of the fifth dynasty, Unis (c. 2367 – 2347 BC). His tomb was decorated with scenes of daily life of those long ago times. Another tomb was the resting place of Meri, “keeper of secrets and assistant to the great lord of the palace. Numerous statuettes were also found in the underground crypt.

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Egypt bought 60 thousand tons of Ukrainian corn

Egyptian State Agency for Food Purchasing (GASC) has purchased 60 thousand tons of corn of Ukrainian origin under direct agreement, according to the website of “APK-Inform” agency on Monday.
According to its data, the agricultural products were purchased from the operator Egyptian African Co in two batches of 30 thousand tons each. The price of corn was $323/ton, including corn itself bought at $308/ton on FOB terms (delivery of goods before loading on board the ship), and the freight of the ship cost $15/ton.
Corn delivery to Egypt should take place from the second half of February to the beginning of March 2023.

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Egypt remains one of most favorable trade partners of Ukraine – experts

In the next video YouTube-channel of the analytical center “Club of experts” the prospects of trade and economic relations between Ukraine and Egypt were considered.

As the founder of the Club of Experts Maxim Urakin emphasized, before the war Egypt was the most favorable trade partner for Ukraine, the trade surplus with which amounted to almost 2 billion U.S. dollars. Grain and metallurgical products were the main Ukrainian goods at the Egyptian market.

At the same time, in the first months of the war, the Russian blockade of maritime communications in the Black Sea limited Ukrainian exports to Africa and, above all, to Egypt. The grain agreement improved the situation, but only with regard to agricultural exports. In order not to lose the Egyptian market, the Ukrainian companies have to adapt to the current situation now in order not to make additional efforts after the war.

According to the President of the Ukrainian Exporters Club Eugenia Litvinova, the Ukrainian producers should pay attention to the Egyptian market of dairy products in the first place. In this case, it is necessary to take into account the separation of Egyptian groups of goods for wholesale and retail trade while creating favorable conditions for imports. Also, according to her, the demand in Egypt is for canned and dried fruits, confectionery, chocolate, oils, fats, mineral water, as well as crockery, various cutlery, baths, showers, sinks, building materials and other goods for the retail trade.

“I want to draw attention to the fact that all Ukrainian exporters who want to trade with Egypt, must be registered in the general administration to control exports and imports. After that it is possible to establish logistics through rail and road ways, taking into account the temporary inaccessibility of the port of Odessa”, – she explained.

Besides, Yevgeniya Litvinova noticed that since March of the last year, Egypt obliged Ukraine to use the letter of credit for many groups of goods that leads to rise in price of transactions from 0,2 to 0,5%. This factor, according to the expert, will also directly affect trade and its final results.

“If we talk about advice to our small and medium-sized businesses when entering the Egyptian market, first you need to understand what exports are, if you have not previously been involved in this process. Then you should analyze in which cases it is profitable to open a Ukrainian enterprise in Egypt to work, and in which cases you do not always need to do it and not always profitable. Finally, the third tip – go through the registration. At least look at how to pass authorization, registration through a single window in Egypt. I draw your attention to the fact that your brand should be registered at least in Ukraine before you start to pass this registration in Egypt, “- summed up Eugenia.

In turn, the head of the Egyptian diaspora in Ukraine, Dr. Atia Walid noticed that in recent years Egyptian-Ukrainian trade relations have been intensively developed and our country has been invited to participate in major infrastructure projects, which are now being implemented by the Egyptian authorities.

“Back in 2021 Egypt discussed with the Ukrainian government investment in the special economic zone of the Suez Canal. That is, the Egyptian economic policy is primarily aimed at encouraging investment in the country’s economy. Egypt, of course, is interested in cooperation with Ukrainian companies from the point of view of opening joint ventures on its territory, which can well be realized today, despite the war. I think it is quite realistic for Ukrainian companies to open branches there, if they are interested in the sales market. Egypt is ready to facilitate this,” stressed the representative of Egypt.

In his opinion, our suppliers should work more actively both with the Egyptian embassy in Kiev and the Ukrainian embassy in Cairo. This will facilitate the passage of bureaucratic procedures and reduce the likelihood of becoming victims of fraud.

“Ukrainian businessmen should check with the Egyptian embassy or the Chamber of Commerce the authenticity of the documents of those organizations with which they cooperate. And only after that, conclude a contract according to all international rules. You should not believe the promises and pretty eyes, and do not forget the basics of doing business in the field of export-import. I wish all businessmen in Egypt and in Ukraine only success,” said Dr. Atia Walid.

See more details in the video:

You can subscribe to the Club of Experts channel by following the link:

https://www.youtube.com/@user-nz9lh8yg9g

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Another 6 dry cargo ships will deliver 223 thousand tons of Ukrainian agricultural products to China, Israel, Egypt, Belgium and Italy

Six vessels with 223.4 thousand tons of food left Ukrainian ports on Friday, having received permission from the Joint Coordination Center (JCC).
“On October 28, six ships left Ukrainian ports, they are transporting a total of 223,430 tons of grain and other agricultural products as part of the Black Sea Grain Initiative,” the SKC said in a statement.
The ship Kavo Perdika will deliver 54,160 tons of corn to Israel, the ship Zante – 47,270 tons of rapeseed to Belgium. Dry cargo ship Asl Tia transports 39 thousand tons of sunflower meal to China, dry cargo ship Super Bayern transports 33 thousand tons of corn to Italy.
In addition, two ships Rising Eagle (25 thousand tons of wheat) and Lina (25 thousand tons of corn) are sent to Egypt.
“Grain that has arrived at its destination can be processed and then transported to other countries,” the SKC explained.
It is noted that as of October 27, the total tonnage of grain and other agricultural products exported from three Ukrainian ports is 9,239,819 tons.
“At the moment, 101 vessels have been registered for verification by the SKC, another 76 have applied to join the initiative,” the message says.
As reported, in Istanbul on July 22, with the participation of the UN, Ukraine, Turkey and Russia, two documents were signed on the creation, first, for a period of 120 days, of a corridor for the export of grain from three Ukrainian ports: Chernomorskaya, Odessa and Yuzhny. Ukraine set as its goal to export 3 million tons of agricultural products per month as part of the initiative.

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PRESIDENT OF UKRAINE APPOINTS NEW AMBASSADORS TO CANADA, AUSTRALIA AND EGYPT

President of Ukraine Volodymyr Zelensky has appointed former Deputy Head of the President’s Office, former member of the Supervisory Board of NJSC Naftogaz Ukrainy Yulia Kovaliv as Ambassador of Ukraine to Canada.
A photocopy of the relevant decree was posted on Facebook by Deputy Head of the President’s Office Andriy Sybiha.
In addition, Vasyl Miroshnychenko was appointed Ambassador of Ukraine to Australia, and Mykola Nahorny was appointed Ambassador of Ukraine to Egypt

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