Business news from Ukraine

Ukraine appeals to European partners for maximum assistance in increasing electricity imports

Ukraine is asking its European partners to maximize their assistance in increasing electricity imports to 2.3 GW from 1.7 GW today, First Vice Prime Minister and Minister of Economy Yulia Svyrydenko has said.

“We need a political and technical decision to increase electricity imports to 2.3 GW,” she said at the Ukraine Recovery Conference (URC-2024) in Berlin on Tuesday.

Svyrydenko noted that the energy issue will be the main topic during the two days of the conference, as Russia has already destroyed half of Ukraine’s generating capacity, or about 9 GW, which is enough to provide electricity to 11 million German citizens.

According to her, in addition to increased imports, the three other priorities in this area are rapid restoration where physically possible, the commissioning of up to 1 GW of capacity this year and another 4 GW over the next two years, and loans.

“We desperately need equipment from your decommissioned power plants and direct financial support,” the First Deputy Prime Minister said.

She added that European, especially German, companies are global technological leaders in this field, and the first contracts will be signed at this conference, but more active participation of international financial organizations and expert credit agencies around the world is needed.

Svyrydenko emphasized that the second key task is to ensure reliable air defense.

“We see a direct dependence of economic recovery on the quality of air defense. Thanks to the protection of our ports, we were able to increase exports to 13 million tons of cargo (per month). This is almost the pre-war level,” the First Deputy Prime Minister explained.

Speaking about reforms, Svyrydenko noted that replacing the word “reforms” with the word “recovery” in the title of the conference after the start of the full-scale invasion means recognizing that the reforms combined in the reform matrix are necessary but not sufficient to accelerate economic growth.

“The analysis shows that reforms alone are not enough for economic growth, the only factor that can stimulate long-term growth is investment, it is private sector participation.
If Ukraine wants to have a chance to catch up with the EU countries in terms of GDP, we need investments or technology transfer in the amount of $10 to $13 billion a year over the next 10 years. We need investors to come to Ukraine now, and not wait until the war is over, because this is a prerequisite for rapid economic growth and future victory,” the First Deputy Prime Minister summarized.


Canada extends duty-free import of goods from Ukraine until June 9, 2025

Canada has extended for another year – until June 9, 2025 – the exemption of Ukrainian goods from customs duties, the relevant customs notice is published on the website of the Canadian government.
“We are sincerely grateful to our Canadian partners for supporting the Ukrainian economy by increasing exports and temporarily eliminating customs duties and trade fees on imports from Ukraine. This is an invaluable contribution to our resilience,” First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko commented on the decision in a tweet.
This decision ensures the continuation of duty-free imports of Ukrainian products to Canada, which began on June 9, 2022.
According to the State Statistics Service, exports of goods from Ukraine to Canada in the first quarter of 2024 increased by almost 2.7 times to $47.43 million, while imports decreased by 43.9% to $45.42 million.
Overall, exports of goods from Ukraine in the first quarter of this year decreased by 2.8% to $10 billion 60.85 million, while imports increased by 1.7% to $15 billion 751.91 million.

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Ukraine will review anti-dumping measures against imports of cement from Russia, Belarus and Moldova

The Interdepartmental Commission on International Trade (ICIT) will review anti-dumping measures against imports of cement from Russia, Belarus and Moldova to Ukraine due to their expiration.

According to a report in the Uryadovy Courier dated May 22, 2024, the anti-dumping duties previously in force by the decision of the ICIT dated May 21, 2019, are extended for the duration of the review procedure.

It is noted that the Commission considered the relevant request for review from PrJSC “Dickergoff Cement Ukraine”, PrJSC “Ivano-Frankivsk Cement” with the support of PrJSC “Kryvyi Rih Cement”, and also studied the report of the Ministry of Economy on the results of the anti-dumping procedure for the review of customs duties due to the expiration of their validity.

“The request contains sufficient evidence that the termination of anti-dumping measures against imports into Ukraine of cement originating in the Russian Federation, the Republic of Belarus and the Republic of Moldova, applied by the Commission’s decision of 21 May 2019, is likely to lead to the resumption of dumping and injury,” the ICIT said in a statement.

The Ministry of Economy has been entrusted with the review of anti-dumping measures. Stakeholders are to register within 30 days.

According to Alyona Omelchenko, Partner and Head of International Trade Practice at Ilyashev & Partners Law Firm, who represented the interests of Ukrainian cement producers, the review process may take up to one year.

“This decision of the Commission is extremely important for the work of Ukrainian enterprises. The initiation of the review of anti-dumping measures by the ICIT will extend the period of application of duties and prevent dumped imports from entering the market until the final decision is made,” Omelchenko said in a press release.

As reported, in 2019, the ICIT applied anti-dumping duties on imports of cement clinkers and Portland cement to Ukraine under codes 2523 10 and 2523 29 at the level of 57.03% for cement from Belarus; 94.46% for cement from Moldova; 114.95% for cement from Russia. The duties were set for a period of five years.

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EU countries imported 164 thousand tons of honey in 2023 for EUR 359 mln

In 2023, the countries of the European Union imported 163.7 thousand tons of honey for a total of EUR359.3 million, according to the Statistical Office of the European Union (Eurostat).

Exports of honey from the EU countries amounted to only 24.9 thousand tons worth EUR146 million.

Over 10 years, since 2013, imports have increased by 20%, exports – by 14%.

Last year, the main suppliers of honey to the EU were China (60.2 thousand tons, or 37% of all foreign supplies), Ukraine (45.8 thousand tons, 28%), Argentina (20.4 thousand tons, 12%), Mexico (10.7 thousand tons, 7%) and Cuba (4.7 thousand tons, 3%).

The UK became the main importer of honey from the European Union – 4.3 thousand tons. Saudi Arabia, Switzerland and the United States imported more than 3 thousand tons.

The largest buyer of foreign honey among the EU countries was Germany, which imported 41 thousand tons in 2023. Belgium took the second place (31.4 thousand tons), and Poland was the third (23.3 thousand tons). Spain was the leading exporter (7.1 thou tons).

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Ukrainian enterprises in January-April increased imports of zinc by 60% to $17 mln

Ukrainian enterprises in January-April 2024 increased imports of zinc and zinc products – by 59.9%, up to $17.217 mln (in April – $5.357 mln). Exports of zinc for four months of this year amounted to $73 thousand (in April – $29 thousand), while in January-April 2023 it amounted to $48 thousand.
Zinc exports abroad in 2023 amounted to $130 thou. against $1.331 mln in 2022. Zinc exports for 2022 totaled $1.331 million, compared to $550 thousand in 2021. Exports of tin and tin products totaled $424 thousand in 2022, compared to $346 thousand in the previous year.
Zinc is used to protect steel from corrosion, in the production of zinc whitewash, in the metallurgical industry in the production of zinc sheets, and in the manufacture of foundry lead and copper-zinc alloys. It is also used as a material for the negative electrode in chemical current sources.

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Ukraine in January-April reduced imports of lead, but increased imports of tin

According to customs statistics released by the State Customs Service of Ukraine on Friday, Ukraine reduced imports of lead and lead products by 13.8% – to $406 thousand (in April – $124 thousand), imports of tin and tin products increased by 10.2% – to $887 thousand (in April – $267 thousand). Exports of lead and lead products decreased by 35.3% to $3.537 mln.
As reported, Ukraine in 2023 reduced imports of lead and lead products by 65.2% – to $989 thousand, imports of tin and tin products – by 23% – to $2.728 million. Exports of tin and tin products amounted to $159 thousand against $424 thousand for 2022.
Zinc exports for 2022 totaled $1.331 million, compared to $550 thousand in 2021. Exports of tin and products totaled $424 thousand in 2022, compared to $346 thousand the previous year.
Lead is used to make bullets and shot. It is part of many alloys, such as bearing alloys, printing alloy, tin-lead solder, bronzes and brasses. .
Tin is often used as a protective coating due to these properties. It is the main constituent of solder and babbitts, typographic alloys and bronzes.

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