Business news from Ukraine

Business news from Ukraine

PRESIDENT OF UKRAINE MEETS WITH PRESIDENTS OF POLAND, LITHUANIA, LATVIA AND ESTONIA IN KYIV

President of Ukraine Volodymyr Zelensky held a meeting in Kyiv with President of Poland Andrzej Duda, President of Latvia Egils Levits, President of Lithuania Gitanas Nauseda and President of Estonia Alar Karis, who are visiting Ukraine.
“The heads of state held a meeting in the format of a working lunch,” the press service of the President of Ukraine reports.
After the talks are over, the presidents will talk to media representatives.

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POLAND, LITHUANIA, LATVIA, SLOVAKIA, GERMANY AND HUNGARY SIMPLIFYING TRAVEL FOR HUMANITARIAN AID CARRIERS TO UKRAINE

Poland, Lithuania, Latvia, Slovakia, Germany and Hungary have introduced permit-free travel for humanitarian cargo carriers to Ukraine, according to the Telegram channel of the Ministry of Infrastructure of Ukraine.
The matter concerns the release of carriers from any additional conditions, in particular the need to obtain permits for international freight traffic. This is necessary for the prompt delivery of humanitarian cargo during martial law.
To cross the border with Lithuania, Latvia and Slovakia, you do not need to submit information about the carrier and vehicle.
“We thank our European partners for their support. The Ministry of Infrastructure of Ukraine continues to work with foreign partners in order to speed up the process of transporting humanitarian cargo in an extremely difficult period for Ukraine,” the ministry stressed.

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AIRBALTIC STOPS NIGHT FLIGHTS TO UKRAINE UNTIL END OF FEB

The Latvian national airline airBaltic has decided to suspend night flights to/from Ukraine until the end of February 2022, according to the company’s website.
“The airline will continue to provide flights from Kyiv to both Riga and Vilnius. The safety of our passengers and employees is the main priority of airBaltic. airBaltic is evaluating the current situation before each flight and following the recommendations issued by official authorities. airBaltic is flexible and ready to adjust its flight schedule if necessary,” the statement said.
This week, airBaltic plans to operate day flights between Kyiv and Riga, as well as two flights between Kyiv and Vilnius.
Due to the temporary suspension of flights, the airline canceled five night flights between Kyiv and Riga, as well as two flights between Odesa and Riga. The airline will contact the passengers of the indicated flights and offer them to transfer the booking to other flights.
As reported, the Ministry of Infrastructure is negotiating with Ukrainian airlines to replace flights canceled by foreign airlines.
airBaltic (Air Baltic Corporation AS) connects the Baltic region with more than 70 destinations in Europe, the Middle East and the CIS countries.

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ESTONIA, LATVIA AND LITHUANIA OPEN BORDERS FOR UKRAINIANS

Estonia, Latvia and Lithuania have opened borders for Ukrainians for all types of travel, according to the recommendation of the European Council, Ukrainian Foreign Minister Dmytro Kuleba has said.
“Estonia, Latvia, Lithuania have opened for all types of travel for Ukrainians, according to the recommendation of the EU Council. Visa-free weekend in the Baltic countries? Now it is possible again,” Kuleba said on his Twitter.

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UKRAINIAN OVOSTAR PLANS TO BUILD EUR 100 MLN EGG PRODUCTION COMPLEX IN LATVIA

Gallusman, one of Ovostar Union companies, plans to begin the construction of an egg production complex in Latvia in partnership with the energy company ADVEN in 2021, the project is currently at the stage of assessing potential environmental impacts. According to Ovostar, it is expected that the new production complex will export up to 90% of its products. Another Latvian subsidiary of Ovostar, Ovostar Europe, which since 2015 has been cooperating with the group’s trading partners in the EU countries, will be engaged in export sales. The goal of Ovostar is to enter new markets in Europe and the Middle East.
“Today, the project is at the stage of assessing the potential impact of the new production on the environment. The examination should be completed before the end of this year, and the start of construction work is scheduled for 2021,” the company noted.
It is projected to bring about EUR 100 million investment and 200 new jobs to the Latvian economy.
Ovostar reported that Gallusman and ADVEN had already signed a letter of intent. The partnership of the companies is aimed at finding the best energy and infrastructure solutions for the egg production complex to achieve non-waste production.
“Upon completion of the project, Gallusman will become a leader in the poultry industry and animal feed trade in Latvia, as well as the largest producer of eggs and egg products in Northern Europe,” Ovostar said.
Gallusman is part of the Ovostar Union group. Ovostar Union, one of the leading Ukrainian agricultural holdings, is one of the largest egg producers in Europe. The business model of the company is built on the principle of a full production cycle.

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LATVIA TO RESUME WORK OF INVESTMENT AND DEVELOPMENT AGENCY IN UKRAINE IN 2020

Latvia will resume the work of the Investment and Development Agency (LIAA) in Ukraine in 2020 after a three-year break, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Dmytro Kuleba has said following a meeting with Minister of Economics of the Republic of Latvia Ralfs Nemiro, according to the government’s press service.
“The office of the Latvian Investment and Development Agency in Kyiv will promote a daily dialogue between Ukrainian and Lithuanian businesses and will provide a strong impetus to the development of bilateral investment cooperation. The resuming of office’s work after a three-year break is a clear message that foreign investors see positive changes in Ukraine. There will be more investment and more trade with our friend and EU member Latvia,” Kuleba said.
Nemiro reported that the office would resume its work next year after the completion of technical procedures.
The ministers also agreed to reform the work of the Ukrainian-Latvian Intergovernmental Commission on Economic, Industrial, Scientific and Technical Cooperation.
The co-chairs of the Commission agreed that the next meeting would be held in May 2020 in Kyiv. Among the priority issues on the agenda will be digitization, agriculture, pharmaceutical industry and logistics.
Kuleba suggested holding a special business forum in the framework of the Commission’s meeting that would contribute to building connections between Ukrainian and Latvian entrepreneurs.
“Business contracts entail international contacts, hence they should not only promote establishing links between governments but also facilitate building more productive relations directly between the entrepreneurs of the two countries,” Kuleba said.
In turn, Nemiro supported the idea of holding such a forum.
As of July 1, 2019, Latvia invested in Ukraine $41.5 million, in particular $9.6 million (23.1%) in professional, scientific and technical activities, $8.2 million (19.6%) in financial and insurance activities, $5.7 million (13.8%) in industry. Ukrainian investment in the Latvian economy over the same period amounted to $72.1 million.

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