Business news from Ukraine

PM OF UKRAINE: WE HAVE AMBITIOUS GOAL TO JOIN COMMON CUSTOMS SPACE WITH EU WITHIN MONTH

Prime Minister Denys Shmyhal says that Ukraine expects to join the common customs area with the European Union within a month.

“We are grateful for the provision by Slovakia of extremely needed military assistance and for humanitarian assistance, which covers almost all areas,” Shmyhal was quoted by the government press service as a result of a meeting in Kyiv with President of the Slovak Republic Zuzana Chaputova on Tuesday.

The Prime Minister noted that Ukraine expects to become a full member of the European family.

“Slovakia is one of the largest advocates of Ukraine in the European Union. We appreciate the initiative to unite with our friends to advance the granting of Ukraine the status of an EU candidate. We are grateful for such support,” he said.

The Prime Minister stressed that Ukraine has fulfilled more than 70% of the Association Agreement with the EU.

“We have an ambitious goal of joining the NCTS, the Common Customs Space, within a month. We are ready for all challenges and Denis Shmigal is ready.

Chaputova, for her part, noted that Slovakia had a recent experience of integration into the EU and her country would support Ukraine on this path.

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PM OF UKRAINE INVITES INTERNATIONAL FINANCE CORPORATION (IFC) TO JOIN RESTORATION OF UKRAINIAN CITIES

Prime Minister of Ukraine Denys Shmygal invited the International Finance Corporation (IFC) from the World Bank Group to join the reconstruction of Ukrainian cities.
“The head of the Ukrainian government spoke about the scale of destruction as a result of Russia’s criminal actions and expressed hope for the support of the International Finance Corporation in the issue of restoring the housing stock and social infrastructure,” the press service of the government said after a meeting between Shmyhal and the managing director and executive vice IFC President Makhtar Diop.
According to him, Ukraine plans to carry out the restoration on the principles of a green economy.
The prime minister also noted that he was counting on IFC assistance in financing the restoration of the transport infrastructure of Ukrainian cities, especially those most affected by the actions of the occupiers.
“We are interested in creating a financial platform for the IFC, which will finance more Ukrainian cities. Today, attracting foreign investment in the restoration of critical and social infrastructure is one of the most important issues on the agenda of Ukraine,” the head of government added.
In addition, Shmyhal focused on the need to extend public-private partnership projects after Ukraine’s victory. In particular, this concerns the implementation of concession projects at airports, railway stations, seaports, as well as public-private partnership projects in the road industry.
“The resilience of the people of Ukraine is outstanding. Consider IFC as a strong and strategic partner that will play its part in supporting the private sector,” Diop tweeted after the meeting.

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PM OF UKRAINE WELCOMES ORGANIZATION FOR ECONOMIC COOPERATION AND DEVELOPMENT INTENTION TO OPEN OFFICE IN KYIV

At a meeting with Secretary-General of the Organization for Economic Cooperation and Development (OECD) Mathias Cormann, Prime Minister of Ukraine Denys Shmyhal welcomed the intention of the OECD to open a regional office in Kyiv.
“I informed the OECD Secretary-General about the creation in Ukraine of a plan and a fund for the restoration of our state. We strive to change the country and the economic model, based on the best world standards. Our goal is based on the principles promoted by the Ukrainian people: a European future, a transparent state and an open economy,” Shmyhal said on his Telegram channel following the meeting.
The prime minister said it is important for Ukraine to use the best practices of the OECD and implement them in the near future.
“I welcomed the intention to open a regional office of the OECD in Kyiv, this is an excellent opportunity to strengthen and accelerate our cooperation,” Shmyhal said.
Shmyhal also said the ‘green’ economy is the basic principle of the new economic model of Ukraine.
“Russia has destroyed and continues to destroy our infrastructure. There is no point in returning to the old models, so we intend to restore it according to modern principles and the latest technologies,” he said.
In addition, the prime minister said that Ukraine intends to make corporatization even more efficient, and in this matter counts on active assistance from the OECD.

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PM OF UKRAINE DISCUSSES DEVELOPMENT OF COOPERATION WITH US SECRETARY OF COMMERCE

Prime Minister of Ukraine Denys Shmygal discussed with US Secretary of Commerce Gina Raimondo the development of bilateral trade and the reduction of trade barriers.
“Denis Shmihal noted the importance of continuing and strengthening sanctions pressure on Russia in order to reduce its ability to finance the war against Ukraine. An important blow to bleed the Russian economy and the Russian military machine should be the sanctions of the energy sector. According to the head of government, this concerns the imposition by partner countries of an embargo on the import of oil, gas, coal and nuclear fuel from Russia,” the government’s press service said in a statement.
Shmyhal urged countries to look for ways to diversify sources of nuclear fuel supplies to reduce dependence on Russia.
The prime minister also focused on the need to identify and eliminate any loopholes and potential opportunities for Russia to circumvent the already imposed sanctions.
“Russia is trying to adapt to some sanctions with the help of certain countries and companies. We will work with our partners to eliminate such opportunities for Russia,” he stressed.
It is noted6 that one of the most important tracks, according to Shmyhal, is a large-scale restriction of Russia’s trade opportunities while expanding the opportunities for unhindered trade for Ukraine by reducing import quotas and barriers for strategic sectors of Ukrainian industry.
According to him, along with the financial support of international partners, it is equally important for Ukraine to open new markets for Ukrainian-made products, in particular, this applies to products of the steel industry and the agro-industrial complex.
In particular, Shmyhal noted that the release of Ukrainian steel from US duties would allow for a stable supply of metallurgical enterprises with orders, and thousands of Ukrainian metallurgists with jobs.

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ISRAELI PM BENNETT PLANS POSSIBLE TRIP TO UKRAINE

Israeli Prime Minister Naftali Bennett has accepted an invitation from Ukrainian President Volodymyr Zelensky to visit the country on the condition that Kyiv makes significant progress in ceasefire talks with Russia, Israel’s Ynet news reported.
According to the publication, Bennett has already asked the country’s security service to begin preparations for his possible visit to Kyiv.
“In order to advance the negotiations, it is clear that in-person meetings are necessary. And they may happen down the road if negotiations reach a tipping point,” a source involved in the talks with the Ukrainians told Ynet.
“However, some security officials have expressed their misgivings about the risks entailed in the prime minister going into an active war zone, especially after a Russian bombing of the city killed at least eight people on Monday,” the report says.
“According to sources familiar with the matter, Zelensky and Ukrainian government officials have been pursuing a Bennett visit to Kyiv for the past ten days as they believe the visit would help expedite ceasefire talks with Moscow,” according to the edition.
Earlier this month, the Israeli prime minister visited Moscow to meet with Russian President Vladimir Putin in the Kremlin.

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PM OF INDIA AND JAPAN CALL FOR PEACEFUL RESOLUTION OF SITUATION IN UKRAINE

Indian and Japanese Prime Ministers Narendra Modi and Fumio Kishida on Saturday called for peaceful resolution of the situation in Ukraine during a meeting in Delhi, Japan Times has reported.
The leaders urged an “immediate cessation of violence,” and noted that the only way to resolve the conflict is through dialogue and diplomacy.
Kishida and Modi also stressed the importance of ensuring the security of nuclear facilities in Ukraine and overcoming the humanitarian crisis that has developed in Eastern Europe due to the arrival of Ukrainian refugees there, Japan Times said.
In addition, the leaders discussed the strengthening of economic ties between the countries and the situation in the Indo-Pacific region.

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