In January-August this year, Ukraine reduced pig iron exports in physical terms by 19.8% compared to the same period last year, to 749.454 thousand tons. According to statistics released by the State Customs Service (SCS) on Friday, pig iron exports in monetary terms decreased by 19.6% to $286.447 million during the period.
At the same time, exports were carried out mainly to the United States (66.28% of supplies in monetary terms), Italy (10.03%) and Turkey (9.85%).
In the first eight months of the year, the country imported 15 tons of pig iron worth $37 thousand from Germany (in January, March, May, June, July and August, there were no imports), while in the same period in 2023, it imported 65 tons of pig iron worth $97 thousand.
As reported, in 2023, Ukraine reduced pig iron exports in physical terms by 5.8% compared to 2022 – to 1 million 248.512 thousand tons, while exports in monetary terms decreased by 26.2% to $471.467 million. Deliveries were made mainly to Poland (51.91% of supplies in monetary terms), Spain (21.41%) and the United States (13.15%).
In 2023, Ukraine imported 154 tons of pig iron worth $156 thousand from Germany (42.31%), Brazil (41.67%) and Poland (16.03%), compared to 40 tons of pig iron worth $23 thousand in 2022.
Turkey has officially applied to join BRICS, Bloomberg reports citing its sources.
The publication writes that such a decision is due to the fact that the country wants to strengthen its global influence, as well as to establish new ties outside the traditional Western allies.
BRICS is an abbreviation for Brazil, Russia, India, China, South Africa. This association is also called an analog of the G7 or G20 – a club for the interests of countries that are not satisfied with the “dominance” of the West. Earlier this year, Brazil, Russia, India, China and South Africa were joined by four new members – Iran, United Arab Emirates, Ethiopia and Egypt. Saudi Arabia was invited to join, but has not yet done so.
Malaysia, Thailand and Azerbaijan have applied to join BRICS. The next BRICS summit to discuss its expansion will be held in Russia in late October 2024.
Turkey has ratified a free trade agreement with Ukraine, Anadolu quoted the country’s official newspaper as saying on Friday.
The agreement was signed on Feb. 3, 2022, and President Recep Tayyip Erdogan approved the deal and its annexes on Thursday.
Turkey-Ukraine bilateral trade volume in 2023 totaled $7.3 billion, Turkish Trade Minister Omer Bolat said Thursday after meeting with Ukraine’s First Deputy Prime Minister Yulia Sviridenko.
According to him, the trade volume is expected to increase to $10 billion within a short period of time under the said agreement.
The main areas of trade between the two countries are ferrous metallurgy, machine building, energy, automobile and grain.
Turkey’s Dalgakiran has invested UAH 400 million in launching a plant to produce industrial power equipment in Bilogorodka in Kiev region, Dalgakıran Kompresör Ukraine LLC said in a press release.
The construction project was started before the large-scale Russian aggression, and now thanks to the investment of the Turkish side it has been completed. The investment in the production site and office will create 50 new jobs.
“The office and new production in Ukraine will contribute to the development of enterprises in all sectors, giving them the opportunity to continue economic activities, save money and resources,” said Vyacheslav Dinkov, director of Dalgakiran Compressor Ukraine.
According to him, the company’s plans include further development and localization of production, development and supply of new equipment necessary for the restoration of energy and industrial production in Ukraine.
In turn, Chairman of the Board of Dalgakiran Kompresör Adnan Dalgakiran noted that the scaling of business in Ukraine is a contribution to support the country’s economy and energy sector in difficult times. “In conditions of power outages, our equipment is able to ensure the continuity of business processes and production, enable businesses to continue to operate, pay taxes and give Ukrainians jobs,” he said.
“Dalgakiran Compressor Ukraine” is a representative office of Turkish Dalgakiran, specializing in the manufacture and service of generator and compressor equipment, cooling systems and industrial pumps.
Ukrainian representative office sells equipment and improves it to meet the needs of the national customer. The basic equipment is manufactured in Turkey, where a full cycle of quality control is introduced, as well as its own design office.
The company has been working in Ukraine for 19 years, has representative offices in 11 cities and more than seventy own mobile service teams.
Dalgakıran Kompresör, industrial power equipment, INVESTMENTS, TURKEY
A vessel with 1,000 tons of wheat flour for Palestine arrived from Turkey to Jordan as part of the presidential program Grain from Ukraine, the head of the Presidential Office, Andriy Yermak, said on his Telegram channel.
“President Volodymyr Zelenskyy’s Grain from Ukraine initiative in cooperation with the WFP sent the first of three shipments to Palestine, which will provide food aid to more than 100,000 families caught in the middle of the conflict between Israel and Hamas,” he wrote, noting that this shipment was the first to be delivered to Palestine under this initiative.
Yermak emphasized that Ukraine continued to provide vital assistance to innocent civilians suffering from food shortages and at risk of starvation.
“Ukraine has always been and will continue to be a donor of food security for the whole world. Over the course of the program’s existence, Ukraine has supplied essential foodstuffs to many countries, including Sudan, Ethiopia, Kenya and Yemen. Food security is one of the important points of the Formula for Peace, and I call on all countries to join our collective efforts to achieve it,” he wrote.
According to Yermak, other ships are also scheduled to depart in the coming months. “In total, Ukraine plans to deliver more than 7,000 tons of wheat flour to Gaza under the initiative with the support of donors, including Norway, Austria, Estonia, France and Iceland,” the head of the Presidential Office said.
Turkish authorities are set to announce an agreement with Chinese automaker BYD Co. to build a $1 billion company facility in the country, Bloomberg reported.
According to the agency’s sources, Turkish President Recep Tayyip Erdogan will announce it on Monday at a ceremony in Manisa province, where the plant is planned to be built.
The opening of the plant in Turkey could make it easier for BYD, China’s largest electric car maker, to access the European Union market, with which the country has a customs agreement.
The day before, the European Commission imposed additional duties on imports of Chinese electric cars into the EU. For BYD Co. this duty amounts to 17.4%. Previously, the EU already had 10% duties on imports of electric cars from China.
The Turkish market is also of interest to BYD. Last year, cars with electric engines accounted for 7.5% of car sales in Turkey.
On Friday, it became known that the Turkish authorities refused to introduce an additional duty of 40% on imports of Chinese electric cars into the country, which was announced in June. This came after Erdogan’s talks with Chinese President Xi Jinping on the sidelines of the Shanghai Cooperation Organization (SCO) leaders’ meeting in Astana.
