Business news from Ukraine

Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE invited to join BRICS

The BRICS member states have decided to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to join the organization, South African President Cyril Ramaphosa said on Thursday.

“We have decided to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to become full members of BRICS,” Ramaphosa said in a speech at the BRICS summit.

The membership of these countries will become official on January 1, 2024, the South African leader explained.

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Ukraine in 2022 reduced export of agricultural products to Russia by 15 times – UAE

The export of agro-processing products from Ukraine to Russia in 2022 decreased by 15.3 times in comparison with 2021 – down to $ 3 million from $ 46 million, while the supply of similar products to Belarus decreased by 7.5 times, to $ 69 million from $ 520 million.
According to the website of the Ukrainian Agrarian Export Association (UAAE), Ukrainian exporting companies are no longer planning to supply food products to the Belarusian and Russian markets, given the military aggression of Russia against Ukraine and the successful reorientation of its export to the European Union.
According to UAAE, in particular, the export of cocoa paste to Russia stopped in 2022, although in 2021, Russia was its largest buyer with the share of 60% of Ukrainian imports of these products and the volume of $20 million.
Ukraine also stopped supplying ice cream to Russia last year, although in 2021 it was the 3rd largest exporter of this Ukrainian product after Moldova and Israel. In 2022 Germany was added to its main markets instead.
Also in 2022, deliveries to Belarus, in particular the Ukrainian bakery confectionery decreased by 8.5 times – down to $ 2 million, whereas in 2021 it was the 3rd largest importer in this segment with an indicator of $ 17 million. Similarly, the supply of Ukrainian frozen beef – to $0.3 million in 2022 against $ 13 million a year earlier, and canned fruit products – by 6.7 times, to $1.5 million from $10 million.
According to the association, if in 2021, Belarus was the main importer of Ukrainian potatoes with the share of exports at 80% by $3 million, in 2022, it took the second place with 23% and $1 million respectively (a 3-fold decrease). Also, the supply of Ukrainian tomatoes, onions, cabbage, carrots, where in 2021, Belarus was among the top destinations for the purchase of these commodities, has decreased significantly or ceased. In addition, last year the Republic of Belarus from the position of the leader of importers of cooked unfrozen vegetables from Ukraine, where it took first place in 2021, “displaced” Moldova, Georgia and Hungary.
“With actually unchanged rates of export of jams, jellies and marmalades in 2022, their main buyers were Poland, Moldova and the Czech Republic (in 2021 – Poland, Belarus, Israel),” the association stressed in the report.
UAEA specified that in the segment of frozen vegetables last year Ukraine generally increased the volume of exports, while its geographical structure changed compared to 2021: Germany moved up to the second position instead of Belarus, which was ousted from the top three, and Turkey took the honourable “bronze”. Poland remained the leader here, as it was the year before last.
“The reciprocal embargoes with Russia, imposed since 2016, significantly reduced mutual trade even earlier. In particular, exports of frozen beef, fresh and processed vegetables, and confectionery products to Belarus dropped significantly. Last year, supplies of cocoa paste and ice cream to the Russian market were also reduced to zero,” the organization summarized in its report.

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United Arab Emirates donates 2,500 household generators to Ukraine

The United Arab Emirates (UAE) within the framework of the humanitarian support program worth $100 million transferred 2,500 household generators to Ukraine that will help in supplying energy to critical and social infrastructure (schools, kindergartens, medical institutions, heating centers), the State Property Fund of Ukraine reported.
In the release on Friday the Fund specified that the second party of 1300 generators arrived to Ukraine in addition to the first party of 1200 units, which arrived at the end of December.
While the first generators were sent to the regions most affected by the Russian aggression – Kherson, Donetsk, Luhansk, Odessa, Mykolaiv, Zaporizhzhia and Kyiv regions, the second batch will go to facilities in Sumy, Chernihiv, Kharkiv, Dnipropetrovsk, Luhansk, Donetsk regions and Kyiv, the IGF noted.
Earlier, the local news agency WAM pointed out that they were talking about household generators with a capacity from 3.5 to 8 kilowatts.
People’s deputy Yaroslav Zheleznyak said in Telegram on Friday that a total of 669.4 thousand generators were imported to Ukraine in 2022, of which 643.8 thousand – by enterprises, and 25.5 thousand – by citizens. The most generators were imported in December – 309.4 thousand, compared to 160.9 thousand in November and almost 72 thousand in October.


UAE to transfer 2,500 household generators to Ukrainian civilians

The United Arab Emirates (UAE) will transfer 2,500 household generators to the civilian population of Ukraine, the local news agency WAM reported.
“The generators will help the civilian population partially provide themselves with electricity, which will alleviate the difficult living conditions of families affected by the crisis,” the report said.
In particular, Ukraine will receive 2,500 household generators with a capacity of 3.5 to 8 kilowatts.
Also, about 1,200 household generators were delivered to Warsaw on December 24, and the country will hand over the rest in January.
The UAE is providing generators as part of the $100m humanitarian aid, which the UAE has allocated for Ukraine.


UAE allocates $100 million in humanitarian aid to Ukraine

The United Arab Emirates announced the allocation of humanitarian aid to Ukraine in the amount of $100 million, the press service of the UAE Permanent Mission to the UN reports.
“The international community must step up its support to alleviate the suffering of civilians and ensure that their basic needs are met. To this end, earlier this week, the UAE announced a US$100 million in humanitarian assistance to Ukraine,” the statement said on Thursday night. Saturday.
On October 17, Ukrainian President Volodymyr Zelenskyy had a conversation with the head of the United Arab Emirates (UAE), Mohammed bin Zayed al-Nahyan, on October 17.


UAE authorities have changed visa rules

The UAE authorities have changed the rules for issuing visas for foreign tourists: the validity of tourist visas has been increased to 60 days, five-year visas and other new types of documents have appeared, Gulf News reports.
“The new rules, which expand the opportunities for traveling to the country, came into force on October 3. Updating the visa issuance system will streamline the process of obtaining entry documents and meet the needs of all categories of foreigners and tourists in the future. It is aimed at increasing the population of the UAE through qualified entrepreneurs , scientists, successful students and graduates, workers,” the newspaper writes.
According to the portal, the validity of tourist visas has been extended from 30 to 60 days. It is also now possible to apply for a five-year multi-visa tourist, which will allow foreigners to stay in the UAE for 180 days a year or 90 days in a row. Foreigners can apply for a visa directly and the visa fee is 650 dirhams or $177. The application can be submitted through the UAEICP application.
The UAE authorities have also approved a new type of visa – a five-year resident Green Residence. Holders of such a visa will be able to sponsor their close relatives and easily obtain a residence permit for themselves and family members. Three categories of foreign citizens will be able to obtain such a visa: freelancers / self-employed, qualified employees, investors and partners.
“The UAE has also introduced visas to explore labor market opportunities and another type to explore investment and business opportunities without the need for confirmation from a sponsor or host,” writes Gulf News.
According to the publication, the new visa policy expands the opportunities for UAE Golden Visa holders and allows job seekers to enter the country with flexible visit periods and a simple extension of up to one year without the requirement of a sponsor or employer.