Business news from Ukraine

CANDIDATE STATUS FOR UKRAINE TO FEATURE ON NEXT WEEK’S EUCO AGENDA

President of the European Council Charles Michel has announced that the issue of granting Ukraine the status of a candidate for membership of the European Union will be included in the agenda of the upcoming summit, which will be held in Brussels on June 23-24.

He wrote about this on his Twitter page. “Candidate status will feature on next week’s EUCO agenda. Called President Zelensky to inform him of way forward. We stand united with the people of Ukraine in solidarity and in our common future, ” the President of the European Council wrote.

European Commission President Ursula von der Leyen, commenting on her phone conversation with Zelensky, wrote on her Twitter page: “I was very moved by President Zelensky’s kind words over the phone today, following our recommendation to grant Ukraine the candidate status. The Ukrainians can count on the EU_Commission’s constant support as they move along the path to the European Union,” she assured.

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UKRAINE ABOLISHES VISA-FREE TRAVEL WITH RUSSIA FROM JULY 1

The Cabinet of Ministers of Ukraine has abolished the visa-free travel with Russia from July 1, Prime Minister Denys Shmyhal said.
“We are finally breaking ties with Russia. To counter the unprecedented threats to national security, sovereignty and territorial integrity of our state, the government, in pursuance of the order of the President of Ukraine, has just decided to terminate the visa-free agreement with the Russian Federation,” Shmyhal said on the Telegram channel on Friday.
According to him, from July 1, 2022, Russians will not be able to enter Ukraine without obtaining a visa.

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UKRAINE INTRODUCES VISA REGIME WITH RUSSIA

Ukraine is introducing a visa regime for Russian citizens, President of Ukraine Volodymyr Zelensky told the Telegram channel on Friday.
“As part of countering unprecedented threats to national security, sovereignty and territorial integrity of our state, I proposed to the Cabinet of Ministers to work out the issue of revising the regime of entry of Russian citizens into the territory of Ukraine,” he wrote.
“And today the Cabinet of Ministers must adopt this important resolution ‘On the termination of the Agreement between the Government of Ukraine and the Government of the Russian Federation on visa-free travel of citizens of Ukraine and the Russian Federation and the application of certain international treaties of Ukraine with the Russian Federation,’” the president also wrote.
According to him, “according to the planned decision of the Cabinet of Ministers, from July 1, 2022, Ukraine will introduce a visa regime for entry for citizens of the Russian Federation.”

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EUROPEAN COMMISSION WILL RECOMMEND TO EUROPEAN COUNCIL TO GRANT UKRAINE AND MOLDOVA STATUS OF CANDIDATE FOR EU MEMBERSHIP – SOURCE

The European Commission will recommend to the European Council that Ukraine and Moldova be granted EU candidate status with further “homework” to be done.
Interfax-Ukraine was informed about this on Thursday in Brussels by a source close to the negotiation process and acquainted with the draft document. “To recommend granting candidate status to Ukraine on the understanding that the next steps will be taken (grant candidate status under the understanding that follows steps are taking),” the agency’s interlocutor quoted the draft document as saying.
Next, he said, is a list of “homework” that Ukraine will have to complete before official negotiations begin. Among them – ensuring the rule of law, the fight against corruption, oligarchs, money laundering. According to the source, this work should be done by Ukraine in any case, since for full membership in the EU it must meet the criteria of Article 49 of the Treaty. “Such a wording will allow countries that are still hesitating to be “taken on board,” the source explained the position of the European Commission. In addition, he also believes that Kyiv will need a significant amount of time to meet the necessary criteria.
With regard to Moldova, the list of “homework” is even longer than for Ukraine. With regard to Georgia, the EC recommends that candidate status be granted only after doing “homework”.
These recommendations have yet to be approved by the EU leaders at the summit, which will be held June 23-24 in Brussels.
The official announcement of the conclusions is scheduled for this Friday, June 17th.

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DEFICIT OF UKRAINE’S FOREIGN TRADE IN GOODS IN JAN-APR DECREASED BY 42 TIMES TO $29.6 MLN FROM $1236.7 MLN

The negative balance of Ukraine’s foreign trade in goods in January-April 2022 decreased by almost 42 times compared to the same period in 2021 – to $29.6 million from $1,236.7 million, the State Statistics Service (Gosstat) reported on Tuesday.

According to its data, the export of goods from Ukraine for the reporting period compared with January-April 2021 decreased by 12.3% – to $16.712 billion, imports decreased by 17.5% – to $16.742 billion.

The State Statistics Service clarifies that in April this year, compared to March 2022, the seasonally adjusted volume of exports increased by 7.2%, to $2.727 billion, and imports, by 65.1%, to $2.78 billion.

The seasonally adjusted foreign trade balance in April 2022 was negative and amounted to $0.053 billion, which is better than in April 2021, when the seasonally adjusted foreign trade balance was also negative at $0.359 billion.

The State Statistics Service recalls that in March 2022 it was positive and amounted to $0.86 billion.

The export-to-import coverage ratio in January-April 2022 amounted to 1.00 (in January-April 2021 – 0.94).

The State Statistics Service specified that foreign trade operations were carried out with partners from 215 countries of the world.

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DEFICIT OF UKRAINE’S FOREIGN TRADE IN GOODS IN JAN-APR FALLS BY ALMOST 98%

The deficit of Ukraine’s foreign trade in goods in January-April 2022 fell by almost 97.6% compared to the same period in 2021, to $29.6 million from $1.237 billion, the State Statistics Service reported on Tuesday.

According to its data, the export of goods from Ukraine for the reporting period compared with January-April 2021 declined by 12.3%, to $16.712 billion, imports fell by 17.5%, to $16.742 billion.

The State Statistics Service said that in April this year, compared to March 2022, the seasonally adjusted volume of exports increased by 7.2%, to $2.727 billion, and imports, by 65.1%, to $2.78 billion.

The seasonally adjusted foreign trade balance in April 2022 was negative and amounted to $0.053 billion, which is better than in April 2021, when the seasonally adjusted foreign trade balance was also negative at $0.359 billion.

The State Statistics Service recalls that in March 2022 it was positive and amounted to $0.86 billion.

The export-to-import coverage ratio in January-April 2022 amounted to 1.00 (in January-April 2021 – 0.94).

The State Statistics Service said that foreign trade operations were carried out with partners from 215 countries.

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