Business news from Ukraine

Parliamentary association “In support of friendship and cooperation with Taiwan” is being created in Ukrainian parliament

An inter-factional deputy association (IFO) “In support of friendship, trade, economic, cultural and humanitarian cooperation with Taiwan” will start working in the Verkhovna Rada, said Alexander Merezhko, Chairman of the Parliamentary Committee on Foreign Policy and Inter-Parliamentary Cooperation (Servant of the People faction) .
“Together with our colleagues, we decided to create an IFI “In support of friendship and cooperation with Taiwan” (…) In fact, the IFI has already been created. All that remains is to announce its creation at the plenary meeting,” Merezhko told Interfax-Ukraine on Friday.
According to the head of the committee, he was one of the initiators of the creation of the IFO, which included 15 people’s deputies from the Servant of the People, Holos, and European Solidarity factions.
Merezhko noted that he personally was prompted to create an IFO by Taiwan’s actions – “serious sanctions against Russia” imposed after the start of a full-scale Russian invasion of Ukraine, and the assistance provided to our country.
“That is, Taiwan behaved like a true friend in a difficult time for us. Society in Taiwan also very actively supported Ukraine,” Merezhko stressed.
Speaking about the plans of IFIs, Merezhko emphasized that he considers the model of European countries, which have their own economic representations in Taipei, to be attractive.
“We need to develop economic, cultural, humanitarian and other ties with Taiwan. By the way, the European Parliament recommends that EU states develop ties with Taiwan. And this is right, because we have common values. For example, such as democracy and the rule of law,” explained people’s deputy.
In the statement on the creation of the IFO, handed over by Merezhko to the Interfax-Ukraine agency, the people’s deputies note the need to “develop relations with Taiwan to protect peace, within the framework of international law, the UN Charter, Ukraine’s international obligations and the one China policy.”
According to the document, the MPs included in it elected Merezhko as the head of the MFI.

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From September 1 Ukraine and Moldova abolish permits for cargo transportation

From September 1, 2022, Ukrainian carriers will be able to travel to Moldova under new simplified rules, according to the official Facebook page of the Ministry of Infrastructure of Ukraine.
“After the signing of the “transport visa-free regime” with the countries of the European Union, Moldova remained the only state on our borders with which the permit regime for Ukrainian carriers was not completely abolished. Given the large volume of cargo that is now going towards Moldova, the signing of a bilateral protocol removes the risk of stopping our exports,” the ministry stressed.
The permit regime will be maintained for non-scheduled passenger traffic (next year, the parties will exchange 2,200 permits) and for traffic to or from third countries (Ukraine will receive 10,000 permits by 2023).
“Bilateral cancellation of permits for international freight transportation, the opening a few days ago of the Berezyne-Basarabeasca railway section, which has not been operating for more than 20 years, are excellent examples of cooperation in the transport sector, strengthening interaction between Ukraine and Moldova. Now our task is to make the most of new opportunities for strengthening the economies of our countries in the face of the threats posed by Russian military aggression and Russian policy in general,” Infrastructure Minister of Ukraine Oleksandr Kubrakov said.

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World tennis stars raise $1.2 mln for charitable aid for Ukraine

On August 24, on the Independence Day of Ukraine and on the anniversary of the sixth month of Russia’s full-scale invasion with the participation of Belarus on the territory of Ukraine, $1.2 million was raised at a charity tennis event in New York, the website btu.og.ua said.
Serhiy Stakhovsky, Olha Savchuk, Dayana Yastremska, Katarina Zavatska and Daria Snihur took part in the match to raise funds for humanitarian aid to Ukraine.
Representatives of world tennis played on the court: Iga Świątek, Rafael Nadal, Coco Gauff, Matteo Berrettini, Maria Sakkari, Stefanos Tsitsipas, Jessica Pegula, Sebastian Korda, Frances Tiafoe, Leylah Fernandez, Carlos Alcaraz, brothers John and Patrick McEnroe.
The anthem of Ukraine was performed by 12-year-old Ustyn Chorny in front of the audience, and employees of the Veselka restaurant of Ukrainian cuisine were able to play with tennis players.
Actions to support awareness of the war in Ukraine will continue at the U.S. Open and beyond. The Ukrainian choir “Dumka” from New York will be invited to the opening of the competition on August 29. Earlier it was reported that the USTA plans to donate at least $2 million to the Ukraine Crisis Relief Fund charity platform. This charity initiative was founded in March by seven governing structures in tennis.

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UK and Ukraine planning to conclude digital economy agreement

Ukraine and the UK are planning to conclude an agreement on digital trade, which will remove barriers to trade and provide support to Ukrainian businesses, the UK has previously concluded such an agreement only with Singapore, the Ukrainian Ministry of Economy and the Ministry of Digital Transformation report.
The Ministry of Economy in a press release on Wednesday clarified that the day before, First Deputy Prime Minister, Economy Minister Yulia Svyrydenko and Deputy Prime Minister, Minister of Digital Transformation Mykhailo Fedorov discussed this document – Digital Economy Agreement – with Secretary of State for International Trade of Great Britain Anne-Marie Trevelyan.
“The Digital Economy Agreement is a new type of trade agreement that will open up new opportunities for Ukrainian and British businesses through the use of modern technologies that will reduce bureaucratic procedures and promote the use of electronic payments, digital signatures and electronic contracts,” Svyrydenko said.
According to the release of the Ministry of Economy, the agreements involve the creation of digital infrastructure to level restrictions on cross-border data transfer, the opening of a single window for traders and government agencies, the growth of trade in services, proper protection of personal data and improved access to public resources.
The Ministry of Digital Transformation added that among the main areas of cooperation were financial technologies and payment systems, open digital markets and technical cooperation.
The Ministry of Economy clarified that the agreement on digital trade would supplement the agreement on political cooperation, free trade and strategic partnership between Ukraine and the UK, concluded on October 8, 2020.

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Ukraine will partially compensate exporters for accrued and paid interest on loans in 2022

The state will partially compensate exporters for interest accrued and paid this year on loans insured by the Export Credit Agency (ECA), the website of the Ministry of Economy reported on Wednesday.

The corresponding decision was made by the Cabinet of Ministers at a meeting on August 23.

It is indicated that the state will partially compensate the rate on export credits, which are taken for a period of two to 12 years and amount to no more than 85% of the amount of the foreign economic contract.

Such loans should be used to replenish working capital, purchase equipment, fulfill the terms of a foreign economic contract, and build and reconstruct production facilities.

It is noted that the borrower must be a FOP or a legal entity registered on the territory of Ukraine (except for the temporarily occupied territories), not have open bankruptcy cases and not be in the process of liquidation.

The Ministry clarified that if the borrower violates the terms of interest payment for more than 15 days, compensation will be temporarily suspended.

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Erdogan will arrive in Ukraine in 2 days to discuss steps to end war

During his first visit to Ukraine since the start of Russian aggression, Turkish President Tayyip Erdogan plans to discuss possible steps to end the war through diplomacy with Ukrainian President Volodymyr Zelensky and UN Secretary General António Guterres, CNN Turk reports, citing a statement from the Communications Department. president.

“(…) The meeting will discuss steps that can be taken to end the Ukrainian-Russian war through diplomacy, by activating the mechanism created to export Ukrainian grain to world markets,” the message posted on the website on Tuesday evening reads.

The Milliyet edition notes that Erdogan will visit Ukraine for the first time since the beginning of the full-scale invasion of the Russian Federation. During the visit, aspects of Turkish-Ukrainian relations at the level of strategic partnership will be assessed.

As reported, UN Secretary-General António Guterres will travel to Lviv on Thursday, August 18, to meet with Ukrainian President Volodymyr Zelensky and Turkish President Tayyip Erdogan. Earlier, the “Club of Experts” released an analysis of the main events that should take place on August 15-21 in Ukraine and the world. For more video analysis, see the link

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