Port of Reni for the first time since the independence of Ukraine has attracted a new cargo flow – citrus fruits from Egypt, which in peacetime went through the larger ports of “Big Odessa”, the Administration of Sea Ports of Ukraine (AMPU) reported on Facebook.
“Last week a refrigerated vessel “ZEINAB”, equipped with enhanced ventilation and refrigeration units for the transportation of perishable goods, arrived at the port of Reni,” AMPU said in a statement.
In particular, 519.9 tons of fruit were delivered from Egypt: 150.3 tons of oranges, 169.4 tons of pomegranates, 31.05 tons of lemons and 169 tons of tangerines.
AMPU specified that citrus fruits were traditionally transshipped by Chornomorsk and Odessa ports.
The leader among them was the port “Chernomorsk”, which transshipped 253 thousand tons of citrus in the last five years: in 2018 – 83.6 thousand tons, in 2019 – 74.1 thousand tons, in 2020 – 43 thousand tons, in 2021 – 35.5 thousand tons and in 2022 – 16.8 thousand tons.
Port “Odessa” during the same period transshipped 134.2 thousand tons of citrus: in 2018 – 45.4 thousand tons, in 2019 – 40.4 thousand tons, in 2020 – 26.5 thousand tons, in 2021 – 14.3 thousand tons and in 2022 – 7.6 thousand tons.
AMPU reminded that now the ports of Greater Odessa work only within the framework of the “grain initiative”, so the cargo owners are forced to seek other ways to deliver citrus to consumers.
Earlier analytical project “Club of Experts” analyzed in detail the trade and economic cooperation between Ukraine and Egypt, see in detail in the video:
ATIA_VALID, BUSINESS, CLUB_EXPERTS, CLUB_EXPORTERS, EGYPT, EXPORT, GOODS, IMPORT, LITVINOVA, TRADE, UKRAINE, URAKIN
In the next video YouTube-channel of the analytical center “Club of experts” the prospects of trade and economic relations between Ukraine and Egypt were considered.
As the founder of the Club of Experts Maxim Urakin emphasized, before the war Egypt was the most favorable trade partner for Ukraine, the trade surplus with which amounted to almost 2 billion U.S. dollars. Grain and metallurgical products were the main Ukrainian goods at the Egyptian market.
At the same time, in the first months of the war, the Russian blockade of maritime communications in the Black Sea limited Ukrainian exports to Africa and, above all, to Egypt. The grain agreement improved the situation, but only with regard to agricultural exports. In order not to lose the Egyptian market, the Ukrainian companies have to adapt to the current situation now in order not to make additional efforts after the war.
According to the President of the Ukrainian Exporters Club Eugenia Litvinova, the Ukrainian producers should pay attention to the Egyptian market of dairy products in the first place. In this case, it is necessary to take into account the separation of Egyptian groups of goods for wholesale and retail trade while creating favorable conditions for imports. Also, according to her, the demand in Egypt is for canned and dried fruits, confectionery, chocolate, oils, fats, mineral water, as well as crockery, various cutlery, baths, showers, sinks, building materials and other goods for the retail trade.
“I want to draw attention to the fact that all Ukrainian exporters who want to trade with Egypt, must be registered in the general administration to control exports and imports. After that it is possible to establish logistics through rail and road ways, taking into account the temporary inaccessibility of the port of Odessa”, – she explained.
Besides, Yevgeniya Litvinova noticed that since March of the last year, Egypt obliged Ukraine to use the letter of credit for many groups of goods that leads to rise in price of transactions from 0,2 to 0,5%. This factor, according to the expert, will also directly affect trade and its final results.
“If we talk about advice to our small and medium-sized businesses when entering the Egyptian market, first you need to understand what exports are, if you have not previously been involved in this process. Then you should analyze in which cases it is profitable to open a Ukrainian enterprise in Egypt to work, and in which cases you do not always need to do it and not always profitable. Finally, the third tip – go through the registration. At least look at how to pass authorization, registration through a single window in Egypt. I draw your attention to the fact that your brand should be registered at least in Ukraine before you start to pass this registration in Egypt, “- summed up Eugenia.
In turn, the head of the Egyptian diaspora in Ukraine, Dr. Atia Walid noticed that in recent years Egyptian-Ukrainian trade relations have been intensively developed and our country has been invited to participate in major infrastructure projects, which are now being implemented by the Egyptian authorities.
“Back in 2021 Egypt discussed with the Ukrainian government investment in the special economic zone of the Suez Canal. That is, the Egyptian economic policy is primarily aimed at encouraging investment in the country’s economy. Egypt, of course, is interested in cooperation with Ukrainian companies from the point of view of opening joint ventures on its territory, which can well be realized today, despite the war. I think it is quite realistic for Ukrainian companies to open branches there, if they are interested in the sales market. Egypt is ready to facilitate this,” stressed the representative of Egypt.
In his opinion, our suppliers should work more actively both with the Egyptian embassy in Kiev and the Ukrainian embassy in Cairo. This will facilitate the passage of bureaucratic procedures and reduce the likelihood of becoming victims of fraud.
“Ukrainian businessmen should check with the Egyptian embassy or the Chamber of Commerce the authenticity of the documents of those organizations with which they cooperate. And only after that, conclude a contract according to all international rules. You should not believe the promises and pretty eyes, and do not forget the basics of doing business in the field of export-import. I wish all businessmen in Egypt and in Ukraine only success,” said Dr. Atia Walid.
See more details in the video:
You can subscribe to the Club of Experts channel by following the link:
ATIA_VALID, BUSINESS, CLUB_EXPERTS, CLUB_EXPORTERS, EGYPT, EXPORT, GOODS, IMPORT, LITVINOVA, TRADE, UKRAINE, URAKIN
Russian attacks on critical infrastructure facilities in October accelerated the fall in GDP to 39% from October 2021, which is worse than in September-August – 35%, said First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Svyrydenko at a meeting with representatives of the American media.
The fall in Ukraine’s GDP in 2022 could be 33-35%, Finance Minister Serhiy Marchenko said at a briefing in Kyiv.
Massive Russian missile strikes on the Ukrainian energy infrastructure, which began in October, stopped the trend of slowing down the decline in the Ukrainian economy, its forecast for the year has been worsened from 32% to 35%, the ICU investment group reports in an updated macroeconomic forecast.
Dragon Capital investment company, one of the leaders in the Ukrainian market, worsened its forecast for a decline in real GDP this year by 2 percentage points, to 32% and retained its forecast for a decline in 2023 by another 5%, despite the improvement in the key assumption about the course of the war.
Exports of goods from Ukraine in October fell by 8.2% compared to September, to $3.805 billion, while imports rose by 2.6%, to $4.615 billion, Deputy Economy Minister and Trade Representative Taras Kachka said.
The deficit of Ukraine’s foreign trade in goods in January-September 2022 increased 2.4 times compared to the same period in 2021, to $5.419 billion from $2.264 billion.
The growth of consumer prices in Ukraine in October 2022 accelerated to 2.5% from 1.9% in September, 1.1% in August and 0.7% in July.
The money supply in Ukraine (M3), after growing by 0.8% in September, added another 2.3% in October, or UAH 52.6 billion, to UAH 2.330 trillion, the National Bank of Ukraine (NBU) said.
Ukraine, which has achieved a deferral of repayment and payment of a significant part of external obligations to private creditors and the Paris Club, may enter into negotiations on the final terms of restructuring for the state debt closer to the end of the war, Deputy Head of the President’s Office Rostyslav Shurma has said.
Economic Monitoring’s Project Manager – PhD in Economics, Maksim Urakin
During the last two months a series of scientific and practical seminars-tastings of vintage drinks of 20-80 years old were held on the basis of Analytical center “Club of experts” with the assistance of a public association “Ukrsadvindindprom” and Charity fund “Reconstruction and development of Ukraine”. Representatives of Ukrainian wine industry, retail, mass media and other experts took part in these seminars.
All in all, participants of the workshops got acquainted with more than 40 kinds of vintage alcohol, produced in Ukraine and European countries in the second half of the last century. The total age of the drinks exceeds 3000 years.
In particular, such famous Ukrainian collection brands, as “Massandra sherry” from the 1980s and “Black Doctor” from 2007 were presented at the conferences. Among the European alcoholic brands the participants distinguished a rare sherry brandy “Hispano” 1870 (!), another Spanish drink “Ponche Rives” 1978, vermouth “Marsala” 1950-ies and other drinks. All in all 15 different vintage drinks were evaluated by the participants.
According to the words of the expert-collector of vintage alcoholic drinks Igor Magalas, the cost of the majority of samples which were presented at the seminars does not exceed the prices of similar drinks on supermarket shelves. At the same time, the taste and eco-friendliness of vintage drinks are an order of magnitude superior to many modern brands.
“The thing is that the automation of alcohol production lines, which became widespread at the end of the last century, led to a natural decline in quality for the sake of quantity. More than once I faced situations when at closed tastings sommelier experts preferred lower class vintage alcohol produced in the 1960s-1970s to modern expensive brands bottled in the 2000s-2010s,” Magalyas noted.
According to the expert, the reason for this is not the number of years the drink has been in the bottle, but the technological process of production at the initial stages, which largely affects the bouquet and taste of any alcohol.
Maxim Urakin, the organizer of the series of seminars, in turn, expressed hope for the further development of the vintage drinks market in Ukraine and for promotion of the culture of their consumption in the new year 2023.
“We will continue the promotion of vintage alcohol in the Ukrainian market. In Europe this product has a wide consumer audience for a long time, while in our country it is still considered “elite” and unavailable, although in my opinion it is a delusion. Therefore, the main purpose of our seminars, to make vintage alcohol more accessible to Ukrainians” – he stressed.
Vintage (molesim) in wine-making means the year of ripening of a certain grape variety which is used to produce wine, brandy, cognac or other vintage-based drinks. This indicator is important in determining the characteristics of the drink because weather and climatic conditions change every season, which may affect both positive and negative effects on the organoleptic characteristics of beverages of the same brand.
The Club of Experts is Kiev analytical center, which is engaged in researches in the field of economics, sociology and other scientific disciplines. In particular, with the assistance of the Club of experts during the last year there were held several events for the promotion of the national winemaking products.
Public Union “Ukrsadvindindprom” was a partner of the seminar and tasting. “Ukrsadvindwinprom” unites about 200 producers of fruits, berries, nuts and grapes, enterprises that process fruits and berries and produce wine, as well as scientific institutions for implementation of new scientific approaches in production.
The “Reconstruction and Development of Ukraine” Charitable Foundation has been providing extensive volunteer support to the army and civilians since the war began. In particular, with the support of KNUSA Rector Petr Kulikov, the foundation donated a modern mobile hospital for the needs of the military.
CLUB_EXPERTS, CONFERENCE, SCIENCE, UKRSADVINPROM, URAKIN, VINTAGE_WINE, WINE, WINEMAKING
The Kyiv analytical center “Club of Experts” together with the consulting company “Club of Exporters of Ukraine” and the information portal Open4business launched a new project to help Ukrainian businesses achieve success in international markets.
According to the founders of the project, at the first stage, a series of video courses will be created on the YouTube platform, with the help of which it will be possible to get acquainted with the peculiarities of doing business in the EU countries, importing and exporting goods, European certification rules, etc.
“Thanks to our project, businesses will be able to receive prompt advice and assistance from our representatives both in Europe and in Ukraine,” said Maxim Urakin, founder of the Club of Experts.
According to Evgenia Litvinova, CEO of the Ukrainian Exporters Club, the business project will include not only a series of training videos, but also the possibility of providing specialized advice to those companies that want to quickly and cost-effectively enter the European and global markets.
“For each consulting assignment of our client, we carefully select a project team, which is formed from internal and external experts who are specialists in the required industries. The presence of good contacts and reputation within the country, both in industries and with various government agencies, allows us to quickly and efficiently implement projects,” Litvinova said.
For individual advice on doing business in the EU and other countries of the world, you can fill out the online form at the link:
https://docs.google.com/forms/d/e/1FAIpQLSeit-dG6SJ9E9QtDSZ4ggqQEmn1RHyAMKfDqO90Db4cDn1ZEA/viewform
Project partners:
Exporters Club: https://people2people.com.ua/ru/
Portal Open4business: https://open4business.com.ua
Expert club channel: https://www.youtube.com/@user-nz9lh8yg9g
BUSINESS, BUSINESS_IN_EU, CLUB_EXPERTS, CLUB_EXPORTERS, HELP_BUSINESS, URAKIN, ЛИТВИНОВА
The real gross domestic product (GDP) of Ukraine in the second quarter of 2022 fell by 37.2% compared to the second quarter of 2021 after falling by 15.1% in the first quarter of this year, the State Statistics Service has published a preliminary estimate.
The decrease in real gross domestic product (GDP) of Ukraine in August 2022 compared to August 2021 is estimated at 35%, the Ministry of Economy has given such an estimate.
Ukraine’s real GDP will fall by 31% in 2022 and will recover by 8% in 2023 if half of the current major negative factors are resolved by the end of 2022, and by the end of 2023 they will disappear, predicts the investment company Concorde Capital.
The recovery of Ukraine’s real GDP next year after a 32% slump this year will be negligible-4%, due to the loss of physical assets and human capital, predicts ICU investment group.
The European Bank for Reconstruction and Development (EBRD) still expects Ukraine’s economy to contract by 30% in 2022, but for 2023 it has worsened its growth forecast from 25% to 8%, according to the bank’s Regional Economic Outlook report.
Exports of goods from Ukraine in August increased by 13.9% compared to July – up to $3.363 billion, while imports decreased by 2.3% – to $4.416 billion, said the Ministry of Economy. According to its data, as a result of negative balance of Ukraine’s foreign trade in goods in the past month decreased to $1.053 billion from $1.569 billion in July and $1.549 billion in June.
Ukraine’s merchandise trade deficit for the first half of September 2022 was only $111 million compared to $1.05 billion in August, Deputy Economy Minister – Trade Representative of Ukraine Taras Kachka said on Facebook on Thursday.
The draft state budget for 2023 provides for UAH 1.28 trillion of revenues and UAH 2.57 trillion of expenses, said Prime Minister of Ukraine Denis Shmygal.
Ukraine’s consolidated balance of payments deficit in July 2022 was $299 million compared to a surplus of UAH 484 million in July last year, the National Bank of Ukraine (NBU) said on its website.
Ukraine’s international reserves as of September 1, 2022, according to preliminary data, amounted to $25 billion 436 million (in equivalent), which is 13.6% more than at the beginning of June ($22.757bn), according to the National Bank of Ukraine.
Consumer price growth in Ukraine accelerated to 1.1% in August 2022 from 0.7% in July, the State Statistics Service (Gosstat) said.
Taxable imports of land vehicles to Ukraine in January-August 2022 decreased by 53% compared to the same period in 2021, to $2.191bn.
Head of the project “Economic Monitoring” candidate of economic sciences Maksim Urakin
