Business news from Ukraine

Business news from Ukraine

Zelenskyy Will Make His First Official Visit to Serbia Tomorrow

According to “Serbian Economist”, Ukrainian President Volodymyr Zelenskyy will pay an official visit to Serbia on August 8 and meet with Serbian President Aleksandar Vučić in Belgrade. The Serbian president’s press service has officially confirmed the visit. This will be Zelenskyy’s first visit to Serbia during his presidency.

A detailed agenda for the talks has not yet been published. However, judging by the contacts between Belgrade and Kyiv in recent months, the central topics are likely to include bilateral relations, the European integration of both countries, the expansion of economic cooperation, a possible free trade agreement, regional security, and Serbia’s participation in Ukraine’s reconstruction.

In May, Zelenskyy and Vučić had already discussed the development of bilateral relations over the phone. At that time, the Ukrainian president placed particular emphasis on resuming negotiations on a free trade zone with Serbia. Vučić, for his part, cited economic cooperation as one of the key areas for further rapprochement between the two countries.

Following this, talks between representatives of the two countries’ governments took place in Belgrade. On May 21, Serbian Minister of Domestic and Foreign Trade Jagoda Lazarević and Ukrainian Deputy Prime Minister and Trade Representative Taras Kachka signed a joint statement on the continuation of negotiations on a free trade agreement. At the same time, a Serbian-Ukrainian business forum was held with the participation of representatives from about 30 companies.

The upcoming visit continues a noticeable revival of political contacts between Belgrade and Kyiv.

In June 2025, Vučić visited Ukraine for the first time since the start of the full-scale Russian-Ukrainian war, taking part in the “Ukraine–Southeast Europe” summit in Odesa. At that time, he reaffirmed Serbia’s support for Ukraine’s territorial integrity and offered Serbia’s participation in the reconstruction of one or more Ukrainian cities or regions.

On July 15, 2026, Vučić was in Ukraine again—for the 5th “Ukraine–Southeast Europe” summit in Kyiv.

At the same time, Serbia’s position on the war remains unique. Belgrade supports Ukraine’s territorial integrity and has voted in favor of a number of relevant international documents, provides humanitarian aid, but has not joined the EU sanctions against Russia. Vucic has also repeatedly avoided signing certain regional declarations insofar as they called for increased pressure on Moscow.

Therefore, the very fact of the Ukrainian president’s visit to Belgrade carries political significance: Serbia is attempting to simultaneously maintain traditional relations with Russia, develop relations with Kyiv, and continue its path toward EU membership.

Another topic of discussion could be the new regional Carpathian Initiative proposed by Ukraine. Zelenskyy has previously stated that Serbia, in particular, is planned to be involved in the initiative, and cooperation could cover the economy, logistics, security, tourism, and Ukraine’s reconstruction.

The economic aspect of the visit is particularly relevant against the backdrop of the resumption of bilateral trade.

According to official data from the Serbian Ministry of Foreign Affairs and the country’s Statistical Office, trade between Serbia and Ukraine totaled 391.8 million euros in 2025. Serbia exported goods worth 179.6 million euros to Ukraine and imported Ukrainian products worth 212.2 million euros. Thus, the trade balance remained in Ukraine’s favor by approximately 32.6 million euros.

In dollar terms, according to Marko Čadež, president of the Serbian Chamber of Commerce and Industry, bilateral trade reached $442.2 million, practically returning to the level of the last pre-war year, 2021. Serbian exports totaled $202.9 million, while Ukrainian exports to Serbia amounted to $239.3 million. About 900 Serbian companies conduct trade with Ukraine, including approximately 670 that import Ukrainian goods.

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Director-General of International Committee of Red Cross has arrived in Ukraine for five-day visit

The Director-General of the International Committee of the Red Cross (ICRC), Pierre Krehhenbühl, has arrived in Ukraine and will spend the next few days in Lviv and Kyiv.

According to the ICRC press service, Krehhenbühl will hold meetings with Ukrainian authorities and the Ukrainian Red Cross.

“Mr. Krehhenbühl is visiting Ukraine during one of the harshest winters in recent years, when critical infrastructure across the country is suffering extensive damage from strikes. For many people across Ukraine, the consequences of these attacks on electricity and heating systems are extremely severe. Mr. Krechenbühl will meet with workers who are involved in the ongoing support provided by the ICRC, particularly to frontline communities,” the statement said.

During his visit, Krechenbühl will also meet with families of those who are missing, presumed or confirmed dead in combat or captured, to listen to these families and give them an opportunity to ask questions.

Together with the head of the delegation in Ukraine, Juan Pedro Scherer, he will meet with medical staff and patients at two facilities supported by the ICRC: the Burn Center of Kyiv City Clinical Hospital No. 2 and the Rehabilitation Department of Kyiv Regional Clinical Hospital. Krehhenbühl will also visit the Single Center for the Identification of Deceased Persons in the village of Tsybli, Kyiv region, which also receives support from the ICRC.

Since February 2022, the ICRC has increased the scope of its activities. During the winter season of 2025-2026, this assistance included: Cash assistance to more than 18,000 residents of frontline areas to purchase essential items before the onset of winter; Support for critical heating infrastructure, in particular the Mykolaiv and Kherson thermal power plants, the Teplokommunenergo municipal enterprise in Chernihiv, and municipal heating companies in Zelenodolsk, Dnipropetrovsk region, which provide heat to around 435,000 people; 35 providers of essential services, including 10 hospitals, received 2,635 tons of fuel briquettes to ensure heat supply during the winter.

The ICRC has been active in Ukraine since 2014 and currently has more than 750 staff working throughout the country.

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Bulgarian Prime Minister Denkov arrives in Kyiv on visit

Bulgarian Prime Minister Nikolay Denkov and a government delegation have arrived in Ukraine on a visit, Bulgarian National Television (BNT) reports.

The delegation also includes the ministers of justice, environment and energy – Atanas Slavov, Yulian Popov and Rumen Radev, deputy ministers of defense and foreign affairs – Stanimir Georgiev and Tikhomir Stoychev, as well as the head of the Defense Ministry, Admiral Emil Eftimov.

Details of the visit were not disclosed.

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Turkish President may visit Russia – Turkish media

Turkish President Recep Tayyip Erdogan may visit Russia to discuss with his Russian counterpart Vladimir Putin the extension of the Black Sea Grain Initiative, Yeni Şafak reported on Tuesday, citing sources in the administration of the Turkish president.

According to the publication, “the upcoming visit of President Erdogan to Russia is of critical importance for the deal.” The estimated dates of the trip are not named.

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President of Ukraine and his wife went on working visit to Sweden

The President of Ukraine Volodymyr Zelensky together with his wife Olena Zelensky went on a working visit to Sweden.
“Working visit together with the first lady to Sweden. Meetings with Prime Minister Ulf Kristersson, King Carl XVI, Queen Silvia, Speaker Andreas Norlen and heads of parliamentary parties. Extensive Ukrainian-Swedish talks. I will personally thank Sweden for the support of our struggle for freedom and independence,” – said the head of state in his Telegram.
As the President noted, the primary task of the visit is to strengthen Ukrainian soldiers on the ground and in the sky, the development of bilateral cooperation, in particular in the defense industry, European integration of Ukraine and common security in the Euro-Atlantic space, as well as Sweden’s full support for Ukraine on its way to NATO.
“We are confident that together we will guarantee reliable peace in the entire Baltic-Black Sea-Azov region,” Zelensky wrote.

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Ukrainian Foreign Minister to visit Equatorial Guinea

Ukrainian Foreign Minister Dmytro Kuleba starts his third tour of African countries, on July 23-24 the foreign minister will visit Equatorial Guinea for the first time, the ministry’s press service reports.
“Ukrainian Foreign Minister Dmytro Kuleba will visit the African continent for the third time amid the worsening global food crisis following Russia’s withdrawal from the Black Sea Grain Initiative. On July 23-24, the Ukrainian Foreign Minister will start his tour with a visit to Equatorial Guinea. The visit will be the first in the history of diplomatic relations,” the statement said, published on Sunday morning.
It is noted that in Malabo, the Foreign Minister will hold talks with the leadership of Equatorial Guinea on the development of bilateral relations, increasing trade, as well as on ensuring food security in Africa and support for the “Formula of Peace” of President Volodymyr Zelensky.
The press service reminds that in January 2022, the African Strategy of Ukraine was approved. Within the framework of this strategy, contacts with African countries were significantly intensified through the Ukrainian President, the Foreign Ministry and parliamentary diplomacy.
Kuleba made his first African tour in October 2022, where he visited Senegal, Cote d’Ivoire, Ghana and Kenya, and his second tour in May 2023, visiting Morocco, Ethiopia, Rwanda, Mozambique and Nigeria.
“Developing relations with African countries strengthens the global coalition in support of Ukraine against the backdrop of Russian aggression and creates new opportunities for Ukrainian businesses and citizens. The third African tour of Dmitry Kuleba is a continuation of the African strategy and the renaissance of Ukrainian-African relations”, – emphasized in the message.

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