Business news from Ukraine

ICC UKRAINE, EBRD AND UKREXIMBANK WILL HOLD FORUM ON TRADE FINANCE ISSUES ON OCT 4

KYIV. Sept 12 (Interfax-Ukraine) – The Ukrainian National Committee of the International Chamber of Commerce (ICC Ukraine) together with the European Bank for Reconstruction and Development (EBRD) and state-controlled Ukreximbank (Kyiv) will hold the Ukrainian forum on trade finance issues entitled “Trends of Trade between Ukraine, Asia and the Middle East” in Kyiv on October 4.
Vice President of ICC Ukraine Ihor Hres said at a press conference at Interfax-Ukraine on Monday that representatives of the government, the National Bank of Ukraine, state and commercial Ukrainian banks, Asian banks and banks of the Middle East will take part in the forum. The target audience of the event is specialists in trade financing in the banking sector, foreign economic activity subjects, transport-expeditionary companies, insurance and legal companies.
The aim of the forum is to reveal the basics of international trade and finance for expanding trade in international markets, acquaint with the international banking practices on the effective use of trade finance instruments. Presentation of participants in the event will be accompanied by interactive case studies and situation modeling.

UKRAINE’S TRADE MISSIONS STARTS WORKING IN DELHI – ECONOMY MINISTRY

KYIV. Sept 12 (Interfax-Ukraine) – Ukraine’s trade mission has been launched in Delhi. Negotiations of Ukraine’s Economic Development and Trade Ministry with the Ministry of Commerce and Industry, the Ministry of Shipping and the Ministry of Agriculture of India will be held, according to a posting on Ukraine’s Economic Development and Trade Ministry
“This mission focuses on two sectors: agriculture, engineering and production. Ukrainian goods in these sectors are competitive on the Indian market. We see a large interest to the Ukrainian business,” Deputy Minister of Economic Development and Trade, Ukraine’s Trade Representative Natalia Mykolska wrote on her Facebook page on Monday who chairs the mission.
The ministry said that the main task of the trade mission is to present Ukrainian goods and services on the Indian market. The Export Promotion Office and representatives of Ukrainian business take part in the mission.

Kyiv International Economic Forum “Ukraine and the World in the New Economic Reality”

We are very honored to invite you to the Kyiv International Economic Forum, a major international conference focused on the future of economic development. It will take place on October 5-6 in Kyiv (Ukraine), under the patronage and with participation of the Prime Minister of Ukraine Volodymyr Groysman.
It is not just an event about or for Ukraine, but an innovative forum that covers the global agenda. KIEF has been envisioned to become a leading discussion platform at an intersection of civilizations based in the capital of the biggest country in Europe.
KIEF 2017 “Ukraine and the World in the New Economic Reality”‘ will be dedicated to the main challenges of the 21st century with focus on the 4th Industrial Revolution, digital and sharing economy, the new age in education and leadership, and sustainable and inclusive economic development.
Each year KIEF gains more and more recognition from the international community, and this year it is expected to congregate over 1,500 participants from business and politics, leading economic experts, social and opinion leaders from Europe, CIS, Asia, Middle East and North America. Over 100 outstanding speakers from more than 20 countries will gather to share their vision of substantial changes needed to enable new approaches to the global economic development.
To find out more about KIEF 2017, program and speakers and to participate in the event please visit and register at www.forumkyiv.org. Also, a short video report about KIEF 2016 is available online
If you have any questions do not hesitate to contact KIEF Organizing Committee: info@forumkyiv.org,+380 44 496 30 38
We look forward to welcoming you at the KIEF 2017!

HOLTEC TO START ACTIVE PHASE OF BUILDING SMALL REACTORS SMR-160 IN 2023 WITH POSSIBILITY OF LOCALIZATION IN UKRAINE

KYIV. Sept 11 (Interfax-Ukraine) – Holtec International (the United States) in 2023 will start the active phase of building small module reactors SMR-160, President of Ukrainian National Nuclear Generating Company Yuriy Nedashkovsky said at a ribbon-cutting ceremony for a new plant of the company in New Jersey (the United States).
According to a posting on the website of Energoatom, Nedashkovsky said that earlier President of Holtec International Chris Singh made a proposal to Ukrainian President Petro Poroshenko to create a hub in Ukraine to sell small module reactors to Europe, Asia and Africa with localization of production facilities and the large amount of equipment at Ukrainian enterprises.
Nedashkovsky said that Kharkiv-based Turboatom has turbines suiting SMR-160. There is a chance of attracting other Ukrainian enterprises to the project.
He said that the start of licensing of SMR-160 could start in 2018.
He said that SMR-160 reactors are rather cheap compared to more powerful reactors. They can be installed in small areas and do not require powerful lines. Nedashkovsky said that the need in SMR-160 after 2025 is estimated at $1 trillion.
“These reactors have an increased level of safety due to the fact that they use passive safety systems: that is it has no pumping equipment, reinforcement and other things which require external power supply,” the president of Energoatom said.
The plant, built by Holtec in New Jersey, is mainly focused on two spheres: production of container fleet for spent nuclear fuel, as well as vessels for small modular reactors of the SMR-160 project.

FISCAL SERVICES MARKETS WATCHDOG REGISTERS NEW INSURER DAR

KYIV. Sept 11 (Interfax-Ukraine) – The National Commission for Regulation of Financial Services Markets in Ukraine by its resolution dated September 7, 2017 included Dar insurance company (Kyiv) to the state register of financial organizations, the regulator’s website says.
According to the unified state register of legal entities and individuals, the founders of the company are Bureau of Business Technologies LLC (Kyiv), whose contribution amounted to UAH 35.993 million, and two individuals with the contributions of UAH 3,600.
The regulator notes the company will carry out risk insurance, reinsurance, agent and broker activities.

STATE FOOD-GRAIN CORPORATION TO SUPPLY UP TO 300,000 TONNES OF GRAIN TO CHINA’S CCEC BY LATE 2017

KYIV. Sept 11 (Interfax-Ukraine) – Public joint-stock company State Food-Grain Corporation has arranged the supply of several batches of grain crops in a total amount of up to 300,000 tonnes to China Complete Engineering Corporation (CCEC) by late 2017.
“In the past two months we held several meetings with representatives of China’s CCEC. Today, during the negotiation we discussed the potential of developing trade relations between our companies and the ‘uniqueness’ principles of our partnership. It has been arranged that several batches of grain, corn and wheat in the total amount of up to 300,000 tonnes will be supplied to CCEC by late 2017,” First Deputy Board Chairman of the corporation Vitaliy Shulezhko said.
As reported, China’s CCEC said that after reshuffling of top managers in State Food-Grain Corporation in May 2017 trade operations between the companies were suspended.
“Since May this year, due to some changes in the top managers of State Food-Grain Corporation, as a result of which the trade operations between the parties have almost stopped, the current agreed volumes of grain supplies will be difficult to observe. The new grain harvesting began, and we would urge the State Food-Grain Corporation to start a new seasonal grain trade in the shortest possible time and make every effort to promote the development of bilateral trade,” CCEC President Yang Jing said in a letter sent to the Agrarian Policy and Food Ministry.
In connection with the situation, the Chinese corporation expressed hope that the Agrarian Policy and Food Ministry will help “urging the State Food-Grain Corporation to return to normal business” in order to maximize the annual volume of trade.
The government in August 2010 decided to create the State Food and Grain Corporation of Ukraine. The corporation has a chain of branches, comprised of grain storage facilities, flourmills, fodder factories and a cereals factory. The 53 subdivisions of the corporation can store a total of 3.75 million tonnes of grain, which includes the grain handling capacities of Odesa and Mykolaiv ports of some 2.5 million tonnes of grain cargo per year.