KYIV. May 11 (Interfax-Ukraine) – ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) has almost completely stopped shipments of steel products to the Russian Federation due to economic inexpediency, but could resume deliveries if market prices increase.
“We don’t sell much in Russia. We can start supplies there. But our sales are very different from what there were before,” CEO of PJSC ArcelorMittal Kryvyi Rih Paramjit Kahlon said at a press conference at Interfax-Ukraine in Kyiv.
According to him, the recovery of the market started on March 15 this year and steel prices have grown slightly. However, prices in the Chinese market again decreased from May 2 to May 9.
“Time will show whether it was a local or global fall,” the top manager said.
Speaking on March 21 at the event, entitled “The domestic mining and steel market of Ukraine: problems and prospects”, Deputy director general of ArcelorMittal Kryvyi Rih for cooperation with state authorities and foreign communications Volodymyr Tkachenko said the situation in the steel market is extremely unfavorable this year and that all countries are therefore protecting their manufacturers and their domestic markets.
KYIV. May 11 (Interfax-Ukraine) – Ukraine expects to complete the necessary procedures for signing an agreement on the free trade area (FTA) with Canada in the summer of 2016, Canada’s Ambassador to Ukraine Roman Waschuk said in Kyiv on Tuesday.
“We hope to do it this summer,” he said.
According to Deputy Minister of Economic Development and Trade – Trade Representative of Ukraine Natalia Mykolska the agreement has been initialed and is currently undergoing legal proofreading and translation into three official languages.
As reported, Ukraine and Canada signed an agreement on the completion of negotiations on the free trade area between the two countries in July 2015.
KYIV. May 11 (Interfax-Ukraine) – The Verkhovna Rada has passed at first reading bill No. 2763 amending some Ukrainian laws regarding the revoking of obligation for official registration of foreign investment.
A total of 261 lawmakers backed the decision on Tuesday.
The lawmakers also voted in favor of the reduction of the term of preparing the bill for second reading (240 deputies).
According to an explanatory note to the document, the measure will cancel obligation of the previous official registration of foreign investment and the replacement of the official registration by the submission of statistics on foreign investment.
Obligation to register foreign investment creates obstacles for business, and the registration procedure has no informative sense, as this information is open to public.
The implementation of the measure would allow creating a modern and as simplified as possible procedure for raising investment in Ukraine.
KYIV. May 11 (Interfax-Ukraine) – Ukrainian Prime Minister Volodymyr Groysman and Director of the International Monetary Fund’s (IMF) European Department Poul M. Thomsen have discussed Ukraine’s cooperation with the IMF.
“Support is important for Ukraine in hard times, including support of the IMF. We also consider our cooperation as an opportunity of conducting structural reforms that would allow transforming Ukraine from the post-Soviet state into a modern European country,” Groysman said at a meeting with Thomsen on Tuesday, the government’s press service reported.
The prime minister said that the new Ukrainian government cleaves to the line of conducting and accelerating reforms in the country, particularly in the customs, taxation areas, transparency of public administration via public appointment of heads of state-run enterprises, improvement of the public procurement system and conducting open privatization.
“We believe that reforms are our homework, and the IMF is a strategic partner who helps use to take this difficult course,” Groysman said.
He said that jointly with the Group of Strategic Advisors for Support of Reforms in Ukraine with co-chairs Leszek Balcerowicz and Ivan Miklos the government is working on the action plan that would be presented soon.
Thomsen, in turn, welcomed the formation of the new government and said that the IMF is ready to support Ukraine in reforms.
KYIV. May 10(Interfax-Ukraine) – Japanese Ambassador to Ukraine Shigeki Sumi at a meeting with Ukrainian Interior Minister Arsen Avakov has said that his country is ready to provide support to Ukraine to develop cyber police, the communications department of the Interior Ministry has reported.
“The Japanese diplomat said that one of the key directions of cooperation between Ukraine and Japan in reforming the police is cyber security. He said that Japan backs the Ukrainian Interior Ministry’s steps to create and develop cyber police and is ready to provide the country with financial and expert assistance,” the department said.
The ambassador also said that Japan welcomes the new Ukrainian government and the country is ready to continue cooperation.
Sumi invited Avakov to visit Japan in the near future to study the principles of work of the Japanese law enforcement system.
KYIV. May 10 (Interfax-Ukraine) – United States Ambassador to Ukraine Geoffrey Pyatt has said that Metinvest in Mariupol is the example of extraordinary resilience of Ukrainian people
“Metinvest is the example of extraordinary resilience of Ukrainian people,” the press service of Metinvest Group reported, citing Pyatt during his visit to Mariupol Illich Steel Works on April 28.
According to the press release, the largest environmental project in Ukraine, Sinter Plant Modernization, was demonstrated to the U.S. diplomat. Pyatt was made aware of the role of Metinvest in the Ukrainian economy, and other investment projects of Metinvest Group, and its social partnership programs in Mariupol and other cities of the company’s presence.
Metinvest Group’s Chief Executive Officer Yuriy Ryzhenkov, General Director of Illich Steel Works Yuriy Zinchenko and General Director of Azovstal Iron and Steel Works Enver Tskitishvili attended the meeting with Pyatt.
Zinchenko informed that today major overhaul of two sinter machines has completed with installation of modern gas cleaning equipment. In 2017, Metinvest plans to build a desulphurization system and install bag filters on the first building of the Sinter Plant. After the reconstruction, the Sinter Plant will meet the best European and international emission standards – max 30 mg/m3.