Business news from Ukraine

FLOW OF AGRICULTURAL GOODS BETWEEN UKRAINE-EU TOTALS $2.2 BLN IN JAN-MAR

The flow of agricultural goods between Ukraine and the European Union (EU) in January-March 2018 totaled $2.2 billion, according to a posting on the website of the Institute of Agrarian Economy research center. Deputy Director of the center Mykola Puhachev said that the surplus was $845 million. “In Q1 2018, both imports grew by 27%, to $669 million and exports by 15%, to $1.513 billion year-over-year,” he said.
The largest trade partners of Ukraine in the EU are Spain, the Netherlands, Italy, Poland, Germany and France, with the total share of the agricultural goods flow of over 72%. According to the report, grain and oilseeds, as well as sunflower oil and meal provide for the main volumes of supplies from Ukraine to Europe.
Ukraine imports mainly grain, oilseeds, cacao beans and chocolate, various food, waste of processing industry, spirit and alcohol.
Puhachev said that in January-March 2018, Ukrainian exporters fully used duty free quotas for what, corn, honey, apple and grape juices, malt, the quarterly quota for poultry and the half-year quota for butter. For other food the average usage of quotas is rather low.
“In 2018, the quotas for some goods are growing as it was planned, in particular, sugar, starch, juices, barley cereal, wheat, corn, lamb meat and other products. In addition, preferential quotas for eight goods are in effect for Ukraine: honey, grape juice, barley cereal, preserved tomatoes, oats, wheat, corn and barley,” the expert said.

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EU DELEGATION HEAD TO UKRAINE SAYS CONTINUING FIGHT AGAINST CORRUPTION WILL ATTRACT FOREIGN INVESTORS

Head of the Delegation of the European Union to Ukraine Hugues Mingarelli has recalled the importance of continuing the fight against corruption to attract foreign investment in Ukraine. If we want to create the necessary jobs, we need an economic growth of 5-6%. You need to attract foreign investors for this … To do this, you need to achieve more progress in the fight against corruption and the rule of law, he said during a round table talk titled “Ukraine’s European Choice after the Revolution of Dignity: Opportunities and Problems” in Kyiv.
The European diplomat stressed the need to establish an Anti-Corruption Court in accordance with the recommendations of the Venice Commission.
We know that much has already been done and still needs to be done in the sphere of the rule of law. And we are currently discussing with the Ukrainian authorities the creation of an Anticorruption Court as soon as possible, which would correspond to the recommendations of the Venice Commission, the diplomat added.
Mingarelli also noted the need to harmonize the Ukrainian legislation with the European one.
According to him, the EU considers the law on the land market as important for realizing the potential of the Ukrainian agricultural sector.

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EU ANTI-CORRUPTION INITIATIVE EKA TKESHELASHVILI STATES IMPORTANCE OF CREATING ANTI-CORRUPTION COURT IN UKRAINE

Head of the EU Anti-Corruption Initiative Eka Tkeshelashvili has said she is convinced that without an Anti-Corruption Court the system of fighting corruption in Ukraine cannot be as effective as possible and justify all expectations. She said in an interview with the Interfax-Ukraine news agency that the Anti-Corruption Court is a key link in the fight against corruption and that the need to create it in full accordance with the recommendations of the Venice Commission had been repeatedly stressed by European partners.
Tkeshelashvili noted that the recommendations of the Venice Commission still remain a “stumbling block” in the drafting of a respective bill for second reading.
This is not just any wish on the part of Ukraine’s partners, this is a well-balanced vision of what elements must be included in this law so that the court could be really independent, effective and fulfill its role, she said.
Tkeshelashvili stressed that the fight against corruption was important, including to ensure security in Ukraine.

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UKRAINE INCREASES GOODS FLOW WITH EU TO $8.581 BLN, TRADE WITH RUSSIA GROWS BY 14.9%, TO $2.615 BLN IN Q1 2018

Ukraine in January-March 2018 increased goods flow with the European Union (EU) countries by 17.7% year-over-year, to $8.581 billion, the National Bank of Ukraine (NBU) has said on its website. The central bank said that both exports grew by 26.5%, to $4.058 billion and imports rose by 10.7%, to $4.523 billion. The deficit of balance of trade with the EU narrowed to $465 million from $878 million.
In addition, goods flow with Russia grew by 14.9%, to $2.615 billion. Imports rose by 28.4%, to $1.906 billion, while exports fell by 10.1%, to $0.709 billion. The deficit of balance of trade with Russia grew to $1.197 billion from $692 million.
The share of goods flow between Ukraine and the EU of total Ukraine’s foreign trade in January-March 2018 grew to 37.7% from 35.3% and with Russia to 11.5% from 11%.
In general, exports of goods from Ukraine in January-March 2018 grew by 10.4%, to $22.782 billion, imports – by 11.9%, to $12.359 billion and exports – by 8.6%, to 410.423 billion.

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UKRAINE IN BERLIN TO DISCUSS DEVELOPMENT OF STRATEGIC COOPERATION IN SPACE WITH EU PARTNERS

Ukraine will discuss development of strategic cooperation in the space sector with European partners at the ILA 2018 aerospace exhibition held in Berlin (Germany) on April 25 through April 29. The press service of the Economic Development and Trade Ministry, Deputy Economic Development and Trade Minister, Head of the interagency commission for defense industry at the National Security and Defense Council (NSDC) Yuriy Brovchenko, who heads the Ukrainian delegation to ILA 2018, will hold some meetings strategically important for the development of the Ukrainian aerospace sector with top managers of European agencies on the issues of partnership in the aerospace sector.
Brovchenko is to meet with top officials of the Economy Ministry, Defense Ministry of Germany, German Aerospace Center (DLR), French Centre national d’études spatiales (CNES) and the European Space Agency (ESA). ILA Berlin Air Show is a large exhibition in Europe. Leading Ukrainian enterprises of the aerospace sector – Pivdenne Design Bureau, Pivdenmash and Antonov State Enterprise (part of the Ukroboronprom State Concern) are among Ukrainian participants of ILA 2018.
Potential European partners-visitors to the Ukrainian stand at ILA 2018 are able to study themselves, among other things, the Cyclone-4M, Zenit-3SL, Mayak-33-4H promising Ukrainian launch vehicles (LV) and the Sich-2M spacecraft.

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IFC, EU AND GERMANY TO FINANCE EUR 53 MLN FUND TO IMPROVE ENERGY EFFICIENCY IN UKRAINE

Ukraine, the International Finance Corporation (IFC), the European Union and Germany have signed an agreement on the establishment of a fund to improve energy efficiency in Ukraine, the Ukrainian Finance Ministry has reported on its website. “In accordance with the agreement, up to EUR 53 million of financing provided by the EU and Germany will be under the management of IFC at the initial stage,” the Finance Ministry said. The multi-donor fund with the Ukrainian Energy Efficiency Fund will jointly finance energy efficiency projects in apartment buildings in Ukraine and provide expert support for the development of the market, the Finance Ministry said.
According to Finance Minister Oleksandr Danyliuk, the project will contribute to the creation of about 75,000 new jobs for engineers, builders and workers in the energy sector.

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