Business news from Ukraine

USA CANCELS DUTY-FREE IMPORT OF 155 TYPES OF UKRAINIAN GOODS DUE TO COPYRIGHT INFRINGEMENT, LIST INCLUDES FOOD PRODUCTS, WOODWORKING INDUSTRY, ENGINEERING, ELECTRICAL APPLIANCES

The effect of the Generalized System of Preferences, which allows for duty-free import of more than 3,500 types of goods from Ukraine to the United States, has been suspended for 155 types of Ukrainian goods from April 26, the Ukrainian Economic Development and Trade Ministry reported on Saturday, May 5. “A total of 155 types of goods fall under the restrictions, in particular, some products of the food, light, woodworking industry, engineering, and some electrical appliances,” the ministry said.
The Office of the U.S. Trade Representative enacted these restrictions from April 26 this year, 120 days after the publication of the respective presidential proclamation of December 22, 2017.
“The Economic Development and Trade Ministry has been in constant dialogue with the U.S. government and is working to resolve the problem. At the same time, the lifting of the restrictions largely depends on the adoption by the Verkhovna Rada of bill No. 7466, known as the bill on the organization of collective management,” the report says. It recalls that the bill drafted by the ministry is aimed at establishing an effective and transparent system of collective management of property rights in the field of copyright and related rights in Ukraine. The document was adopted at first reading on March 1. On April 19, MPs began its consideration at second reading.

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UKRAINE CUTS IMPORT OF MEDICINES FROM RUSSIA BUT BOOSTS PHARMACEUTICAL EXPORT TO RUSSIA

Ukraine in January-February 2018 considerably increased exports of medicines to Russia, cutting their imports from the country. According to the State Statistics Service, in January-February 2018, Ukraine exported medicines for $3.5 million to Russia, which is 18% more than a year ago. Imports of medicines from Russia to Ukraine over the period fell by 40.4%, to $2.85 million.
Last year Ukraine exported medicines to Russia for $27.89 million, which is 31.9% more than a year ago, and imported medicines for $29.79 million from Russia (15.9% down). In 2017, Ukraine exported medicines for $171.17 million, including to the CIS for $143.057 million.
As reported, at present, because of the sanctions imposed on Russia, Russia is discussing the ways of replacing imported medicines and reducing dependence on foreign pharmaceutical companies. The decline in the imports of Russian medicines to Ukraine began after the introduction of the requirement of compliance of drugs with GMP standards in Ukraine.

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UKRAINE INCREASES AGRI EXPORTS TO EU BY 28%, BUT THE LARGEST IMPORTER OF UKRAINIAN AGRARIAN IS INDIA

Exports of Ukrainian agrarian products to European countries in January-February 2018 increased by 28.1%, or by $224.7 million, and amounted to $1.025 billion compared to the same period of 2017, the Ministry of Agrarian Policy and Food reported referring to the deputy minister for European integration, Olha Trofimtseva. “Thus, at the moment, the EU accounts for 36.5% of our agricultural exports,” she said.
On the whole, the foreign trade in agricultural products in the first two months of 2018 amounted to $3.7 billion, of which $2.8 billion fall for the export of Ukrainian agrarian and food products.
“In the first two months of this year, Ukrainian agrarian exports increased by $102.1 million compared to the corresponding period of 2017 and reached $2.8 billion. Our traditional export leaders are cereals with a 35.3% share, vegetable oil with 24.1% and oilseeds with 12%,” the deputy minister added. During this period, export of Ukrainian poultry meat grew by $29 million, eggs by $11.4 million, butter by $20 million, chocolate by $7.5 million, grape wines by $6.1 million, she said.
According to Trofimtseva, in January-February 2018, the largest importer of Ukrainian agrarian and food products was India, which imported Ukrainian products worth $335.9 million. The top five trade partners included Spain with $201.1 million worth of imported Ukrainian products, the Netherlands with $199.3 million, Egypt with $189.6 million and Italy with $185.6 million.

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NUMBER OF ELECTRIC CARS IMPORTED TO UKRAINE IN 2018 TRIPLES

The number of electric cars imported to Ukraine in the first quarter of 2018 tripled year-over-year, to 1,744 vehicles, according to a posting on the website of the State Fiscal Service. The authority said that in January 2018, some 784 passenger cars and other vehicles with electric engines were imported compared with 132 in January 2017, in February 2018, some 413 vehicles were imported (181) and in March – 537 (237).
As reported, in 2017, some 2,700 electric cars were imported to Ukraine.
In 2018, electric vehicles and other vehicles equipped exclusively with an electric motor are exempted from taxation by excise duty and value added tax (VAT) when they are transported to the customs territory of Ukraine.

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