Business news from Ukraine

UKRAINE INTERESTED IN INCREASING OF TRADE WITH SRI LANKA

Sri Lanka is interested in increasing the supply of food and industrial products to the Ukrainian market, the Ministry of Economy said following a meeting between Deputy Minister, Trade Representative of Ukraine Taras Kachka and State Minister of Regional Cooperation of Sri Lanka Tharaka Balasuriya. “The participants expressed interest in increasing the supply of food [tea, coffee, fruit] and industrial [textiles, clothing] products to the Ukrainian market,” the ministry said on its website on Friday.
In addition, the parties noted the prospects for cooperation in aircraft and shipbuilding, supplies of Ukrainian metallurgy products, energy and transport engineering, chemical industry and agriculture, recreational cooperation and tourism.
“The basis of our exports to Sri Lanka is traditionally agricultural products – vegetables, grains, oilseeds. Obviously, the trade potential between our countries has not yet been revealed. We, in turn, are open to cooperation in the trade and economic sphere and the implementation of joint business projects,” the ministry’s press service said, citing Trade Representative of Ukraine Taras Kachka.
The parties confirmed their readiness to create a joint intergovernmental commission as a platform for the development of trade and economic cooperation, the ministry said.
According to the State Statistics Service, the negative balance of trade with Sri Lanka in the first half of 2021 amounted to $10.154 million with an increase in Ukrainian exports to this country by 12.8% – to $9.22 million and an increase in imports from Sri Lanka to Ukraine by 18.1% – to $19.37 million over the specified period.

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UKRAINE AND SRI LANKA WAVE VISAS FOR CITIZENS WITH DIPLOMATIC, SERVICE OR OFFICIAL PASSPORTS

Minister of Foreign Affairs of Ukraine Vadym Prystaiko and State Secretary of the Ministry of Foreign Affairs of Sri Lanka Ravinatha Aryasinha, during the 74th session of the UN General Assembly, signed an agreement on visa waiver of citizens who use diplomatic, service or official passports.
“Prystaiko and Aryasinha have signed an agreement between the Cabinet of Ministers of Ukraine and the Government of the Democratic Socialist Republic of Sri Lanka on visa waiver for citizens who use diplomatic, service or official passports,” the Foreign Ministry of Ukraine reported on Friday.
The parties discussed topical issues on the agenda of relations between the two countries, emphasizing the importance of intensifying political dialogue and enhancing interaction within international organizations. Issues of protection of interests of citizens of Ukraine and Sri Lanka were separately discussed.

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SRI LANKA AND UKRAINE TO CREATE COMMISSION ON TRADE

Ukraine and Sri Lanka will sign an agreement on the establishment of a joint intergovernmental commission on trade and economic cooperation. The corresponding decision was made at a meeting of the Cabinet of Ministers of Ukraine in Kyiv on May 10. The draft agreement establishes the procedure for the establishment and functioning of such a commission, its authorities, the frequency of meetings and the legal status of the decisions it takes.
As reported, in late March, Ukrainian President Petro Poroshenko approved the composition of the delegation to participate in the negotiations with Sri Lanka on the harmonization of the draft interstate agreement on the promotion and mutual protection of investments.

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