Business news from Ukraine

RETAIL TRADE TURNOVER IN UKRAINE 6.2% UP

Retail trade turnover in Ukraine, excluding the temporarily occupied territory of the Autonomous Republic of Crimea, the city of Sevastopol and Donbas, in January-November 2018 in comparable prices increased by 6.2% compared with January-November 2017, the State Statistics Service has reported.
Retail trade turnover in November 2018 rose by 1.2% compared with October, while by 5.6% from November 2017.
The largest growth in retail trade turnover in the first 11 months of 2018 compared to the same period in 2017 was observed in Luhansk (by 27.8%), Donetsk (by 14.7%), Poltava (by 12.4%), and Zakarpattia (by 12%) regions.
The leaders in absolute terms of the volume of retail turnover for the 11 months were Kyiv city (UAH 157.37 billion), Dnipropetrovsk (UAH 75.8 billion), Kharkiv (UAH 64.61 billion), Odesa (UAH 61.877 billion), Kyiv (UAH 58.828 billion), and Lviv regions (UAH 51.362 billion).
According to the service, retail trade turnover in Donetsk region in January-November 2018 compared to January-November 2017 increased by 14.7% (to UAH 25.65 billion), Luhansk region by 27.8% (to UAH 7.27 billion).
The State Statistics Service said that trade turnover at retail enterprises (legal entities) in November 2018 compared with November 2017 grew by 5.2%, and compared to October 2018 by 1.1%, amounting to UAH 59.496 billion, for the 11 months grew by 5.8%, to UAH 595.675 billion.
In the first 11 months of 2018, wholesale turnover at enterprises rose by 4.3% compared to the corresponding period last year and amounted to UAH 2.003 trillion.

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UKRAINIAN DELEGATION TO STUDY TRADE IN COMMODITIES FUTURES IN UNITED STATES

A Ukrainian delegation will study best practices in trading in commodities futures in the United States, Yulia Vitka, the deputy head of the USAID Financial Sector Transformation project, wrote on Facebook. “A delegation from Ukraine is once again leaving for Chicago to get in-depth knowledge of the activities of commodities futures trading giants such as stock exchanges (CME), elevators (COFCO), traders (ADM) and to talk to the biggest U.S. associations in these areas, such as the National Grain Association and the National Futures Association,” Vitka wrote.
She stated the delegation will focus on the agricultural and power industries, in which Ukraine “has got all the prerequisites to turn into a regional hub.” According to her, the implementation of such an instrument will allow to promote fair competition and reasonable pricing and to attract investors.
“What can be done as of today? First of all, vote for draft law No. 9035 that not only introduces financial instruments but also creates respective safety levers so that the trade would remain within the established rules, which will be trusted and respected,” Vitka said.
As was earlier reported, experts from the National Commission on Securities and the Stock Market and the USAID Financial Sector Transformation project announced in late 2017 that within a span of five years Ukraine stands a good chance to create a futures contracts market for agricultural products that will be worth $8 billion and for energy products worth about $20 billion.

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RETAIL TRADE TURNOVER IN UKRAINE 5.4% UP, LARGEST INCREASE IN LUHANSK, DONETSK, POLTAVA, ZAKARPATTIA, KYIV REGIONS

Retail trade turnover in Ukraine in January-August 2018 increased by 5.4% in comparable prices in comparison with January-August 2017, the State Statistics Service has said. According to its data, in August 2018 in comparison with July 2018 retail trade turnover rose by 5.7%, compared with August 2017 by 7.5%.
The largest increase in retail trade turnover for the eight months of 2018 compared to the same period in 2017 was observed in Luhansk (27.9%), Donetsk (13.3%), Poltava (10.8%), Zakarpattia (10.2%), and Kyiv regions (10%). As reported, retail trade turnover in Ukraine in 2017 increased by 8.8%, amounting to UAH 816.554 billion.

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GOVERNMENT SETS UP COUNCIL FOR TRADE AND DEVELOPMENT

The Cabinet of Ministers of Ukraine has set up the Council for Trade and Sustainable Development, which will be headed by Deputy Economic Development and Trade Minister and Ukraine’s Trade Representative Natalia Mykolska, the Economic Development and Trade Ministry has reported on its website. The government made the decision on Wednesday.
“The Council’s task is to organize the work of the advisory group on trade and sustainable development in accordance with the provisions of the EU-Ukraine Association Agreement on the support of civil society, trade and development,” the report says.
The council will include representatives of government bodies and civil society.

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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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