Business news from Ukraine

AMERICAN CHAMBER OF COMMERCE IN UKRAINE URGES INTERDEPARTMENTAL COMMISSION ON INTERNATIONAL TRADE NOT TO IMPOSE DUTY ON IMPORTED WIRES

The American Chamber of Commerce in Ukraine urges members of the Interdepartmental Commission on International Trade (ICIT) not to introduce special measures in the form of the special duty on imported wires to Ukraine, regardless of the country of origin and export, the Chamber said in a Monday press release.
On March 29, 2021, the Ministry for Development of Economy, Trade and Agriculture of Ukraine published the Basic Facts and Conclusions on the Special Investigation on the Import of Wires to Ukraine Regardless of the Country of Origin and Export. According to the basic facts and conclusions, the Ministry recommends introducing special measures in the form of the special duty of 23.5% for three years (with the subsequent liberalization).
“The potential introduction of the special duty on import will in fact, turn into the extra tax to be paid by the telecommunication industry. It will adversely affect mobile operators’ investment capacity because instead of investing in infrastructure, mobile operators will have to pay additional duties,” the Chamber said.

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PRESIDENT OF UKRAINE: TRADE BETWEEN UKRAINE AND QATAR DOUBLES

President of Ukraine Volodymyr Zelensky has said that in 2020, bilateral trade between Ukraine and Qatar doubled, despite the spread of the coronavirus pandemic, the press service of the head of state reported.
“Trade and economic cooperation underpins our relations with Qatar. I am pleased that bilateral trade following the results of such a difficult “pandemic” year 2020 reached high levels – almost $150 million. This is twice as much as, for example, in 2018. And this year, the momentum of trade between our countries has also been increased,” Zelensky’s press service said, quoting the president as saying in an interview with Qatari media outlets.
According to Zelensky, “the potential for trade and economic cooperation with Qatar can be much higher.”
Among examples of opportunities for bilateral economic growth, Zelensky noted the concession of the Ukrainian port of Olvia by the Qatari company QTerminals, as well as the implementation of domestic Ukrainian national programs to attract foreign investors.
He recalled that “in February 2021, he signed a law on so-called “investment nannies,” which provides strategic investors, whose investment amount exceeds EUR 20 million, with state support.”
In addition, “the Big Construction project, which provides for the construction of roads and other infrastructure facilities, is promising for investors.”
Also, according to Zelensky, “in the summer of 2021, a land reform, which establishes transparent relations in the agricultural sector and creates conditions for investing in livestock, agricultural processing, and logistics infrastructure, will start in Ukraine.”

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TOP 20 COUNTRIES UKRAINE HAS POSTED THE HIGHEST SURPLUS OF TRADE IN GOODS IN 2020 (THSD USD)

Top 20 countries Ukraine has posted the highest surplus of trade in goods in 2020 (thsd usd).

SSC of Ukraine

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TOP 20 COUNTRIES UKRAINE HAS POSTED THE HIGHEST SURPLUS OF TRADE IN GOODS IN JAN-NOV OF 2020 (THSD USD)

TOP 20 countries Ukraine has posted the highest surplus of trade in goods in Jan-Nov of 2020 (thsd USD).

SSC of Ukraine

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TOP 20 COUNTRIES UKRAINE HAS POSTED THE HIGHEST SURPLUS OF TRADE IN GOODS IN JAN- OCT OF 2020 (THSD USD)

Top 20 countries Ukraine has posted the highest surplus of trade in goods in Jan-Oct of 2020 (thsd USD).

SSC of Ukraine

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UKRAINE OPEN TO NEGOTIATIONS ON TRADE LIBERALIZATION WITH SERBIA, ALBANIA AND BOSNIA AND HERZEGOVINA

Ukraine is open to negotiations on trade liberalization with Serbia, Albania and Bosnia and Herzegovina, Deputy Minister of Development of Economy, Trade and Agriculture, Trade Representative of Ukraine Taras Kachka has said.

“We have a free trade area with part of the region’s countries through the Ukraine-EU Association Agreement. We have bilateral free trade area agreements with North Macedonia and Montenegro. And we are always open to talks about trade liberalization with Serbia, Bosnia and Herzegovina and Albania,” the trade representative wrote on Facebook.