Business news from Ukraine

U.S. SETS FINAL DUTIES ON SEAMLESS STEEL PIPES INCLUDING FROM UKRAINE

The U.S. Department of Commerce, following antidumping investigations of seamless carbon and alloy steel standard, line, and pressure pipes from Russia, South Korea and Ukraine, has announced the size of the final duties.
According to the information on the official website of the International Trade Administration, the final dumping level (the amount of antidumping duties) for seamless pipes from Korea is set at 4.48% for all Korean companies, including ILJIN Steel Corporation) and 4.44% is the dumping margin with an adjustment to offset export subsidies. For Russian companies, including TMK it is 209.72%, for Ukrainian companies, including Interpipe it is 23.75%.
In addition, countervailing duties have been set for all Korean companies in the amount of 1.789%, for ILJIN Steel Corporation – 1.78%, for all Russian companies – 48.38%.
The duties will be imposed in the event of a positive final decision from the U.S. International Trade Commission (ITC). The ITC shall make its decision on August 9 of this year, and the order shall be issued on August 16.
The published documents state that 11,471 tonnes were imported from the Russian Federation to the United States in 2020, in 2019 – 39,634 tonnes, in 2018 – 38,024 tonnes, from South Korea – 23,068 tonnes, 17,112 tonnes and 15,839 tonnes, from Ukraine – 32,801 tonnes, 43,667 tonnes and 38,974 tonnes, respectively.

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AMBASSADOR OF UKRAINE TO UN MAY BECOME NEW UKRAINE’S AMBASSADOR TO U.S.

President of Ukraine Volodymyr Zelensky may appoint Ambassador of Ukraine to the UN Volodymyr Yelchenko as the ambassador of Ukraine to the United States of America, the Ukrainian Voice of America service reports.
“At this post [Ukrainian Permanent Representative to the UN], an experienced diplomat Yelchenko repeatedly resolutely maintained Ukraine’s position, often in fierce exchanges of remarks with the Russian delegation during the organization’s meetings,” it said.
Zelensky said during a press marathon on October 10 that he had decided on the candidacy of the ambassador to the United States, but did not say who he had chosen.
“A person has been chosen, this is experienced person, a diplomat, who knows the United States very well. I think he will be appointed in the near future,” Zelensky said then.
Earlier, Valeriy Chaly held the post of ambassador.

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UKRAINE HAS EXCLUSIVELY DEVELOPED MEDICINES REGISTERED IN EUROPE, U.S.

Ukraine has exclusively developed medicines, which will be registered by regulatory agencies of Europe and the United States, Director General of YURiA-PHARM pharmaceutical company Dmytro Derkach.
Commenting on the study of the data about the market of drugs with insufficient evidence base initiated by Anti Corruption Action Centre (AntAC) with the support of the International Renaissance Foundation last week, he told Interfax-Ukraine that “according to the logic of the authors of this study, only drugs originating from the countries with regulatory authorities FDA (the United States) or EMA (the European Union) have the “proven effectiveness,” that is, Ukraine has no right to own inventions and developments.”
“The authors reject the idea that Ukraine has its own scientific and industrial potential, which is also capable of giving the world original and effective medicines or methods of treatment, and with the assistance of the state, capable of registering its products with the FDA and EMA regulatory authorities. It takes time and resources. Ukraine chose the path of European integration only a few years ago,” he said.
Derkach said that YURiA-PHARM is currently “on the way to register their products in the FDA and EMA.” Reosorbilact preparation is the process of registration, which is mentioned in the research materials as a drug that is among the top ten in terms of pharmacy sales, but at the same time, according to the authors of the study, not having clinically proven effectiveness.
According to Derkach, Reosorbilact is the development of domestic scientists of the Lviv Research Institute of Blood Pathology and Transfusion Medicine of the National Academy of Medical Sciences of Ukraine. As an original drug, it was registered early 2000s, having passed all the phases of clinical trials in accordance with the current legislation and legal acts of Ukraine. It has become the basis of numerous scientific research and defending candidate and doctoral dissertations during the past years. Currently, it is registered in Uzbekistan, Tajikistan, Azerbaijan, Kazakhstan, Moldova and Kyrgyzstan, in most countries of the former CIS.
According to Derkach, “in fact, the authors of this study question the professional competence of the domestic scientific medical and pharmaceutical community.”
YURiA-PHARM Corporation is a manufacturer of infusion solutions, medicines and medical products. It is among top ten leaders in pharmacy sales.
YURiA-PHARM is a member of the Association Manufacturers of Medications of Ukraine (AMMU).

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U.S. CAN PROVIDE $78 MLN IN ADDITIONAL TECHNICAL ASSISTANCE TO UKRAINE – MEDT

The United States intends to provide Ukraine with $78 million in additional international technical assistance, reads a statement posted the website of Ukraine’s Ministry of Economic Development and Trade (MEDT).
“The Cabinet of Ministers on August 22 approved the signing of additional agreements to the September 14, 2014 agreement on the fulfillment of a task in the sphere of development between the governments of Ukraine and the United States of America on improving transparency of governance and stable economic development. The respective orders were prepared by the Ministry of Economic Development and Trade in connection with the intentions of the U.S. government to provide additional funds for the implementation of the goals envisaged by the agreement,” the report says.
In particular, the U.S. government intends to allocate $54.4 million in additional international technical assistance to ensure the accessibility of investment activities to the middle class in Ukraine, strengthen the potential of the private sector of the economy and improve energy efficiency and energy security, the ministry said.
“Thus, the total amount of technical assistance for these goals under the agreement, taking into account additional funds, will exceed $139 million,” the ministry added.
According to the report, the signing of additional agreements also provides for the provision of $23.6 million for governance reform. In particular, this includes bringing Ukrainian legislation into line with European standards, improving the functions of public oversight, as well as increasing the level of government accountability. For these purposes, the total amount of technical assistance, taking into account additional funds, will be $62 million, the press release reads.

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