Business news from Ukraine

U.S. SENATE ADOPTS BILL INCREASING ASSISTANCE TO UKRAINE TO $300 MLN

The U.S. Senate has adopted a draft National Defense Authorization Act (NDAA), which foresees the expanded assistance to Ukraine in the sphere of security and defense in 2020 compared with 2019, the Ukrainian Embassy in the United States has reported.
“The U.S. Senate has passed a draft document proposing to expand the security assistance to Ukraine to $300 million,” the Embassy said.
According to the report, this is $50 million more than the current year’s sum. The document assigns $100 million only for lethal weapons.
“It is proposed to expand U.S. assistance in strengthening the defense capability of the Armed Forces of Ukraine by including coastal defenses; anti-ship missiles; and systems that enhance the effectiveness of troop control, in particular, air defense and coastal defense,” the Embassy said.
According to the procedure, the National Defense Authorization Act (NDAA) for 2020 will come into force after it is approved by the House of Representatives, as well as signed by the President of the United States.

, ,

U.S. READY TO SUPPORT ENERGY REFORM IN UKRAINE

Principal Deputy Assistant Secretary of the U.S. Department of State’s Bureau of Energy Resources Kent Logsdon has said at a meeting with representatives of the World Bank and the European Union that Washington is ready to support Ukraine’s energy reform programs together with international partners.
“During meetings with World Bank and EU officials, PDAS Logsdon underscored the U.S. commitment to supporting Ukraine’s energy reform agenda together with international partners,| the U.S. Embassy in Ukraine said on Twitter on Monday, June 24.

, ,

UKROLIYA SHIPS FIRST BATCH OF ORGANIC SUNFLOWER OIL TO U.S. IN JAN

Ukroliya (Poltava region) in January 2019 shipped a first batch of organic sunflower oil in the amount of 400 tonnes to the United States.
“In January 2019, we shipped the first batch of our organic oil of 400 tonnes to the United States,” PR Manager of Ukroliya Svitlana Lutsenko said at the third International Congress Organic Ukraine 2019, which took in Odesa on March 14 and March 15.
According to her, in 2018, the company exported 500 tonnes of classic organic oil, 400 tonnes of high oleic oil and 1,500 tonnes of organic sunflower oil cake.
“The projected volume of deliveries in 2019: 360 tonnes per month of organic sunflower high oleic oil; 100 tonnes per month of organic classical sunflower oil; 460 tonnes per month of organic sunflower oil cake,” Lutsenko said.
As reported, in November 2017 Ukroliya launched a plant for production of organic oil, Ukroliya Organic, in the village of Dykanka (Poltava region). Investments in it amounted to about UAH 50 million.
The company plans to process 18,000 tonnes of sunflower, 50,000 tonnes of soybeans a year, produce 7,020 tonnes of organic sunflower oil, 6,750 tonnes of organic soybean oil, 7,100 tonnes of cake, and 3,000 tonnes of sunflower husk.
Ukroliya was founded in 2001. It is engaged in production and sale of packed and bulk sunflower oil, sunflower meal, and husk. Its production facilities are located in the village of Dykanka and Zenkiv town (Poltava region).

, , ,

U.S., EU EXPERTS GIVE RECOMMENDATIONS TO PREPARE FOR 2019 ELECTIONS IN UKRAINE

The delegation of the National Democratic Institute (U.S.) and deputies of the European Parliament have prepared 51 recommendations to get ready for the 2019 elections in Ukraine, in particular, they recommended Facebook opening an office in Kyiv, regional director of programs of the Eurasian region at the National Democratic Institute Laura Jewett has said.
Facebook should open an office in Ukraine and, together with other digital platforms, unite to fight disinformation … If we are talking about fighting Kremlin interference to ensure stability in the country, then social networks and digital platforms should help Ukraine in these aspirations. All candidates must have equal access to the media. You also need to combat with the negative impact of misinformation. It is necessary to make efforts to combat manifestations of political corruption, including falsification, and to monitor the financing of parties, she said at a press conference in Kyiv on Saturday.
According to Jewett, it is also necessary to adhere to the equal gender representation of women and men.
Candidates’ campaigns should rest on constructive proposals, be aimed at unification, and the media should note that this is political advertising, not information, she explained.
In turn, MEP Dariusz Rosati noted the intensification of misinformation in Ukraine.
Our recommendations are aimed at encouraging the Ukrainian authorities to adopt key reforms in the electoral legislation and beyond, which will help ensure that the elections are fair and transparent, he explained.
MEP Rebecca Harms clarified that the need to introduce a proportional electoral system instead of a mixed one had been discussed at a meeting with Ukrainian Parliament Speaker Andriy Parubiy.
After the meeting with the CEC (Central Electoral Commission) we recommended the parliament include internally displaced persons and labor migrants in the electoral process, she added.
In addition, the delegation recommended that resources be provided to the CEC for updating technical tools to combat cyber attacks.

, , , ,

EBRD ATTRACTS U.S. NATLAW TO DEVELOP WAREHOUSE RECEIPT MARKET IN UKRAINE

The European Bank for Reconstruction and Development (EBRD), following the results of a tender, has attracted the National Law Center for Inter-American Free Trade (NatLaw) as an external adviser for the development of the warehouse receipt market in Ukraine.
The press service of the National Commission on Securities and the Stock Market said the regulator and NatLaw this week will hold a number of meetings with representatives of the capital market and specialists of state bodies to discuss supervision over the circulation of warehouse receipts in Ukraine, the certification and standardization of activities of depositories, the formation of guarantee funds, etc.
“Following the meetings, proposals will be developed to improve the legislation on warehouse receipts and recommendations how to improve the effectiveness of such a system will be made,” the document says.
The regulator said the system of warehouse receipts is a very important element in the efficient functioning of commodity exchange markets. At the same time, this instrument currently has limited application in Ukraine due to its functional shortcomings and is used only in the agricultural sector.
NatLaw is an American non-profit organization. In particular, it is engaged in providing consultations on regulatory reforms.

, ,

UKRAINE CONTINUES RAISING IRON EXPORT, HALF OF SHIPMENTS GOES TO U.S.

Ukraine in January-April 2018 increased exports of steel-making pig iron in natural terms by 87.7% compared to the same period last year, to 1.023 million tonnes.
According to customs statistics released by the State Fiscal Service of Ukraine, during this period exports of pig iron in monetary terms increased by 2.2 times, to $339.946 million.
At the same time, exports were mainly carried out to the United States (47.66% of deliveries in monetary terms), Italy (19.33%), and Turkey (10.94%).
Ukraine in January-April 2018 imported 414 tonnes of similar products for $256,000, whereas in January-April 2017 some 1,022 tonnes for $522,000. Imports were carried out from Russia (67.97% of deliveries in monetary terms), and Germany (32.03%).

, ,