Business news from Ukraine

MAIN TRADE PARTNERS OF UKRAINE IN % FROM TOTAL VOLUME (EXPORT FROM UKRAINE TO OTHER COUNTRIES) IN JAN-JUNE 2019

Main trade partners of Ukraine in % from total volume (export from Ukraine to other countries) in Jan-June 2019

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DANISH AGRO-COMPANY AGROMINO WITH ASSETS IN UKRAINE, RUSSIA AND ESTONIA POSTS EUR 6.6 MLN NET PROFIT

The Danish agro-company Agromino with assets in Ukraine, Russia and Estonia received EUR 6.6 million of net profit in January-June 2019 against EUR 2.8 million of net loss for the same period in 2018.
According to a company report on the website, total income, adjusted for the fair value of assets and reserves, for the first half of this year increased 10%, up to EUR 30.2 million.
Agromino’s EBITDA for the six months was positive and totaled EUR 10.2 million in comparison with negative indicator in p2018 – EUR 1.8 million.
Consolidated assets of the agricultural company at the end of June 2019 were estimated at EUR 92.9 million compared to EUR45.4 million by the end of 2018.
Agromino in the second quarter of 2019 saw 21% million rise in net profit against EUR 9.8 million of net profit for the same period last year. Total revenue for this period increased by 9.5%, to EUR 22.2 million.
Agromino (formerly Trigon Agri) was established in 2006. It specializes in grain and dairy production, agricultural trade.
In Ukraine, the company owns four silos with a capacity of 145,000 tonnes. Its land bank is about 45,000 hectares in Kharkiv, Mykolaiv, and Kirovohrad regions.

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UKRAINE, POLAND, U.S. SIGN COOPERATION MEMORANDUM IN GAS SECTOR

Ukraine, Poland and the United States on Saturday, August 31, signed an agreement on cooperation in the gas sector, National Security and Defense Council (NSDC) of Ukraine Oleksandr Danilyuk said.
“At a meeting with U.S. Secretary of Energy Rick Perry, which preceded the signing of the Memorandum, we discussed the importance of diversifying the risks dictated by dependence on Russian gas supplies, both for Ukraine and Poland. One of the steps to ensure energy independence of our state will be the supply of liquefied gas through Poland, “he wrote on his Facebook page on Saturday night.
Danyliuk considers the signing of the memorandum historically important for Ukraine.
“A historic day. Another step towards diversifying gas supplies to Ukraine,” Danyliuk said.

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CYPRUS AGAIN LEADER IN FOREIGN DIRECT INVESTMENT TO UKRAINE, FOLLOWED BY THE NETHERLANDS AND RUSSIA

Foreign direct investment (FDI) in Ukraine as equity capital as of July 1, 2019, was $33.724 billion, which was 2.6%, or $0.84 billion more than in the beginning of the year, the State Statistics Service of Ukraine said. According to the data, the inflow of FDI for the sixth months of 2019 totalled $1.256 billion, $728.9 million was written off, other changes of the cost of the corporate capital of nonresidents totaled $309 million with exchange rate differences of $520.8 million.
According to previously published data, first quarterly inflow of FDI in Ukraine grew by $45.5 million.
Cyprus was the leader in FDI surplus in the first half of 2019 with $388.8 million, followed by the Netherlands ($295.1 million), Russia – 145.5 million, and Switzerland ($100.3 million).
Meanwhile, FDI from Hungary decreased $250.6 million.
Nonresidents invested $318.5 million in financial and insurance activities, $184.9 million and $176.4 million in extractive and processing industries respectively, $113.8 million in wholesale and retail trade, $122.6 million in transactions with property, $128.4 million in science and technical activities.
Although there was a $270.4 million drop in FDI in the field of administrative and supportive service for the mentioned period.

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UKRAINE GETS NEW GOVERNMENT

The Verkhovna Rada has backed the candidates to the new cabinet of ministers proposed by newly appointed Ukrainian Prime Minister Oleksiy Honcharuk on behalf of the ruling parliamentary coalition, the Servant of the People faction. A total of 281 parliamentarians voted for the cabinet on Thursday evening, an Interfax-Ukraine correspondent said.
The new Ukrainian government includes: Dmytro Kuleba, Deputy Prime Minister for European and Euro-Atlantic integration; Mykhailo Fedorov, Deputy Prime Minister, Digital Transformation Minister; Tymofiy Mylovanov, Minister of Economic Development, Trade, and Agriculture; Oksana Markarova, Minister of Finance; Oleksiy Orzhel, Minister of Energy and Environmental Protection; Vladyslav Krykliy, Minister of Infrastructure; Olena Babak, Minister of Development of Communities and Territories; Hanna Novosad, Minister of Education and Science; Zoriana Skaletska (Chernenko), Minister of Health; Volodymyr Borodiansky, Minister of Youth Policy, Culture and Sports; Yulia Sokolovska, Minister of Social Policy; Arsen Avakov, Interior Minister; Denys Maliuska, Minister of Justice; Oksana Koliada (Havryliuk), Minister for Veterans, Temporarily Occupied Territories, and Internally Displaced Persons; and Dmytro Dubilet, Minister of the Cabinet of Ministers.
Earlier in the day, the parliament appointed Vadym Prystaiko as foreign minister and Andriy Zahorodniuk as defense minister, as recommended by the Ukrainian president.
In the new Ukrainian cabinet unifications have occurred of the Economy Ministry and the Agriculture Ministry, the Energy Ministry and the Ecology Ministry; the Veterans Ministry and the Ministry of Temporary Occupied Territories; and the Culture Ministry and the Youth and Sports Ministry.

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WASHINGTON READY TO JOIN PEACE PROCESS IN UKRAINE

Washington is ready to join the peace process in Ukraine, Assistant to the U.S. President for National Security Affairs John Bolton has stated.
The United States is set to join such efforts in any way possible because what is going on in Ukraine and in Crimea should not be regarded as a purely European dispute, Bolton told a press briefing in Kyiv on Wednesday, adding that the North Atlantic Alliance, or NATO, was established in light of the fact that the U.S. had been involved in two world wars, and NATO was to maintain peace.
Bolton also recalled that Germany and France were planning to organize a Normandy format meeting.
However, to take part in such meetings, one should get prepared and be guided by experience and all the positive things from previous meetings, because if there were no positive points during previous meetings, then it hardly makes sense to hold another such meeting, Bolton said.

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