Business news from Ukraine

EUROPEAN COMMISSION PROPOSES TO SUSPEND FOR YEAR ALL IMPORT DUTIES ON ALL UKRAINIAN EXPORTS TO EUROPE

Prime Minister Denys Shmyhal says the European Commission has proposed suspending all import duties on all Ukrainian exports to the European Union for a year.
“Today, the European Commission proposed to suspend for a year all import duties on all Ukrainian exports to the European Union. This is an unprecedented gesture of support for our country. The EU has never taken such massive trade liberalization measures in any country before. This opens up additional opportunities for our business, and our products become more competitive in the European market. We negotiated the abolition of duties with our European colleagues, and we are grateful that they heard us and supported Ukraine,” Shmyhal wrote on the Telegram channel.
Shmygal also said that the government has agreements and is negotiating with Poland, Romania, Lithuania, Germany and other countries to allow Ukrainian exports through the ports of these countries.
“We are working further so that, in addition to the EU countries and the UK, our other allies will also take the decision to abolish duties on Ukrainian products,” he wrote.

, , ,

UKRAINIAN EXPORT OF SCRAP METAL GOES DOWN IN MONETARY TERMS BY 56%

Ukrainian enterprises in January of this year reduced the export of ferrous metal scrap in monetary terms, according to operational data, by 56.48% compared to the same period last year, to $2.61 million.
According to preliminary generalized statistics released by the State Customs Service, in December 2021, scrap metal exports in monetary terms amounted to $26.98 million.
In January, the country reduced imports of scrap metal in monetary terms by 98.4%, to $53.28 thousand, in December scrap was imported for $3.96 million.
As reported, Ukraine in 2021 increased the export of ferrous metal scrap by 17.2 times compared to the previous year, to 615,687 tonnes, including 68,166 tonnes of scrap in December (35,824 tonnes were exported in 2020). In monetary terms, the export of scrap metal grew by 25.2 times, to $238.895 million.
In 2021, the country reduced the import of scrap metal in kind by 13.1%, to 22,964 tonnes. In monetary terms, the import of scrap rose by 72.4%, to $44.883 million.
Scrap metal in 2021 was mainly imported from Turkey (60.42% of deliveries in monetary terms), the Russian Federation (33.44%) and Belarus (1.57%); and exported to Turkey (84.85%), Romania (6.66%) and Poland (3.45%).

, ,