Today, on April 1 the third session of the International Trade Council chaired by First Vice Prime Minister – Minister of Economic Development and Trade of Ukraine Stepan Kubiv was held. The key task of the International Trade Council is to establish an efficient communication and interaction between the Government and business to support and promote Ukraine’s exports in the world.
When opening the session, Stepan Kubiv noted the effectiveness of selected format of the work of the Council and emphasized the importance of the achievements in 2018.
“The results of the work of the Council and its recommendations in 2018 is the beginning of the preparation of sectoral and cross-sectoral export strategies, the creation of the Export Credit Agency (ECA), the implementation of the WTO Agreement on Trade Facilitation, the conclusion of Free Trade Agreement with Israel, and the development of a mechanism of public-private consultations in conducting the negotiations on the conclusion of free trade agreements, the improvement of customs and tariff regulation of import of raw materials into the customs territory of Ukraine which are not manufactured in Ukraine, the creation of State Institution “Export Promotion Office” at the Ministry of Economic Development and Trade of Ukraine, the creation of export web portal, the liberalization of currency regulation, the presentation of the export potential of Ukraine within the framework of exhibition and fair events – “China International Import Expo 2018”, at the exhibition in Dubai “Gulfood 2018”, the beginning of the preparation of the presentation of innovative exports of Ukraine at EXPO 2020 in Dubai”, emphasized Stepan Kubiv.
The First Vice Prime Minister of Ukraine also noted that exports remain one of the moving factors of the economic growth in our country, forming about 50% of GDP, and it is constantly growing due to efficient government policy. The First Vice Prime Minister of Ukraine – Minister of Economic Development and Trade of Ukraine noted that in 2018 the volume of exports of goods and services increased by 8.6% as compared to 2017 and amounted to USD 57.1 billion.
“Ukrainian foreign trade is developing in difficult conditions, but over the past four years we ensured its diversification, expanded the export geography and the range of goods and services. We have three new free trade agreements – with the EU, Canada and Israel. We reoriented the markets from Russia to the EU and today the EU is our key trading partner, where 42.6% of Ukrainian exports of goods is directed, which constitutes USD 20.2 billion”, said Stepan Kubiv in his speech.
The members of the Council approved the action plans for 2019. In particular, they planned launch of the Export Credit Agency (ECA) and other financial and credit mechanisms for support of exporters, as defined in the Action Plan of the Government and the Ministry of Economic Development and Trade of Ukraine, the completion of the development, approval and implementation of cross-sectoral export strategies, the preparation of Ukraine’s participation in EXPO 2020 in Dubai.
For reference
The International Trade Council is a consultative and advisory body at the Cabinet of Ministers of Ukraine acting as the coordinator of the system of government support to the development of international trade and promotion of Ukrainian exports. The International Trade Council is chaired by the First Vice Prime Minister of Ukraine – Minister of Economic Development and Trade. The Council also includes representatives of the Ministry of Economic Development and Trade of Ukraine, the executives of the Ministry of Regional Development of Ukraine, the Ministry of Infrastructure, the Ministry of Foreign Affairs, the Ministry of Agrarian Policy, the Ministry of Energy and Coal, representatives of the Administration of President, specialized committees of the Verkhovna Rada of Ukraine, the State Fiscal Service, the State Regulatory Service, and the Deputy Business Ombudsman.