Ukraine Expecting Zero Customs Rates On Exports Of Goods To UK To Start Acting In June
The Ministry of Economy expects zero customs rates on the export of Ukrainian goods to the UK to start acting in early June.
This is stated in the message of the Ministry of Economy with reference to the words of the First Deputy Prime Minister - Minister of Economy Yulia Svyrydenko, Ukrainian News Agency reports.
"We expect that already in early June, zero customs rates for the export of Ukrainian goods to the UK will begin to operate. This will allow Ukrainian exporters to increase the export of products. First of all, we are talking about such products as flour, grain, dairy products, poultry meat and semi-finished products, honey, corn, sugar. As a result, we will attract additional volumes of foreign exchange earnings to the country, which will have a positive effect on macro-financial stability in the state," Svyrydenko said following a meeting with British Secretary of State for International Trade Anne-Marie Trevelyan.
Officials also discussed the increase in trade between Ukraine and Britain, which increased by 40% last year, according to the report.
At that, the Ministry of Economy believes that in 2022 we can expect its significant progress, even despite the war.
The report notes that in order to update and restructure the economy according to new principles, using modern technologies, Ukraine needs British investments.
"As of 2021, the UK's direct investment in Ukraine amounted to USD 3 billion. Of these, a significant part entered the industry. In the near future, the investment component of our cooperation should be restored and developed," Svyrydenko said.
She also said that during the meeting, the parties agreed to hold an investment conference in June, at which Ukraine expects to receive unprecedented business support for its development.
As Ukrainian News Agency earlier reported, in early May, Ukraine and the UK signed an agreement on the abolition of import duties and tariff quotas in bilateral trade.