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Economy 2020-06-22T04:03:58+03:00
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Russian Chemical Industry Lost Over USD 500 Million From Restrictions On Trade With Ukraine In 2019 - Union Of

Russian Chemical Industry Lost Over USD 500 Million From Restrictions On Trade With Ukraine In 2019 - Union Of Chemists

Russia, restrictions, mineral fertilizers, Union of Chemists

The Union of Chemists believes that in 2019, Russian producers of mineral fertilizers lost more than USD 500 million from restrictions on trade with Ukraine.

Ukrainian News Agency learned this from the vice-president of the union, Ihor Holchenko.

He considers the abolition or relaxation of restrictions unacceptable.

“The Russian chemical industry in 2019 lost more than USD 500 million from restrictions on trade with Ukraine. Who benefited from restrictive measures? Ukrainian manufacturer and Ukraine! And now the situation will look very strange if the decisions taken by Ukrainian officials will allow these revenues to be returned to the Russian chemical industry. At the same time, having deprived them from domestic producers who create jobs in Ukraine and pay taxes in Ukraine,” said the vice-president.

He believes that calls to lift restrictions are an outspoken lobbyism of Russian manufacturers.

“Now we see the open lobbyism of Russian companies with the goal of launching imports into the country under the guise of allegedly consumers. Today, consumer prices for both Ukrainian products and imported products are no longer very different. Traders who trade in imported fertilizers lose a lot of money, importers lose,” Holchenko said.

According to him, the price of the domestic market for the final consumer in Ukraine is lower than in Poland, Serbia, France and Germany.

And in the first quarter of 2020, domestic chemical products began to squeeze Russian products at the markets of Turkey, India and in the Balkans.

Holchenko notes that the admission of Russian imports to Ukrainian imports could lead to a decrease in the load of Ukrainian factories and a reduction in jobs that President Volodymyr Zelenskyy and Prime Minister Denys Shmyhal are so worried about.

According to him, more than 15,000 workers are employed only in fertilizer factories, and in general the chemical industry provides 102,000 jobs, including 81,000 in related industries.

“The government talked a lot about the support of the national producer, about industrial nationalism. Now, just the time has come when you need not to speak, but to do. But suddenly they stopped,” said the vice president of the Union of Chemists.

As Ukrainian News Agency earlier reported, on August 21, 2019, the Interdepartmental Commission on International Trade launched two special investigations regarding the import into Ukraine of ammonium nitrate and lime-ammonium nitrate, urea and urea-ammonia mixtures, as well as mineral fertilizers containing nitrogen, phosphorus and potassium, regardless of the country origin and export.

Currently, all consultations have been held, the positions of the parties have been publicly voiced, agreed and discussed, and the investigation has, in fact, been completed.

At the same time, there are initiatives to reschedule the Interdepartmental Commission on International Trade meeting for further discussion and consultation.

The deadline for the completion of the investigation provided by law is May 25.

In May 2019, the Cabinet of Ministers amended the list of goods prohibited from import from Russia, including nitrogen and potassium fertilizers.

This decision entered into force on July 1.

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