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UBJ AM News: March 21, 2017
Canada's market could offer untold opportunities for Ukraine's defense titan, and Europe looks to continue lavishing money on Ukraine.
image/svg+xml Kyiv Lutsk Rivne Zhytomyr Lviv Ternopil Khmelnytskyi Uzhgorod Chernivtsi Vinnytsia Chernigiv Sumy Kharkiv Poltava Cherkasy Kirovohrad Lugansk Dnipropetrovsk Donetsk Zaporizhzhia Mykolaiv Odesa Kherson Simferopol Sevastopol Ivano- Frankivsk

Ukroboronprom is looking forward to the ratification of the free trade agreement with Canada in the expectation of greater cooperation and new business opportunities, according to Interfax Ukraine. The defense giant figures that duty-free access to the Canadian market will allow for the purchase of Canadian spare parts for military products and open new opportunities for Ukraine to take part in Canadian defense tenders.

The director of the European Bank for Reconstruction and Development for Ukraine is hoping the bank will push its investment in Ukrainian projects to $1 billion this year, Interfax Ukraine reported. Also, the bank will open its fourth and final Ukrainian representative office in Odesa in May.

Over the past three years, the European Investment Bank has financed more than $3 billion worth of programs in Ukraine, a bank official told Ukrinform. The money was used to support more than 15 programs in three key areas: private-sector business development, socio-economic infrastructure and combating climate change.

President Petro Poroshenko said the European Union will give Ukraine $600 million in economic aid immediately after the country receives the latest tranche of assistance from the International Monetary Fund, multiple sources reported.

A study of electric vehicle development by country puts Ukraine in fifth place worldwide behind three Scandinavian countries and China. According to the report by InsideEVs.com, which was cited by Ukrinform, a fivefold increase in electric vehicles’ share of sales of new automobiles accounts for Ukraine’s high ranking. The Nissan Leaf is the top seller among electrics in Ukraine.

In late April, Kyiv will host a major expert discussion on how to introduce land market reform in Ukraine, the Agri Invest Forum. More than 1,000 people are expected to take join in the discussion, Ukrinform reported.

President Petro Poroshenko expects the country’s inflation rate for the year to come in at under 10 percent, multiple sources reported.

The blockade in the Donetsk and Luhansk regions would slow the Ukrainian economy’s growth by about 1 percentage point, but the impact on the balance of payments would be larger, about 1.7 percent of GDP, a Dragon Capital senior economist told Interfax Ukraine.

VThe Finance Ministry is not planning on any additional capitalization for state-owned banks Oschadbank and Ukreximbank this year, a deputy finance minister told Unian.

For comments and news tips, please email UBJ AM editor David Edwards at david.edwards@theubjam.com.

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