Ukraine

Business

Journal

10:43 AM Wednesday, August 22, 2018
UBJ.am
UBJ.am Tuesday, May 8
Sales of foreign cars and trucks grow; HEAD expanding operations to Ukraine; Ukrainian-Turkish cooperation progressing; Ukrainian-US commercial ties hit a snag;
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

Sales of new commercial vehicles up by 25% in Q1 (y-o-y). Between January-April 2018, 4,060 vehicles were sold, 1,187 in April, the Ukrautoprom association has announced, according to Interfax-Ukraine. Sales were 20% higher in April than in March 2018. French companies had led the way. Citroen sold 223 vehicles in April (an 8.6-fold rise compared with April 2017 and 65% up on March 2018), while Renault sold 191 vehicles (12% more than in April 2017). Next come Ford (161 vehicles sold - 2.2 times more than in April 2017), Fiat (registering a 10% decline in sales year-over-year, to 97 vehicles), and Volkswagen (76 vehicles sold – up 65% up.

Truck segment also showing decent sales results. Ford Trucks was the leader in Q1 with 28% of the Ukrainian market. This resulted from a deal signed with Automagistral-Yug to buy 122 Ford dump trucks. MAZ occupied 58% of the medium truck market, followed by Scania with 10% of the market, and MAN and Volvo.

HEAD investing in project in Vinnytsia. One of the world’s leading sporting equipment companies HEAD International Holding GmbH has concluded a multimillion dollar investment agreement with the City of Vinnytsia and regional authorities to produce winter sporting equipment there.UkraineInvest Director Daniel Bilak welcomed the agreement as an important development for Ukraine, as it will not only create high value production and jobs, but also boost the country’s attraction for well-known global brands.

Russian-Ukrainian company equipping new Turkish nuclear power plant. Energomashspetsstal (EMSS, Kramatorsk, Donetsk region), the owner of which is Russia’s Atomenergomash of Rosatom Corporation, will supply the last semi-finished products this summer to equip reactor one of Turkey’s Akkuyu nuclear power plant (NPP) being built on Turkey’s Mediterranean coast. According to Inter-fax Ukraine, under the contract, the cost of which is not disclosed, hundreds of semi-finished products for the reactor’s case, steam generator, pressurizer and the upper unit have been made and inspected with participation of specialists from the NBPP and Turkish Atomic Energy Authority (TAEK).

Ukraine, Turkey complete tenth round of FTA talks. The latest one focused on access to the agricultural commodity, telecommunications and e-commerce markets, Ukrinform reports. “Our task is to create conditions for the exports of the processed high added value products, the products involving the latest technologies, because the latest technologies are also being used actively in the food and processing industry," Natalia Mykolska, the head of the negotiating delegation from Ukraine, Deputy Economic Development and Trade Minister of Ukraine and Ukraine's trade representative, said.

US cancels duty-free benefits for 155 types of Ukrainian goods. The Office of the United States Trade Representative has suspended the effect of the Generalized System of Preferences for 155 types of Ukrainian goods, Ukrainian media have reported.They include some types of food and products from light industry, woodworking, and machine engineering, as well as certain electrical appliances. The Economic Development Ministry says it is trying to resolve this issue with the U.S. government, but acknowledges that it hinges on the adoption of a draft law by the parliament designed to establish an effective and transparent system of collective management of property rights in the field of copyright and related rights.

Ukraine, US discuss expansion of mutual access to markets. Ukrainian and US veterinary services have agreed to continue close cooperation and to address issues of mutual interest, Ukrinformreports.A delegation of the Veterinary Services of the United States Agriculture Department visited Ukraine for this purpose.Among the issues discussed were: technical adjustments to a number of veterinary certificates for the imports of certain types of goods into Ukraine, in particular pet food, feed additives, poultry, technical gelatin (not for food use), milk and dairy; and, consideration of the Ukrainian application for the export of domestic poultry, the accreditation of which has been ongoing the last two years.

Price of imported gas exceeds $300 for the first time in three years. The price, which in March 2018 stood at $275 per 1,000 cubic metres, shot up to around $ 309.9 in April, Ukraine's Economic Development and Trade Ministry said on its website. In January-April 2018 Ukraine reduced natural gas imports by over 54% year-over-year (y-o-y) to 2.2 billion cubic metres (bcm). In 2016, Ukraine imported 11.1 bcm of gas from Europe alone.Natural gas imports in 2017 were estimated at $3.228 billion.

Ukraine boosts export of electricity. In Q1 2018 Ukraine exported electricity worth $109.331 million, in April $28.86 million:Hungary imported to the value of $69.146 million, Poland, $26.466 million, Moldova, $10.939 million, and other countries, $2.779 million. In monetary terms exports in Q1 increased by 33.5% (y-o-y). In Q1 Ukraine imported electricity costing $562,000, from Russia, worth $539,000, Belarus, $22,000 and Moldova, $1,000.

National Bank of Ukraine: International reserves total $18.4 million. “According to preliminary data, the international reserves of Ukraine increased by 1.3% in April and amounted to the equivalent of $18,421.1 million as of May 1, 2018," the press service of the National Bank of Ukraine reports. In April, the NBU bought a total of USD 326.7 million on the interbank market of Ukraine.
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