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Trade and economic cooperation
01 November 2020 12:29

Trade and economic cooperation between the countries has been significantly intensified over the recent years.

Following the results of 2020, Qatar ranked 70th among the foreign trade partners of Ukraine worldwide in terms of trade turnover.

According to the State Statistics Service of Ukraine, the total volume of foreign trade (goods and services) between Ukraine and the State of Qatar in 2020 amounted to 146 million 126 thousand US dollars, which was the largest figures in the history of the Ukrainian-Qatari diplomatic relations.

In 2020, the volume of trade in goods increased significantly and reached 139.150 million USD (82.255 million in 2019). At the same time, the volume of exports to Qatar exceeded 2019 figures by 75.0% and amounted to 131.611 million dollars, and the volume of imports of Qatari goods amounted to 7.544 million USD, which is slightly more than in 2019 (2 %). Positive balance for that period – 124.067 million US dollars).

Trade in services between Ukraine and Qatar is relatively low, however, during 2020 there was a significant decreasing (mainly due to transport services), which amounted to 6.976 million USD.

The current state of foreign trade in goods

According to the results of 2020, despite the restrictive measures taken by the Qatari government and certain changes in trade policy aimed at combating the spread of coronavirus infection COVID-19, a positive trend towards bilateral trade in goods is preserved.

Structure of the Ukrainian exports:

The structure of Ukrainian exports to Qatar during 2020 was represented by the following groups of goods - ferrous metals – 40.4%, cereals - 17.8%, fats and oils - 17.7%, food industry residues - 9.1%, milk and dairy products, poultry eggs - 3.6%, , ferrous metal products - 2.6%, tobacco and industrial tobacco substitutes - 1.4% , meat and offal- 1.0%.

Structure of imports to Ukraine from Qatar during 2020: plastics, polymeric materials – 79.7%, organic chemical compounds – 10.8 %, products of inorganic chemistry – 8.5 %, textile materials - 0.6%.

Establishment of the Joint Commission on Economic, Trade and Technical Cooperation between the Government of Ukraine and the Government of the State of Qatar brought strong impetus towards acceleration of trade between two states and deepening and intensification of business and people-to-people ties. Both sides have agreed on the key areas of cooperation and mutual interest. Second session of the Joint Commission was suspended in the light of current COVID-19 developments and is due to take place in Ukraine in 2021.

Most successful achievement in the development of the investment cooperation between Ukraine and Qatar so far is signing of the Agreement between the Ministry of Infrastructure of Ukraine, SE "Seaports Administration of Ukraine" and Qatar company "QTerminals" on the concession of the Ukrainian port Olvia. Official signing ceremony took place on August 20, 2020 via video conference. Under the agreement, the Qatari company is going to invest UAH 3.4 billion over the next five years into the development of the Ukrainian port and its infrastructure.

Such areas as energy, agriculture, road infrastructure, IT and others are among the promising areas for further enhancing of bilateral cooperation.

Among the most important bilateral documents in trade and economic sphere are:

Agreement on Economic, Trade and Technical Cooperation between the Government of Ukraine and the Government of the State of Qatar (from 2002);

- Agreement between the Government of Ukraine and the Government of the State of Qatar on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (in force since April 9, 2019);

- Agreement between the Government of Ukraine and the Government of the State of Qatar on the establishment of a Joint Commission on Economic, Trade and Technical Cooperation (effective from November 9, 2018);

- Agreement between the Government of Ukraine and the Government of the State of Qatar on the promotion and mutual protection of investments (effective from April 9, 2019).


Exporters and Investors Council (EIC) under the Ministry of Foreign Affairs of Ukraine

Exporters and Investors Council (EIC) under the Ministry of Foreign Affairs of Ukraine was established in 2013 in order to safeguard national interests in Ukrainian export promotion and attraction of foreign investments to Ukraine.

EIC is a platform, which unites Ukrainian producers, exporters and leading business associations providing necessary support in promoting their goods and services abroad and entering new markets, as well as attracting foreign investors and companies to Ukraine effectively using diplomatic tools, resources and networks.

The Head of the Council is the Minister for Foreign Affairs of Ukraine.

More information - https://rei.mfa.gov.ua/en


Investment opportunities in Ukraine

UkraineInvest

https://ukraineinvest.gov.ua/

Updated Invest in Ukraine Guide

 https://ukraineinvest.gov.ua/guide/

Office of the National Investment Council of Ukraine

http://www.nicouncil.org.ua/en/

Useful links

Official website of Ukraine

https://ukraine.ua/

UkraineInvest

https://ukraineinvest.gov.ua/

Export Promotion Office of Ukraine

https://epo.org.ua/en/

Office of the National Investment Council of Ukraine

http://www.nicouncil.org.ua/en/

Ministry for Development of Economy, Trade and Agriculture of Ukraine

https://www.me.gov.ua/?lang=en-GB

State Service of Ukraine on Food Safety and Consumer Protection

https://dpss.gov.ua/en

ProZorro Public Procurement system

https://prozorro.gov.ua/en

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