Trade and economic cooperation

01 November 2020 12:29

Registration with the State Customs Service of Ukraine of non-residents who declare goods in Ukraine

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

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 2021 amounted to 178 million 903 thousand US dollars, which was the largest figures in the history of the Ukrainian-Qatari diplomatic relations.

In 2021, the volume of trade in goods increased significantly and reached 166.710 million USD. At the same time, the volume of exports to Qatar amounted to 148.030 million dollars, and the volume of imports of Qatari goods amounted to 18.680 million USD. Positive balance for that period – 129.550 million US dollars).

Bilateral trade in services between Ukraine and Qatar is relatively low, however, during 2021 there was a slight increase (mainly due to the renewal of transport services), which amounted to 12.190 million USD. Export of services to Qatar amounted to 6 mln 448 thousand dollars USD. Import to Ukraine amounted to 5 mln 743 thousand dollars USD. Positive balance for Ukraine is 704 thousand of dollars USD.

The current state of foreign trade in goods

According to the results of 2021, 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 2021 was represented by the following groups of goods - ferrous metals – 54.3%, different items – 17,6% fats and oils - 12.8%, food industry residues - 4.2%, milk and dairy products, , ferrous metal products - 2.9%.

Structure of imports to Ukraine from Qatar during 2021: plastics, polymeric materials – 78%, organic chemical compounds – 13.9 %, products of inorganic chemistry – 7.9 %.

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 took place in August-September 2021 in Kyiv. Sides confirmed to conduct the Third Session of the Commission in 2023.

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/