On April 1, the third meeting of the International Trade Council chaired by Stepan Kubiv, First Deputy Prime Minister/Minister of Economic Development and Trade of Ukraine was held.  The key task of the International Trade Council is to establish effective communication and interaction between the Government and business in order to support and promote Ukraine's exports in the world.

Opening the meeting Stepan Kubiv noted the effectiveness of such format format of the work of the Council and emphasized the importance of the achievements in 2018.

"Among the results of the work of the Council and its recommendations in 2018, I will outline the beginning of the preparation of sectoral and cross-sectoral export strategies, the creation of the Export Credit Agency (ECA), the implementation of the WTO Agreement on Trade Facilitation, the Free Trade Agreement with Israel, and the development of a mechanism public-private consultations in conducting negotiations on conclusion of free trade agreements, improvement of customs and tariff regulation of import of raw materials into the customs territory of Ukraine which are not the creation of a state agency "Export Promotion Office" under the Ministry of Economic Development and Trade, the creation of export web portal, the liberalization of currency regulation, the presentation of the export potential of Ukraine in the framework of exhibition and fairs events - "China International Import Expo 2018", at the exhibition in Dubai " Gulfood 2018 ", the beginning of the preparation of the presentation of Ukraine's innovative exports to EXPO-2020 in Dubai," Stepan Kubiv emphasized.

The First Deputy Prime Minister noted that export remains one of the pillars of economic growth in the country, forming about 50% of GDP. And it is constantly growing due to effective government policy. He also underlined that in 2018, the volume of exports of goods and services increased by 8.6% compared with 2017 and amounted to $57.2 billion.

"Ukrainian foreign trade is developing amid challenges, but over the past 4 years, we have ensured its diversification, expanded the export geography and product and service line. We have signed new free trade agreements, namely, with the European Union, Canada and Israel. We have reoriented the markets from Russia to the European Union and today Europe is our key trading partner, the export to  which makes 42.6% that is worth $ 20.2 billion", Stepan Kubiv stressed during his speech.

Apart from that, the members of the International Trade Council identified the plans for 2019. In particular, launch of the work of the Export Credit Agency (ECA) and other financial and credit mechanisms of support of exporters encapsulated in the Action Plans shaped by the Government and the Ministry of Economic Development and Trade, completion of the development, approval and implementation of cross-sectoral export strategies, preparation of Ukraine's participation in the "EXPO-2020" in Dubai.

Background

The International Trade Council is a consultative and advisory body under the Cabinet of Ministers of Ukraine as the coordinator of the system of state support for the development of international trade and promotion of Ukrainian exports. The Council is headed by the First Deputy Prime Minister of Ukraine/ Minister of Economic Development and Trade. The composition of the Council also includes representatives of the Ministry of Economic Development and Trade of Ukraine, leadership of the Ministry of Economic Development and Trade of Ukraine, the Ministry of Regional Development, Construction, Housing and Communal Services of Ukraine, the Ministry of Foreign Affairs of Ukraine, the ministry of Infrastructure of Ukraine, the Ministry of Agrarian Policy and Food of Ukraine, the Ministry of Energy and Coal Industry, representatives of the Presidential Administration, line committees of the Verkhovna Rada of Ukraine, the DPS, the State Fiscal Service, and the Deputy Business Ombudsman.