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Agriculture
Milling and Grain attended a recent webinar as presented by the Department for International Trade in November 2017. Here she writes up the presentation looking at “Agriculture: Opportunities for UK companies in Ukraine”
OPPORTUNITIES FOR UK COMPANIES IN UKRAINE
by Laura Clark, Milling and Grain
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kraine, a country inhabited in its modern state since 32,000BC, has a long history of grain production. The opportunities for export for contemporary Britain are numerous. From February 21-23, 2018 the Department of International Trade will be hosting their annual conference in Kyiv, at the International Exhibition Center, 15, Broavskiy Ave. The exhibition will present UK nationals the chance to initiate new business ventures with potential Ukrainian clients. Cathy Cottrell from the British Embassy in Kyiv, Ganna Drozd (DIT) and Chris Jackson from UK TAG (Technology for Agriculture and Genetics) discuss the possibilities.
OPPORTUNITIES FOR UK COMPANIES IN UKRAINE
Doing business in Ukraine – A few key facts
Cathy Cottrell, (First Secretary Energy Policy and Head of Commercial Section) British Embassy, Kyiv ‘The Ukrainian market is a large developed market, there are five cities with more than a million people and there’s a highly educated work force here with low labour cost. Ukraine has a strategic location between Europe and Asia, with access to black sea ports. Aside from being a world leader in agriculture there’s a broad (if aging) industrial base here and significant natural resources including oil, gas and coal. “Yes there are issues, there is political instability, Russia’s illegal annexation of Crimea and the conflict in Eastern Ukraine; other challenges include the dominance of inefficient state enterprises, corruption and over-regulation. However, the Ukrainian government has since implemented a number of reforms to address structural imbalances, we have seen the establishment of the anti-corruption agency and a business ombudsman and the strong support from the donor community here. So although the last few years have seen macroeconomic and political challenges, the economy is returning to growth.
Economy
Growth in global prices for agriculture and steel commodities is giving a boost. There’s been a growth in investment in fixed assets, 23.7 percent year on year and an increase in consumption. 84 | January 2018 - Milling and Grain
We’re seeing an increase in consumer confidence and positive feedback from UK companies; industrial production recovered by 1.2 percent year -on-year in August. Substantial growth in machine building and construction, suggest investments remain strong. Although the Ukraine parliament satisfied the IMS with the adoption of the long awaited pension reforms in October, there are other requirements, for example: adjustment of gas prices; establishment of an anti-corruption court; an acceleration of the privatisation of state owned enterprises. Ukraine will have to reach agreements on these in order to pass