Deputy Economic Development Minister Nefyodov: Ukraine should diversify its exports

Deputy Economic Development Minister Nefyodov: Ukraine should diversify its exports

Ukraine should not reduce commodity export volumes but also work to diversify its exports to increase the share of other industries, such as machine-building industry or IT.

First Deputy Economic Development and Trade Minister of Ukraine Maksym Nefyodov said this at the Kyiv International Economic Forum, an Ukrinform correspondent reports.

"The main sectors of our exports are based on the main competitive advantages of Ukraine since we have large deposits of fossil fuels, iron ore. I do not agree we should feel embarrassed about this part of our business. We should build modern and technological economy in these sectors to set the tone in the world. One of the priorities of the Government is diversification of the economy. We do not need to export less metal or grain, we need to attract more other branches," Nefyodov said.

According to him, Ukraine should create conditions for development of machine-building industry and other sectors of the economy.


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