Ukraine’s Vice PM Kubiv: Export generates about 50% of GDP

"Export generates about 50% of GDP, and its development is a key priority for Ukraine. For several years we have managed to conclude three free trade agreements (with the EU, Canada, and Israel); to re-focus the exports in order to send 42.6% to EU and to significantly reduce the share of exports to the Russian market; to elaborate and adopt a clear export strategy to boost trade with such important trading partners as Turkey, China, India, Egypt, the United States," Vice Prime Minister - Economic Development and Trade Minister of Ukraine Stepan Kubiv posted on Facebook, commenting on the discussion during the third regular meeting of the Council for International Trade.

He noted that over past years Ukraine had been successfully presented at the international export exhibitions in Shanghai, the impressive Ukrainian national stand for Expo 2020 Dubai had been created, Ukraine had joined the Regional Convention on pan-Euro-Mediterranean preferential rules of origin to encourage recycling in Ukraine, and Ukraine had improved its Doing Business ranking, having climbed from 112th spot in 2014 to 71st spot.

In addition, the meetings of 65 intergovernmental commissions on trade and economic cooperation have been held over past three years, including completely new ones with the State of Qatar, and the activity of commissions, which were not active for 4-6 years, have been resumed. Moreover, the support for the Ukrainian producers of agricultural machinery has been provided under the program of partial compensation of the cost of such equipment. This contributes to the development of agroindustry, which is one of the most powerful sectors of the Ukrainian economy.

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