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Trade and economic relations
31 March 2020 15:49

Kuwaiti-Ukrainian trade and economic cooperation is regulated by the Agreement between the Governments of Ukraine and the State of Kuwait on cooperation in economic and technical fields (2001).

Ukraine attaches great importance to the prospects of increasing exports of Ukrainian agricultural, machine-building and metallurgical products to Kuwait.

Kuwait demonstrates interest in the potential of Ukraine in aviation, industry, agriculture and real estate.

According to the data provided by the Government Statistics Agency of Ukraine the total trade in goods between Ukraine and Kuwait in 2020 amounted to 37,06 million USD.  Export from Ukraine - 36,27 mln USD, import to Ukraine - 0,79 mln USD.

A dynamics of trading in commodities is between Ukraine and Kuwait 









 

Export Structure:

meat and edible offal – 12,83 mln usd;

cereals - 10,98 mln usd

fats and oils of animal or vegetable origin – 3,66 mln usd;

ferrous metals and products: 3,4 mln usd

Structure of import:

plastics, polymeric materials - 0,7 mln usd

Inorganic chemistry products - 0,07 mln usd

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

On 13 February 2021 the Law of Ukraine No. 1116 “On State Support for Investment Projects with Significant Investments in Ukraine” (Law on Investment Nannies) entered into force introducing a comprehensive legislative framework aimed at attracting large investments to the economy of Ukraine. According to the Law and respective amendments to the Tax and Customs Codes of Ukraine (effective as of 28 March 2021), a package of special investment incentives will be available for investment projects meeting certain criteria.

On 17 February 2021 the Government of Ukraine designated UkraineInvest to support investment projects willing to receive state support. UkraineInvest as the primary point of contact will guide investors through state support application process, assist in setting communication with state and local authorities.

Explanatory Guide on the Law is prepared to familiarize the potential investors with the specifics of the Law. The Guide provides information on available forms of state support, requirements to applicants and investment project with significant investments, details of application process.

For more information: https://ukraineinvest.gov.ua/analytics-research-2/explanatory-guide/

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