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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 Ukrainian export to Kuwait:

Structure of export:

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/

Useful legal information:

https://dlf.ua/en/ukraine-investment-guide/

https://dlf.ua/en/taxes-in-ukraine/

https://dlf.ua/en/law-on-support-of-large-investors-in-ukraine-adopted/



The State Customs Service of Ukraine informs that from July 1, 2021, the provisions of paragraph 61 of Section XXI of the Customs Code of Ukraine on mandatory registration with the State Customs Service of Ukraine of non-residents who declare goods in Ukraine come into force.

According to part eight of Article 455 of the Customs Code of Ukraine, non-registration is a ground for refusal of customs clearance and passage across the customs border of Ukraine of goods, commercial vehicles.

According to the first part of Article 455 of the Customs Code of Ukraine, non-resident persons are subject to mandatory registration who are:

declarants of goods, commercial vehicles, in the cases provided for in paragraph 4 of part two of Article 265 of the Customs Code of Ukraine (foreign carriers moving goods, commercial vehicles, transit through the territory of Ukraine);

carriers of goods across the customs border of Ukraine and/or between customs offices in the territory of Ukraine or is a person responsible for such transportation (foreign carriers moving goods under customs control).

It is possible to register:

when entering or leaving Ukraine by filling out the application form directly at the checkpoint and providing a copy of the registration certificate of a non-resident issued by the competent authority of the country of registration;

by sending a completed application form by post to any customs office and providing a copy of the registration certificate issued by the competent authority of the country of registration;

submit directly to any customs office a completed application form and a copy of the registration certificate issued by the competent authority of the country of registration, or submit these documents through an authorized person acting on the basis of a power of attorney from a non- resident, or through a customs clearance agent acting on the basis of an agreement between a non-resident and a Ukrainian customs broker.

The application form can be filled in any language of official international communication. To speed up the processing of information, it is desirable to fill it in Ukrainian or English.

After entering the data from the application into the information system of the customs service, a non-resident person will be assigned a temporary registration number within one hour.

Refusal to assign a temporary registration number is possible if: the application form does not contain all the required data;
the non-resident is already registered.

The temporary registration number allows a non-resident person to carry out all customs formalities and procedures without restrictions.

The non-resident shall be informed about the registration and assignment of the registration number within the following five working days.

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