Ukraine aims to sell its agricultural goods to African markets

Doing business in Ukraine, economy: Ukraine aims to sell its agricultural goods to African markets

This article discusses the #recent #visit of a #trade mission from #Ukraine to #Kenya and #Tanzania regarding #export of #agricultural goods to these countries.

Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.

The Ministry of Economic Development and Trade of Ukraine sent a trade mission to Kenya and Tanzania in order to commence negations with the respective governments of these countries. Export of Ukrainian agricultural goods was the main topic of discussion. The trade mission was also composed of a dozen of representatives of Ukrainian agricultural producers.

Following the appropriate meetings with Kenyan authorities it was agreed to intensify cooperation and trade between Ukraine and Kenya in the agrarian sector. In addition, the trade representative of Ukraine announced that Kenya is also interested in Ukrainian industrial goods, such as turbines, transformers, motors, pipes, solar plants, energy engineering structures, etc.

We note that trade turnover between Ukraine and African countries increased in 2015. Moreover, Africa remained one of the few trade partners of Ukraine with which Ukraine had positive trade balance (approximately USD 3.2 million). Presently, the largest consumers of Ukrainian goods on the African continent are North African countries and Egypt in particular. In 2015, Ukraine managed to increase its export of various products to Africa, especially condensed milk, meat, cheese, yoghurt, confectionery, water, wine and tobacco.

We note that earlier the Minister of Agrarian Policy and Food of Ukraine stated that Ukraine will seek to conclude an agreement on free trade zones with the Economic Community of West African States (ECOWAS). The Minister noted that the West African countries experience considerable growth of their economies and population, which results in higher demand for agricultural products. While the growth of Ukrainian export to Africa has increased more than 24-fold since 1996, it is expected that launching of the free trade zones will lead to unprecedented increase of trade between the African nations and Ukraine.

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