Ukraine Unveils Its Export Strategy
April 4, 2017
Ukraine must focus on exporting end products rather than raw materials, stated Stepan Kubiv the First Vice Prime Minister and Minister of Economic Development and Trade of Ukraine at the “Ukraine’s Export Strategy” presentation. The strategy covers next five years and provides for 56 high-priority goals on developing exports.
“As of today, about 70 percent of our export consists of raw materials: agricultural products, minerals, some chemical industry products, wood, consumer goods and metallurgy industry products. Ultimately, our agricultural sector must rely upon exports of competitive, high-added-value end products rather than raw materials,” noted the First Vice Prime Minister.
According to the Strategy, food industry, IT-sector, machine building, aerospace industry and so-called creative spheres with innovative approach to meeting demands of consumers must become key industries of Ukrainian export.
The Strategy identifies promising markets for Ukrainian exports, where the 28 EU countries are defined as strategic and key foreign economy partners of Ukraine. Among other countries, the U.S., China, Turkey, Japan and India are listed as the most promising markets.