Thursday, August 11 2016 22:30 EEST
Ukrainian foods exports to the European Union have increased by 68%
Ukraine, business, Europe, EU, foods, goods, export, increased, cooperation, products, exporters, certificate, NBU, National Bank, money, economy

First Deputy Prime Minister and Minister of Economic Development and Trade Stepan Kubiv says Ukrainian foods exports to the European Union (EU) have increased by 68% since the beginning of the current year when the free trade area was launched.

'Ukrainian manufacturers have actively been using trade preferences in Ukraine-EU trade, with export proceeds beyond the tariff quotas. As of the end of July, nine tariff quotas for agricultural products had been used in full. Traditionally, the poultry meat quota is fully used, the tariff quota for creamery butter and dairy spreads is used up to 46% and the powdered milk quota is used up to 30%. In general, exports to the EU this year have increased by 7%, especially of food products (68%),' he stated, according to Unian.

He added that Ukrainian exporters have already received about 30,000 EUR.1 certificates for registration of exports from Ukraine in keeping with EU standards. Eighty-six companies have been granted authorized exporter status, which allows them to export without a certificate.

Ukraine's foreign trade deficit in goods from January to June 2016 was estimated at US$1.953 billion, up 23.5% from the $1.581 billion deficit recorded during the same period in 2015, according to the National Bank of Ukraine (NBU).

In particular, the export of goods in the first half of 2016 totaled $15.241 billion, down 11.9% year-on-year, while imports declined by 9.9% to $17.194 billion, the NBU stated.

The foreign trade deficit in commodities in the January-May 2016 period was $1.753 billion, up 12.2% from the deficit in January-May 2015, when Ukraine posted $1.562 billion.

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