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accomplish this goal, both countries have agreed to speed up the free trade agreement's ratification and implement measures designed to help Ukrainian businesses in wartime conditions. In addition, Ukraine invited Turkish companies to join the implementation of investment projects within the framework of the Recovery Plan in other regions in addition to the Kharkiv region.
Ukrainian exports have been showing record growth since the war. In September, the volume of Ukrainian exports in monetary terms grew by more than 23% compared to August. Last month, Ukraine sold $4.144B worth of products abroad, compared to $3.363B in August. This is the best result since February 2022, the Ministry of Economy noted. The volume of Ukrainian exports also increased in other quantitative terms. In August, exports amounted to 7.29mn tons; in September, they were 9.66mn tons, which is 32% more. Due to the recent export growth, Ukraine’s trade balance improved in September. The volume of imports exceeded exports by only $354M, while in August, the negative balance amounted to $1.53B. However, Ukrainian export indicators are still far from pre-war levels. Compared to September of last year, the export volume, both in terms of value and volume, is 35% lower.
Ukraine exceeded pre-war export figures to the EU. According to August’s results, Ukrainian exports to EU countries almost reached pre-war levels. And according to the results of the first three quarters, they will even exceed the corresponding pre-war indicators, said Trade Representative of Ukraine Taras Kachka. According to Kachka, exports to the EU made up 90% of recorded exports in August 2021. And in three quarters of 2022, Ukraine’s EU export share rose a few% compared to the same period in 2021. At the same time, the official added, Ukraine’s total export volume compared to the pre-war period has been reduced by almost half. So, in January-February, Ukraine exported $6B or more monthly, and as of September, this indicator was only $3.4B. Exports to North Africa and Asia decreased the most. It is now increasing due only to the grain initiative and seaports opening.
5 more grain ships leave ports of Odesa Oblast. The shipment of Ukrainian agricultural products bound for European and African countries continues as planned, as five more ships depart Odesa via "grain corridor," Turkey's Defense Ministry reported on Sept. 16. Ukraine has exported 3.33mn metric tons of grain since Russia and Ukraine signed an agreement brokered by the UN and Turkey on Aug. 1 to allow grain exports to restart, according to Ukraine's Infrastructure Ministry. A total of 86 ships have left as of September 16, all but two going to Europe.
Ukraine has announced a new plan for the uninterrupted export of Ukrainian grain through the EU. During an informal meeting in the Czech Republic, the Minister of Agricultural Policy of Ukraine, Mykola Solsky, stated that it is necessary to build terminal complexes on Ukraine’s border with EU countries, which will include grain conveyors. This infrastructure is needed due to the difference between Ukrainian and European railway gauges. Each such terminal will be able to transport up to twomn tons of grain annually. The next step is the construction of a pipeline for transporting vegetable oils. In addition, the EU countries need to increase railway rolling stock for transporting grain and corresponding trucks - by 3,640 wagons and 6,000 trucks. This will allow additional transportation of up to 10mn tons of grain annually. It is also necessary to allocate railway routes for the passage of Ukrainian grain wagons with carts modified to the European track standard.
26 UKRAINE Country Report October 2022 www.intellinews.com