Chile and Ukraine: Trade Relations Improvement

Tuesday, September 7, 2021
Chile and Ukraine: Trade Relations Improvement

Deputy minister of economy of Ukraine Taras Kachka held online meetings with acting Chile's deputy foreign minister for international economic relations Felipe Lopeandi

For a long time, Chile has been an important economic partner of Ukraine in the Latin American region. Both countries are interested in resuming dialogue in the field of trade and economic relations. Last year, the Council of exporters and investors of Ukraine included Chile in the list of the 10 most promising countries for the development of trade relations.

Representatives of the ministry of economy, the ministry of foreign affairs, the embassy of Ukraine in Chile, the ministry of agrarian policy and food, the state food and consumer service, industry and business associations also joined the recent meeting. During the event, the representatives managed to discuss the issues of improving the balance of bilateral trade, diversification of trade areas, and launching joint investment projects.

Deputy minister Taras Kachka informed the Chilean side about the economic situation in Ukraine. Thus, since the beginning of this year, Ukraine has seen a resumption of economic growth — in the first half of 2021, GDP increased by 1,7% compared to the corresponding period of 2020. However, the government aims to increase GDP by 4%.

The priority of the Ukrainian government is to create a favorable business climate, develop entrepreneurship and attract investment, reform state-owned enterprises and privatize for further economic growth. In particular, the intensification of investment in Ukraine's economy is one of the most important issues today. We are interested in expanding the presence of Chilean companies in the Ukrainian market and strengthening Ukrainian-Chilean business ties," said deputy minister Taras Kachka.

Recall that for 6 months of this year, trade in goods and services between Ukraine and Chile increased by 7,9% to $33,1 million, Ukrainian exports doubled to $5,3 million.

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