Meeting with the Chairman of the Committee on Industrial Policy and Entrepreneurship, Victor Galasyuk

On March 05, Ricardo Giucci and David Saha from the German Advisory Group met with Victor Galasyuk, Chairman of the Committee on Industrial Policy and Entrepreneurship. Topics for discussion were the current industrial policy and promotion of economic development in Ukraine.

The experts presented their results of research on the export and import dynamics in 2014 and their implications for the Ukrainain government. The decline in exports, and in particular in machinery exports, can be attributed mainly to the loss of traditional markets for Ukrainian exports, e.g. Russia.

To improve export opportunities, the German Advisory Group recommends to eliminate negative internal factors (e.g. the inefficient system of VAT refund), to implement international standards in order to develop markets in the EU and non-CIS countries, to develop financial instruments (e.g. export credit agency), to create export incentives based on future opportunities.

Further reading:

Newsletter 77/2015
“Strong reduction in exports in 2014 despite severe depreciation”

PB/03/2015
“Ukraine’s import dynamics in 2014”

PB/02/2015
“Ukraine’s export dynamics in 2014”