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Ukraine and Belgium
03 May 2021 19:08

According to the State Statistics Service of Ukraine, according to the results of 2020, Belgium ranks 11th in terms of bilateral trade in goods between Ukraine and European countries, which is almost 2% of the total trade turnover with European countries.

Also, during the above-mentioned period, the total turnover of Ukrainian-Belgian trade in goods and services decreased by 15.3% and amounted to 1,347.4 million USD. Exports of Ukrainian goods to Belgium in 2020 decreased by 17.6% compared to 2019 and amounted to 561.1 million USD. Imports of goods from Belgium decreased by 4.2% to склав 526.2 million USD. The positive balance of bilateral trade in goods in 2020 amounted to 34.8 million USD.

According to the results of 2020, the export of Ukrainian services to Belgium decreased by 2.8% compared to 2019, and amounted to 107.8 million USD. Imports of services from Belgium decreased by 13.4% to млн 152.3 million USD. The negative balance of bilateral trade in services for this period in 2020 amounted to 44.6 million USD.

The commodity structure of Ukrainian exports to Belgium is dominated by supplies of the following goods: railway locomotives (49.6%); aircraft (15.3%); tobacco and industrial tobacco substitutes (6.4%); cotton (4.6%); other animal products (3.8%); nuclear reactors, boilers, machinery (2.5%); soap, surfactants (2.2%); food industry residues and Waste (2%); ceramic products (1.8%); ferrous metal products (1.6%); toys (1.3%); fish and crustaceans (1.2%); essential oils (1%); fats and oils of animal or vegetable origin (1%).

The commodity structure of Belgian imports is dominated by supplies of the following goods: natural shellac (13.3%); hats (10.3%); cotton wool (10.2%); carpets (9%); cereals (8.8%); ferrous metal products (5.2%); stone, gypsum, cement products (3.7%); other finished textiles (3.1%); seeds and fruits of oilseeds (3.1%); shoes (3%); rubber, rubber (2.1%); food industry residues and Waste (2%); umbrellas (1.8%).

The volume of investments in the Ukrainian economy for the 11 months of 2020 (as of 30.11.2020) amounted to 79.5 million USD. Future investments are directed to already developed areas of economic activity. Significant amounts of investment receipts were directed to industrial enterprises – 33.4% and institutions and organizations engaged in wholesale and retail trade; repair of motor vehicles and motorcycles – 15.5%.

Exporters and Investors Council (EIC) under the Ministry of Foreign Affairs of Ukraine was established in 2013 in order to safeguard national interests in Ukrainian export promotion and attraction of foreign investments to Ukraine.

EIC is a platform, which unites Ukrainian producers, exporters and leading business associations providing necessary support in promoting their goods and services abroad and entering new markets, as well as attracting foreign investors and companies to Ukraine effectively using diplomatic tools, resources and networks.

The Head of the Council is the Minister for Foreign Affairs of Ukraine.

 More information - https://rei.mfa.gov.ua/en

Presentations of the regions of Ukraine

Overview of the regions


Investment opportunities in the regions of Ukraine

Interactive Map of Ukraine (Invest.ua)

Business and investment opportunities in Ukraine by regions

Ukraine has got its official website Ukraine.ua. With this modern digital platform, we want to tell a creative and inspiring story about Ukraine for the foreign visitors. Here everyone can get their first impression of the country and make a decision to come here to study, invest or travel.

Ukraine has a unique history, rich culture and diverse landscape. It is creative, dynamic and innovative country. A country of freedom and dignity. A place where a thousand-year history and ambitious visions of the future meet. Ukraine will definitely exceed your expectations.

UKRAINE.UA visitors will enjoy its lightly written and witty texts, as well as lots of beautiful and high-quality images of Ukraine, showing its diverse nature, old castles, mountains, vibrant cities and more. Millions of people over the globe will now be able to get acquainted and fall in love with Ukraine at first sight.

Be the first one to discover Ukraine! The COVID-19 pandemic times will be over one day. This will be the day to visit Ukraine and enjoy all it has to give. For now, get an online taste of it at our new online portal, UKRAINE.UA.

While being the largest country within Europe, Ukraine enjoys the benefits of location at the crossroads of major transportation routes between Europe, Asia and the Middle East.

Ukraine is a world level player in a number of industries, including agriculture, developed energy, metallurgy, chemicals, manufacturing, IT and high-tech sector. It is home to a number of global firms that began as successful startups (Grammarly, Depositphotos, MacPaw, Petcube and others). Many global companies have also established major R&D facilities in Ukraine, including Oracle, Ring, Siemens, Cisco and Samsung.

Ukraine is ranked 64th in the World Bank Ease of Doing Business 2020’s ranking , rising 88 positions since 2012. Being the most cost-efficient manufacturing platform in Europe and having 18 free trade agreements with 48 countries we have a lot to offer to investors.

On 13 February 2021 the Law of Ukraine No. 1116 “On State Support for Investment Projects with Significant Investments in Ukraine” (so-called Law on Investment Nannies) entered into force introducing a comprehensive legislative framework aimed at attracting large investments to the economy of Ukraine. According to this Law and respective amendments to the Tax and Customs Codes of Ukraine (effective as of 28 March 2021), a package of special investment incentives became available for investment projects meeting certain criteria.

In terms of looking for the information and best opportunities to invest in Ukraine, this information may be useful:

Ukraine’s export potential ( .pdf , 2.12 Мб )

Law on state support of investments ( .pdf , 659.73 Кб )

Official website of Ukraine

https://ukraine.ua/

UkraineInvest

https://ukraineinvest.gov.ua/

Export Promotion Office of Ukraine

https://epo.org.ua/en/

Office of the National Investment Council of Ukraine

http://www.nicouncil.org.ua/en/

Ministry for Development of Economy, Trade and Agriculture of Ukraine

https://www.me.gov.ua/?lang=en-GB

State Service of Ukraine on Food Safety and Consumer Protection

https://dpss.gov.ua/en

ProZorro Public Procurement system

https://prozorro.gov.ua/en

To make a specific request, please, contact Economic and Trade Office of the Embassy by e-mail: timur.baudarbekov@mfa.gov.ua

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