The main goal is to reach not only pre-war export volumes, but also greater profits, the Ministry of Economy said.
At the end of January, Ukraine exported 12 million tons of products – this is a record figure since the beginning of the full-scale invasion of Russia. The Ministry of Economy announced this on Monday, February 5.
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“We are close to reaching the volume of physical exports before the war. In January 2024, Ukraine exported 12 million tons of products. This is only two million tons less than in January 2022 before the war .Of these, 8.7 million tons were exported by sea.” , – said the First Deputy Prime Minister – Minister of Economy Yulia Sviridenko.
He emphasized that last month the first ship insured against war risks under the UNITY program went to the ports of Greater Odessa. The cost of insurance is 0.75% of the vessel’s value, which is significantly cheaper than under the previous BCGI insurance regime.
“Our goal is to reach not only pre-war export volumes, but also greater profits. This will be possible when Ukrainian exporters can freely ship containers by sea. And this will be possible only when the insurance market for maritime transport continues Therefore, for us it is so Important that insurance becomes more accessible,” added Sviridenko.
The Unity ship insurance program is implemented by the Ukrainian government together with Marsh McLennan and a group of insurance companies led by ASCOT. It is designed to reduce the cost of insurance for sea transportation of grain and other food products in the territorial waters of Ukraine. Total coverage under the program is $50 million.
According to the calculations of the Ministry of Economy, this mechanism will reduce the cost of grain insurance to an average of 2.5% of the cost of the insurance tariff. This will allow grain traders to save about 100-140 UAH per ton of cargo, and in general it will bring an additional up to 4 billion UAH to agricultural producers.
We remind you that in 2023, Ukraine’s trade turnover will reach almost $100 billion. Our country imported the most goods from China – $10.4 billion, and exported to Poland – $4.7 billion.
It was also reported that Ukraine for the first time surpassed Russia in trade with Germany.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.