The growth of capacities in the ports of Ukraine influenced the increase in grain exports

For the 2021/2022 marketing year, Ukraine plans to export more than 60 million tons of grain. This is due to the fact that over the past 5 years, the throughput of seaports has almost doubled.

Deputy Minister of Economy of Ukraine Taras Kachka told about it.

“Even 10 years ago, the issue of the throughput of Ukrainian seaports caused lively debate, but over the past 5 years their capacity has increased – from 49.3 million tons in 2016 to 81.5 million tons in 2021. The shipping industry is operating without delay, while we are witnessing the volatility of prices for rail transportation. In this context, the strategy of the Ukrainian government is aimed at developing infrastructure in order to interest investors in this industry”, said Taras Kachka.

The Deputy Minister added that growing global demand amid easing quarantine restrictions raised freight rates to multi-year highs and boosted industry revenues. According to him, this creates opportunities for additional investments in the latest technologies, digitalization, automation, etc.

Taras Kachka also noted that in the context of the effective use of new opportunities, Ukraine is implementing a number of measures within the framework of the WTO Agreement on Trade Facilitation.

It is noted that the completion of the process of implementation of the agreement will simplify the conduct of foreign economic activity by transferring the interaction of business with customs and regulatory authorities into a new format. This will allow Ukraine to enter the list of TOP countries with the safest and most comfortable business conditions.