The Ministry of Foreign Affairs of Ukraine held a briefing on market entry and doing business in the UAE for Ukrainian exporters
On December 14, 2021 Exporters and Investors Council (EIC) under the Ministry of Foreign Affairs of Ukraine, Embassy of Ukraine in the United Arab Emirates and Ukrainian Business Council in the UAE held an online briefing on market entry opportunities and doing business in the UAE. Deputy Foreign Minister (CDTO) Dmytro Senik and Ambassador of Ukraine to the UAE Yuriy Polurez opened the event for Ukrainian exporting companies.
The UAE is the second largest market for Ukrainian products in the Gulf region. The market is traditionally one of the largest importers of Ukrainian agro-industrial goods in the Middle East. «According to a survey of EIC members under the MFA of Ukraine, the UAE was included in the list of TOP-10 most desirable new markets for Ukrainian business expansion. I am pleased to note that the UAE leaders also consider Ukraine one of the most promising partners for food security», – Dmytro Senik said in his welcoming speech at the event.
Ukrainian diplomats and representatives of Ukrainian Business Council in the UAE informed Ukrainian exporters about doing business in the UAE, the opportunities provided by the free economic zones, taxation details and labour legislation in the UAE. The participants also learned about trade regulations, including import and sales rules, payment terms, etc.
«The UAE’s market is a very competitive one. It requires manufacturers to maintain an impeccable business reputation, high quality and flexibility. On the other hand, the overcoming of all the challenges in this market results in stable and long-ranged contacts and gives an opportunity to enter the markets of other Middle Eastern countries», –Dmytro Senik noted.
Reference: according to the State Statistics Service of Ukraine, the total volume of trade in goods and services between Ukraine and the UAE in 2019 amounted to $1,65 billion. In 2020, the Ukraine – UAE bilateral trade and economic cooperation declined slightly due to the COVID-19 pandemic. According to the results of 9 months of 2020, the total volume of bilateral trade in goods and services amounted to $682 million. Exports of Ukrainian food products increased significantly, in particular: exports of meat products increased by 2.5 times, exports of fats and oils increased by 30%, exports of dairy products increased by 15%, and exports of cereals - by 12% this year.
Exporters and Investors Council (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, attracting foreign investors and companies to Ukraine and creating matchmaking opportunities for the businesses.