Dmytro Senik: Ukrainian business to take advantages of multibillion opportunities in US
03 November 2020 21:17

On 3 November 2020, the Council of Exporters and Investors under the Ministry of Foreign Affairs of Ukraine (REI) held an online briefing entitled "Ukraine - USA: Perspectives and Peculiarities of Ukrainian Companies Entering the American Market". 

Deputy Minister for Foreign Affairs of Ukraine (CDTO) Dmytro Senik, Ambassador of Ukraine to the United States Volodymyr Yelchenko, heads of Consulates General of Ukraine in New York, San Francisco and Chicago, as well as about 30 representatives of Ukrainian business took part in the briefing.

Deputy Minister Dmytro Senik mentioned that the United States is the number one importer of goods and services in the world. “The price of entering the American market is high, but the opportunities it gives are impressive. An interesting detail - in 2019, the export of Ukrainian services to the United States amounted to $1.2 billion and exceeded the export of Ukrainian goods by $100 million. The goal of the Ministry of Foreign Affairs is to help businesses maintain this positive trend towards increasing exports of Ukrainian goods and services to the United States’’,  the diplomat said.

Dmytro Senik stressed that Ukrainian business may use the already created opportunities of preferential treatment for exporters under the Generalized System of Preferences of the United States (GSP). According to him, products that fall under the duty-free regime of import include a wide range of agricultural and industrial goods. “In 2019, Ukraine exported goods worth $54.8 million under the GSP. For comparison, US import under the GSP from Georgia amounted to $112 million and $4.8 billion from Thailand’’, said the Deputy Minister.

He also added that Ukraine, as a signatory to the Agreement on Government Procurement (GPA), has access to the United States public procurement market, which amounts to about $300 billion per year.

During the briefing, the diplomats provided detailed information of the opportunities for Ukrainian exporters, including practical recommendations for food industry companies willing to enter the US market. The participants were offered valuable advice and recommendations, discussed the prospects for cooperation and opportunities to expand their presence on the US market.

Dmytro Senik drew the attention of business representatives to the fact that the Foreign Ministry of Ukraine considers diplomatic support of Ukrainian exporters as one of the priorities. "The doors of our diplomatic missions are open for you, and diplomats are ready to help you enter new markets and promote Ukrainian products," the Deputy Minister stressed.

In order to promote Ukrainian products on foreign markets, the Council of Exporters and Investors under the Ministry of Foreign Affairs of Ukraine (REI) holds regular online briefings with the participation of Ukrainian ambassadors and representatives of Ukrainian business.

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