In the context of Russia’s military aggression against Ukraine, the United Kingdom has proven to be one of the key partners and friends of our country, providing relevant and timely support. In particular, it is the supply of the necessary weapons and military equipment, the introduction of effective sanctions against the aggressor country, the formation of support mechanisms for the economy of our state.

The decision of the United Kingdom to provide Ukraine with financial assistance in the amount of $500 mln in credit guarantees to mitigate the economic consequences of Russian criminal actions is especially relevant. This will allow the Government of Ukraine to continue to implement all protected expenditures and social programs. Britain has also provided £394 mln to our country to ensure the continued operation of vital humanitarian services for Ukrainians. In addition, the British Government has joined two new mechanisms for financial support to Ukraine – the World Bank Trust Fund and the IMF Special Account to obtain previously allocated Special Drawing Rights (SDRs).

At the request of the Ukrainian Government, the United Kingdom liberalized tariffs on the vast majority of imports from Ukraine and provided customs easements as a contribution to ensuring the economic stability of our country.

In particular, the United Kingdom abolished all quotas under the Free Trade Agreement, as well as duties on goods from Ukraine, including flour, grain, corn, dairy products, poultry and semifinished products, tomato paste, honey, juices, mushrooms, sugar and many other goods. Industrial goods are already in the duty-free regime. Thanks to this decision of the United Kingdom, Ukraine will be able to increase exports of goods traditionally imported into the British market, more flexible planning of export logistics and in the long run to increase exports of high value-added goods.

Early introduction of zero tariffs on tariffs and quotas on Ukrainian goods under the Free Trade Agreement will have a positive impact on the activities of 65 British companies in Dnipropetrovsk region, which invested $10.7 mln in the region’s economy, and domestic export-oriented enterprises.

According to the results of 2021, the volume of exports of goods from Dnipropetrovsk region increased 3 times ($49.1 mln), which was 4.5% of Ukraine’s volume to the United Kingdom. Among the goods most in demand by British consumers are ferrous metals and their products, fats and vegetable oils, machinery and equipment, electrical machinery, plant products, railway equipment, and more.

Export operations were carried out by 65 enterprises from Dnipropetrovsk region.

The main exporting companies are enterprises of the metallurgical complex, mechanical engineering and processing industry.

TOP-5 exporting companies (ranking by volume of export products):

Imports of goods from the United Kingdom to the Dnipropetrovsk region amounted to $ 49.6 million (4.4% of Ukraine’s imports from the United Kingdom) and increased by 12.2% compared to 2020. Dnipropetrovsk region mostly bought machinery and equipment, alcoholic beverages, pharmaceuticals, land vehicles and other products.

Import operations were carried out by 272 importer enterprises.

TOP-5 importers’ enterprises (ranking by volume of imported products):

Among the promising areas for export to the UK are railway equipment, metallurgical products for the mining and construction sectors, organic products for the agro-industrial sector and light industry products from natural materials.

It should be noted that a number of agro-industrial products in the region, which occupy leading positions in Ukraine and have significant export potential, still account for a small share of supplies to the UK. Such products include: oil seeds, corn, walnuts, honey and poultry.