Doing business
After the terrorist country’s military invasion of Ukraine, the Government of Taiwan joined the world countries in condemning the actions of the aggressor and imposing economic sanctions against the Russian Federation. Numerous actions in support of Ukraine took place in Taiwan, and the country’s leadership actively supports the collection of donations and humanitarian aid for Ukrainians.
The distance between Kyiv and Taipei is almost 8,000 km. Despite such a colossal distance, there is a Ukrainian community on the island. Before the full-scale invasion of the Russian Federation into Ukraine, it numbered about 100 people, now there are almost 200 Ukrainians living in Taiwan. Since the beginning of the full-scale war, demonstrations of solidarity with Ukraine have been regularly held in Taipei and other cities. Actions are mainly organized by Ukrainians, but many Taiwanese also join.
Humanitarian aid in the amount of $33 million, as well as a large volume of goods to help Ukrainian citizens and refugees in neighboring countries, was collected thanks to the government campaign conducted during March 2022. In total, Taiwan transferred 562 tons of material aid to Ukraine. Taiwan President Tsai Ing-wen, Vice President William Lai and Prime Minister Su Zhenchang donated their monthly salaries as humanitarian aid. The support from Taiwanese citizens and the government is all the more incredible, since Ukraine and Taiwan do not currently have diplomatic relations.
In total, Taiwan transferred 562 tons of material aid to Ukraine. Taiwan President Tsai Ing-wen, Vice President William Lai and Prime Minister Su Zhenchang donated their monthly salaries as humanitarian aid. The support from Taiwanese citizens and the government is all the more incredible, since Ukraine and Taiwan do not currently have diplomatic relations. Yes, the biggest aid to Taiwan is not so much that it supplies Ukraine as that it blocked supplies to the Russian Federation.
The government of Taiwan will join efforts to block the access of Russian banks to the SWIFT international payment system. Prime Minister Suu Kyi said “Taiwan is in step with its democratic partners” around the world on its sanctions decision, adding that on the issue of the SWIFT disconnection, Taiwan’s government will “cooperate” to comply with the sanctions’ regime against the Russian Federation.
Taiwan has repeatedly allocated funds for the reconstruction of Ukrainian cities, in particular, it provided $3 million to Kyiv in April. Another $5 million was allocated to medical facilities, and over a million was allocated to the reconstruction of churches. Also, Taiwan will provide $6 million to rebuild Ukrainian cities from the consequences of the Russian invasion. The head of the Taiwanese Foreign Ministry said that Kharkiv will receive $2 million for the reconstruction of the city. Another $500,000 each will be transferred to Chernihiv, Mykolaiv, Sumy, and Zaporizhzhia. The money will be used to restore schools and civil infrastructure.
The Ministry of Foreign Affairs of Taiwan is preparing a budget of $56 million for 2023 for financial assistance to Ukrainians. The Taiwanese government intends to support schools and hospitals in Ukraine, and work together with like-minded partners such as Lithuania, Slovakia, the Czech Republic, Poland, etc. to help restore and rebuild Ukrainian cities and infrastructure.
Taiwan supplies Ukrainians with humanitarian and financial aid. Most of this aid came from private citizens and companies — a clear sign of sympathy for the Ukrainian people.
Another example of assistance to Taiwan was the transfer by XDynamics of ten reconnaissance VTOL UAVs worth about $35,000, the supply of medical and other goods, as well as financing of medical institutions and Ukrainian refugees. Also, Taiwan transferred 800 short-range Revolver 860 bomber drones to Ukraine.
The analysis of export and import transactions of Dnipropetrovsk region with Taiwan also demonstrates the growing level of partnership relations, because the specified state is an important trading partner of the region.
According to the results of 2021, the volume of export of goods from Dnipropetrovsk region increased 6 times ($4.23 million), which was 3.9% of the volume of Ukraine to Taiwan. Among the goods that have the greatest demand among Taiwanese consumers are ferrous metals and their products, fertilizers, etc.
Export operations were carried out by 5 enterprises from Dnipropetrovsk region.
The main exporting companies are enterprises of the metallurgical complex and the processing industry.
Exporting enterprises:
The import of goods from Taiwan to Dnipropetrovsk region amounted to $15.6 million (5.3% of Ukraine’s imports from Taiwan) and decreased by 5.1% compared to 2020. Dnipropetrovsk region bought the most various chemical products, machines and equipment, optical, photographic and other devices and apparatus.
Import operations were carried out by 270 importer enterprises.
TOP-5 enterprises of importers (ranking by volume of imported products):