The development of processing and broadened opportunities for Ukrainian exporters: What does Ukraine’s new export strategy until 2030 entail?

According to Taras Kachka, the deputy trade representative of Ukraine, the export strategy that is currently being formulated by the Ministry of Economy prioritizes the Made in Ukraine initiative, stimulation of the processing sector, modernization of export support tools, and the enhancement of collaboration between the state and the business community.

Key goals of the strategy include:

1. Boosting annual exports of goods and services to $77B
2. Raising the export share of GDP to 33%
3. Decreasing raw material exports to 59%

Last year, export activities contributed approximately $51B in foreign exchange revenue. However, the export share of GDP dropped from 49% in 2014 to 25% in 2023, and the high proportion of raw materials in total exports continues to pose a significant challenge.

To achieve the strategy’s goals, plans include initiating new export support mechanisms and refining current financial solutions:

1. Developing of the Office for the Development of Entrepreneurship and Exports, and establishing an Export Development Fund
2. Enhancing the quality of trade and economic representation of Ukraine’s interests globally
3. Increasing business access to educational, informational, and consulting resources

The strategy’s implementation will consider the requirements for post-war reconstruction and Ukraine’s integration with EU standards.