Friday, November 19

The development of the processing industry in 10 years might double GDP to $300 bln.

As of today, the structure of Ukrainian GDP, the processing industry accounts for only 10.1%, while in Poland this figure is 19%, and in Turkey  20%. On average, the added value of selling one ton of wheat is $50 at best, while deep processing of grain into syrups and gluten guarantees $300 of added value. Ukraine continues to export up to 75% of the grown grain annually, while the neighboring countries export only 4-5%. The creation of a high-tech processing industry with the involvement of IT professionals will double the national GDP in 10 years, bringing this figure to $ 300 billion, reported ukrinform.

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The newly-elected Chancellor, Olaf Scholz, is ready to support Ukraine’s move towards EU membership. The coalition agreement of the new German government contains a clause stating its readiness to support Ukraine’s movement towards membership in the European Union. The agreement reads, “We will work together with the EU and its Member States to further develop the Eastern Partnership and a market economy. It is also noted that the German government will continue to assist Ukraine in restoring its full territorial integrity and sovereignty”.

A senior EBRD delegation is starting a week-long trip to Ukraine to meet with the country’s authorities and private sector companies. The delegation will include Alain Pilloux, the Vice President of Banking and in charge of Bank lending; and Mark Bowman, the Vice President for Policy and Partnerships.  The visit is to reconfirm the EBRD’s support for Ukraine, its reform agenda, and sustainable development. Discussions will focus on the decarbonization of the Ukrainian economy in line with the country’s updated Nationally Determined Contribution, the development of sustainable infrastructure, and the investment