The Deputy Trade Representative of Ukraine, Taras Kachka, announced that the Ministry of Economy is working on a new Export Strategy for Ukraine for the period up to 2030. The main priorities of this strategy include the implementation of the “Made in Ukraine” policy, the development of the processing industry, the modernization of export support tools, and strengthening cooperation between the state and business.
This is reported by Finway
Main Goals of the Strategy
Among the key goals of the new strategy are:
- increasing the volume of exports of goods and services to $77 billion per year;
- raising the share of exports in GDP to 33%;
- reducing the share of raw material exports to 59%.
In 2023, exports brought Ukraine approximately $51 billion in foreign currency revenues; however, the share of exports in GDP decreased from 49% in 2014 to 25%. This indicates serious problems, particularly the high share of raw materials in the total export volume.
Planned Steps to Support Exports
To achieve the set goals, the introduction of new export support tools and the improvement of existing financial mechanisms are planned. Among the proposed measures are:
- development of the Export Credit Agency (ECA) and the Office for Entrepreneurship and Export Development;
- creation of an Export Development Fund;
- improvement of the quality of Ukraine’s trade and economic representation abroad;
- expansion of business access to educational, informational, and consulting services.
The implementation of the strategy will also take into account the needs of post-war recovery and Ukraine’s adaptation to European Union standards. It is expected that this will lead to a renewal of the export structure, an increase in the competitiveness of Ukrainian goods and services, as well as compliance with the requirements of European markets.