The government has approved the Export Strategy up to 2030: details
This was announced by the Ministry of Economy of Ukraine.
The Cabinet of Ministers has approved Ukraine’s Export Strategy for the period up to 2030.
The main aim of the document is to change the structure of Ukrainian exports. The government wants to gradually move away from the raw materials model and increase sales abroad of products with higher added value.
It also aims to strengthen the presence of Ukrainian businesses in foreign markets, develop the processing industry, support exporters, attract investment and expand export financing.
What the strategy entails
By 2030, the government plans to increase exports of goods and services from $48 billion to $85 billion.
The strategy also aims to reduce the share of raw materials and low-value-added products in exports from 87.3% to 59%.
They aim to increase the share of service exports to 25%.
Another target is to raise the ratio of exports to GDP to 33%.
The Ministry of Economy notes that the strategy should help the Ukrainian economy become more resilient and competitive in foreign markets.
What needs to change for businesses
To achieve these goals, the government promises to develop support tools for exporters.
This involves simplifying Ukrainian companies’ access to foreign markets, promoting high value-added products, developing processing, and attracting investment in manufacturing.
Particular emphasis is placed on export financing. This should help companies enter new markets, scale up production and compete with foreign manufacturers.
Questions regarding the calculations
MP Nina Yuzhanina pointed out that the targets themselves look ambitious but require explanation.
According to her, it is important to see not only the final figure of $85 billion in exports by 2030, but also the calculations on which it is based.
Yuzhanina asked which specific sectors are expected to generate the additional $37 billion in exports.
In her view, without an answer to this question, the $85 billion figure looks more like a target than an economic forecast.
Why this matters
Ukrainian exports remain one of the key sources of foreign exchange earnings, business activity and budget revenue.
At the same time, the structure of exports still depends to a large extent on raw materials and products with a low degree of processing. It is precisely this problem that the government identifies as one of the main issues in the new strategy.
The key question now is whether the government will have enough concrete tools to translate the strategy’s targets into real growth in production, new contracts and additional foreign exchange earnings.
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