“The United Arab Emirates (UAE) is a major financial center of the Middle East. The UAE is one of the most economically developed countries not only on the African continent but in the whole world as well. However, for objective reasons, the food market of United Arab Emirates is import dependent. At the same time, per capita food consumption in the UAE is the biggest in the region, with the total import volume in agricultural production tending to increase. Therefore, this market is very promising from the viewpoint of increasing the exports of domestic agricultural products”, Oleksii Pavlenko, the Minister of Agricultural Policy and Food of Ukraine, stressed.
According to the Minister, the analysis of the current state of trade and economic relations between Ukraine and the United Arab Emirates in agricultural sphere suggests that in the nearest future, we possess good prospects for development of bilateral economic cooperation on a new quality level, despite the turnover reduction in 2015 compared to 2014.
“We have proved that Ukrainian agricultural sector, even in the difficult social and economic conditions, is able not only to ensure the food security of our own country but also to export successfully the domestic products to other countries. Currently, we supply products to 190 countries of the world and this is only the beginning”, the Minister stressed.
Oleksii Pavlenko further reported that the trade turnover between the two countries in 2015 amounted to $141 million while the balance remained positive: the exports amounted to $134 million, and import accounted for $7 million. The major items of agrarian export from Ukraine to the United Arab Emirates include oil ($48 million) and oilseeds ($23 million), eggs ($24 million), cereals ($22 million). “It is important that the latter two export items have seen an increase of 57% in the previous year. This figure is convincing that the increased Ukrainian exports to the United Arab Emirates are not mere words”, Minister Oleksii Pavlenko stressed.