Ukraine’s exports to the UK grew by 38% YoY in the first quarter of 2021, while IT services exceeded traditional export groups.
“In the first quarter of this year, our exports to the UK grew by 38%. I do not know whether it is the result of signing of the Political, Free Trade and Strategic Partnership Agreement or the efforts of our business, or even the work of the embassy. If we keep this pace until the end of the year, Britain will become one of the main partners of Ukraine,” Ambassador of Ukraine to the United Kingdom Vadym Prystaiko said during the panel discussion entitled “New Partnership in Times of Pandemic” organized by the Ukrainian Prism Foreign Policy Council.
According to the diplomat, the United Kingdom is already among the five largest consumers of Ukraine’s services and is the third largest investor in Ukraine’s economy.
“The most important thing is that we do not follow traditional paths but study the possibility of developing cooperation in modern sectors, such as FinTec, IT, etc. Our export cooperation, for example, in IT is greater than in four traditional groups, such as metal, agricultural products, oil. I believe that this is the trend that Ukraine needs to constantly foster and maintain,” the Ambassador said.
On December 16, 2020, the Verkhovna Rada of Ukraine ratified the Political, Free Trade and Strategic Partnership Agreement between Ukraine and the United Kingdom of Great Britain and Northern Ireland. (Ukrinform/Business World Magazine)