Oleksandr Klymenko Offers 3-Step Plan to Strengthen Ukraine's Foreign Trade

KIEV, Ukraine, September 9, 2014 /PRNewswire/ --

Former Ukrainian Minister of Revenues and Duties Oleksandr Klymenko (http://oleksandrklymenko.com) recently assessed current foreign trade-related economic conditions in Ukraine and presented concrete measures for growth.

Oleksandr Klymenko noted while Ukraine's exports exceeded imports by a thin margin over the first seven months of 2014 - a positive indicator for the country which previously relied more heavily on bringing in goods - overall foreign trade activity was down 17%.

"The path of mutual sanctions with Russia, a traditional partner in commerce which receives 20% of Ukrainian foreign trade, is a road to nowhere. It is necessary to de-escalate conflict with Moscow in many respects, including economically and militarily," Klymenko stated. The leader further commented, "Simultaneously, penetration of Ukrainian business in EU markets should not only be maintained but strengthened."

Oleksandr Klymenko added that given the vital nature of exports to Ukraine's economy, it was incumbent upon the Government to strike down cumbersome trade restrictions and assist businesses in expanding operations.

A reformer who instituted successful, far-reaching initiatives while in office, Klymenko (http://oleksandrklymenkotaxesukraine.com) outlines three actions to bolster his country's foreign trade activity:

1. Inclusion of economic attachés in diplomatic missions: With initial focus on countries that are traditional or promising foreign trade partners, economic attachés provide invaluable assistance to Ukrainian entrepreneurs and position the nation as an important investment environment for foreign businesses. This step involves limited budget requirements with potential high rates of return.

2. Introduction of authorized economic operators: A company with such status enjoys virtually unrestricted access to EU markets - upon Ukrainian passage of legislation and adoption of relevant agreements with partner countries.

3. Deregulation of foreign trade activities: With numerous government agencies involved in export-import regulation, uniform automation of all procedures would streamline operations and effectively work toward elimination of corruption.

Klymenko, who served as Minister of Revenues and Duties from December 2012 to February 2014 (http://oleksandrklymenko4euintegration.com/), concluded, "I am certain that only systematic and persistent work by the Government in advancing these aims will restore businesses' faith in Ukraine and propel foreign trade turnover in the right direction."

A recent detailed report in Forbes Magazine (http://forbes.ua/nation/1369815-aleksandr-klimenko-sistemy-obnalichki-nelzya-pobedit-za-odin-den) outlines the reforms instituted while Oleksandr Klymenko served as Ukraine's Minister of Revenues and Duties. The official's innovations during his term in office "have been already implemented and are de facto, ready-to-go solutions for carrying out further reforms."

 

For additional information:
  Andrey Sokolov, Adviser to Oleksandr Klymenko
[email protected] / +380677658787

SOURCE Office of Oleksandr Klymenko