Ukraine has planned to develop trade and economic cooperation with South Africa according to the recent media reports. The country expects that this development of relations with South Africa will contribute to expanding the Ukrainian products’ presence in the South African Community.
Taras Kachka, Ukrainian Economy, Trade and Agriculture Development Deputy Minister – Trade Representative of Ukraine paid a visit to the Republic of South Africa. Later he addressed the media and stated that “Ukraine is interested in further developing relations with South Africa in the trade and economic sectors and increasing bilateral trade. We consider it promising for both countries to increase exports of Ukrainian agricultural and industrial products to the South African market.” He further mentioned the importance of both the countries to deepen relations at the level of business circles, hold B2B meetings and conclude relevant agreements and cooperation at the intergovernmental level.
Ukrainian businesses are expecting to meet South African businesses in the agro-industrial complex, food industry, pharmaceuticals, engineering and automotive, the production of organic fertilisers and the ICT sector. This international trade relations between the two countries is said to also hope to lessen the impact of the pandemic due to Covid-19. It is to note that economic recovery is the key strategy to raise from the effects of the pandemic as employment opportunity is the highest priority. Undeniably, the South African agricultural sector has the potential to provide a great contribution towards the recovery of the economy and the agricultural sector of Ukraine is also equally strong. Thus it will complement and be beneficial to each other.