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Poroshenko says growth in exports a priority for economic development

Export growth is possible only through attraction of foreign and domestic investment.

Poroshenko says growth in exports a priority for economic development
Photo: Photo: Max Trebukhov

The elimination of barriers to boost exports should be a priority task for all stakeholders, President Petro Poroshenko stated in a video address to the participants of the Ukrainian Financial Forum, which kicked off in Odessa on 29 September. The forum was organized by the ICU Group, which advises Poroshenko about the pre-sale restructuring of his businesses and their transfer to a "blind trust".

"A partial replacement of imports by domestic products will contribute to a decrease in foreign currency costs and stimulate domestic production. At the same time, the export potential of Ukrainian economy is not being used to its true capacity. The elimination of barriers to boost exports should be a priority task for all stakeholders," said Poroshenko.

He also noted the importance of attracting foreign and domestic investors.

"The recently created National Investment Council will focus on strategic communications, cooperation and permanent dialogue with investors at all levels," added the president.

LB.ua has recently wrote about the growth of imports over exports, which creates imbalances in the economy.