Ukraine plans to create national exchange for trade in capital, goods in three years with support of EBRD, USAID – PM

Ukraine plans to create national exchange for trade in capital, goods in three years with support of EBRD, USAID - PM

Ukraine plans to create a national exchange for trade in capital and commodities in three years with the support of the European Bank for Reconstruction and Development (EBRD), the American Chamber of Commerce in Ukraine and USAID, Prime Minister Denys Shmyhal has said, following the results of signing a memorandum of understanding with the indicated parties in the field of national exchange trade in capital and organized commodity markets.

“According to the agreements, in the next three years it is planned to create an integrated center of capital and commodity markets in Ukraine – the National Exchange for Trade in Capital and Commodities (NEXT),” the prime minister said on Telegram.

He noted that the memorandum is “a new page in the economic history” of Ukraine.

“Ukrainians will receive new opportunities in the form of financial instruments for saving and investing. Businesses will receive a long-term and cheaper resource for the development of their own enterprises. The state will receive increased investment, new jobs, economic development,” Shmyhal added.

“Now we are talking about an agreement on the creation of a basis for further cooperation of all parties interested in the process and further development of the forms and essence of a universal hub adapted to Ukrainian market realities,” the co-chairman of the Opposition Platform-For Life party faction, Yuriy Boiko, said on Telegram, citing head of the National Securities and Stock Market Commission Ruslan Magomedov.

According to Boiko, in the future, such a project may provide market participants with the opportunity to hedge their risks by trading in derivatives and will greatly benefit Ukrainian and international producers and traders.

(C)INTERFAX UKRAINE 2021

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