Agriculture Sector Offers Vast Development Potential

Mykola Prysyazhnyuk, Minister of Agrarian Policy and Food
Mykola Prysyazhnyuk, Minister of Agrarian Policy and Food

With its huge expanses of fertile farmland, temperate climate, tradition of agricultural production and significant water resources, Ukraine has long supported a thriving agriculture sector. Today, agricultural activities offer some of the country’s most promising investment opportunities.

Mykola Prysyazhnyuk, Minister of Agrarian Policy and Food, explains, “Ukraine’s agriculture sector is important not only to our country but also to the world, since Ukraine can play a major contribution to ensuring food security at a global level. The Ministry of Agriculture has a clear vision for Ukraine’s agriculture sector, and we aim to make it an even bigger contributor to the country’s GDP. Our first step is land reform.”

The Ministry of Agrarian Policy and Food is working hard to make Ukraine’s agriculture sector more attractive to foreign investors. After accomplishing necessary land reforms, the ministry wants to create a land market that will prove of interest to globally active agricultural enterprises. In addition, the ministry has placed a high priority on achieving transparency in Ukraine’s agricultural production activities.

Forging stronger international links

Ukraine is stepping up its international links in the agriculture sector, and the Ministry of Agrarian Policy and Food recently signed an agreement with the Chicago Commodities Exchange as part of its liberalisation drive. Ukraine’s agriculture sector has already attracted major investors from the EU and the US, and in 2010 Ukraine’s agricultural
enterprises achieved a total US$8 billion (€5.6 billion) in foreign exchange revenues. Autumn 2011, the Ministry of Agrarian Policy and Food presented an updated development plan for the agriculture sector during a meeting of the EU Parliament.

Mykola Prysyazhnyuk points out that Ukraine is a natural for agricultural development. He says, “In addition to all its other advantages for agricultural production, Ukraine is strategically located between the EU and Russia and is steadily adopting EU standards. We want foreign companies to know that they will find stability and a clear regulatory environment here, and that Ukraine is very well placed to be a top European agricultural production centre.”

Urging foreign investors to take a closer look at Ukraine’s agriculture potential, Minister Prysyazhnyuk concludes, “We welcome investments in agricultural infrastructure, grain production, and in new techniques, equipment and technologies. For example, we do not have enough combines for grain harvesting and have been experiencing some losses. The Ministry of Agrarian Policy and Food is fostering a liberalised, open agriculture sector in Ukraine, and we are confident that agriculture will become the leading industry in the Ukrainian economy.”