Zelensky meets with representatives of largest tobacco companies in Ukraine

09:50, 08 November 2019
Economy
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www.president.gov.ua

The parties discussed the market situation, including reports on the possible transfer from Ukraine of companies' regional head offices and the shutdown of some manufacturers' capacities, according to the president's press service.

"The growth of investment into the economy of Ukraine is important for us, as it is an increase in the number of jobs and tax revenues," the head of state said.

The president stressed that tobacco companies were one of the largest taxpayers, and tax revenues were increasing: over the nine months of this year, they were up 7.5% - to almost UAH 30.5 billion.

The head of state emphasized that the issue of improving the business climate and ensuring the predictability of state policy and market regulation were important for Ukraine. He also said that combating monopolies and building competitive markets was also a priority.

Volodymyr Zelensky noted interest in increasing the export of tobacco products made in Ukraine.

Read alsoCabinet set to address concerns of cigarette manufacturers "shortly", Ukrainian PM says

In addition, emphasis was placed on the need to address the problem of the shadow market of tobacco products.

The meeting was attended by representatives of British American Tobacco, Philip Morris Ukraine, JTI and Imperial Tobacco, Executive Director of the European Business Association (EBA) Anna Derevyanko, Minister of Economic Development, Trade and Agriculture of Ukraine Tymofiy Mylovanov, Minister of Finance Oksana Markarova, Head of the State Tax Service of Ukraine Serhiy Verlanov, Chairman of the Antimonopoly Committee Yuriy Terentyev and Chairman of the Committee on Finance, Tax and Customs Policy Danylo Hetmantsev.

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