The government will compensate Ukrainian manufacturers for up to 70% of costs for international exhibitions

The Cabinet of Ministers of Ukraine has adopted a decision on state support for processing industry enterprises participating in international exhibitions. From now on, the state will compensate manufacturers for up to 70% of the costs of participating in foreign specialized events, and industry associations for up to 100% of the costs.

The government adopted the relevant resolution the day before.

The document provides for financial support for Ukrainian processing industry enterprises that will present their products at international exhibitions within the framework of national stands of Ukraine. The list of exhibitions in which participation will be subject to compensation will be determined by the Ministry of Economy, Environment and Agriculture of Ukraine.

The government explains: the decision is aimed at strengthening Ukraine’s export potential and expanding the presence of Ukrainian goods on world markets in conditions of martial law.

The compensation will cover costs related to organizational contributions, rental of exhibition space, arrangement of stands and necessary equipment.

As noted by the Deputy Minister of Economy, Environment and Agriculture of Ukraine, Taras Vysotsky, participation in international exhibitions opens up new sales markets for Ukrainian producers, allows them to increase exports and foreign exchange earnings, search for partners, promote their own brands and get acquainted with modern global technologies and quality standards.

“In conditions of war, such support from the state is an important tool for the development of the processing industry, the creation of added value and strengthening the economic stability of the country,” Vysotsky emphasized.

The resolution was developed jointly with the Federation of Employers of Ukraine. Representatives of the government and the business community together developed a mechanism for compensating for costs and a procedure for providing support to Ukrainian producers.

It is expected that the new program will help small and medium-sized enterprises to more actively enter international markets even in conditions of war and a difficult economic situation.