Cabinet of Ministers Expands Opportunities for Defense Industry and Mechanical Engineering

On June 21, 2024, the Cabinet of Ministers of Ukraine adopted a decision allowing the National Bank of Ukraine (NBU) to establish exceptions to the deadlines for settlements on export and import transactions for the defense industry. This decision aims to support strategically important sectors that ensure the country’s defense capability.

Key Changes

1. Defense Industry:
   • The NBU has been granted the authority to set exceptions to settlement deadlines for the defense industry, allowing for more flexible responses to the needs of this sector.
2. Mechanical Engineering:
   • The government has recommended extending the settlement periods for transactions in the field of mechanical engineering or for goods with long delivery times. Specifically, it is recommended to increase the settlement period from 180 to 270 days for the following goods:
     • Machines for processing various materials, including laser and lathes, and machining centers.
     • Waterjet cutting machines.
     • Machines (including presses) for metalworking.
     • Machines and apparatus for brazing or welding.
     • Chassis, bodies, trailers, and semi-trailers.
     • Agricultural, gardening, or forestry machines for soil preparation or processing.
     • Tubes and pipes.
     • Electric motors and generators.
     • Chassis with installed engines.
3. Agricultural Production:
   • For some agricultural products such as wheat and rye, the government has recommended extending the settlement deadlines from 90 to 120 days.

How Daleth Group Supports Clients

Daleth Group offers a full range of services in customs clearance and the organization of transportation by road, air, and container transport. The company’s professionals are happy to provide consultations on contract signing, document verification, assistance with communication with the seller, and payment for goods. With us, you can be assured of the safety of your cargo.

Conclusion

These changes aim to support key sectors of Ukraine’s economy, such as the defense industry, mechanical engineering, and agricultural production, by providing more flexible conditions for international settlements. This decision will help Ukrainian enterprises better adapt to modern challenges and increase their competitiveness in the global market.