Ukrainian PM names 3 key factors behind the maritime corridor's success
More than 2,300 ships have entered Ukraine's Black Sea ports over the past year since the opening of the Ukrainian maritime corridor. The cargo throughput has exceeded 64 million tonnes.
Source: Ukrainian Prime Minister Denys Shmyhal at a government meeting
Details: Moreover, he said that nearly 44 million tonnes of grain were exported from Ukraine.
Shmyhal also noted that this had a positive impact on various sectors of the economy and on the economy overall, with Ukrainian exporters increasing their sales volumes by 35% in the first half of 2024. The country has reached pre-war export levels.
He said this result was made possible by three factors:
Quote: "First and foremost is the successful operations of our security and defence forces in the Black Sea. Second is the unique initiative to insure war risks for commercial vessels, which we are doing in cooperation with international insurance companies. Third is the reconstruction of Ukrainian port infrastructure and investment in its development," Shmyhal said.
Background:
- Russia unilaterally withdrew from the Black Sea Grain Initiative on 17 July 2023.
- On 10 August 2023, Ukraine created temporary corridors in the Black Sea to enable the safe passage of trade ships heading to and from Ukrainian ports.
- In January 2024, Ukraine reached pre-war naval export volumes thanks to the sea corridors it created.
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