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Parliament promotes maritime trade in Ukraine
15:43, 17 January 2017
Parliament promotes maritime trade in Ukraine

The MPs passed amendments to Code of trading marine navigation in the first reading on Tuesday

15:43, 17 January 2017

Ship sailing under Ukraine's flag
infokava.com

Ukraine’s lawmakers supported the bill aimed to promote the maritime trade in the country. During the Tuesday plenary session, 234 MPs voted for the bill No.2712 in the first reading.

The bill allows vessels to sail under the flag of Ukraine, even if they belong to individual entrepreneurs or corporate entities, including those funded by foreigners. From now on, ships owners will not need a special license from the Infrastructure Ministry for coastal shipping.

The MPs say that since 1991, the number of vessels flying Ukrainian flags has been drastically decreasing; in 1991, there were 375 such vessels, while in 2014, this number only reached 46.

Currently, Ukrainian companies own over 200 large- and medium-sized vessels flying flags of foreign countries.  

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