CURRENT AFFAIRS

Detailed explanation-1: -The 4th edition of India-Ukraine Working Group on Trade and Economic Cooperation (IU-WGTEC), under the Inter-Governmental Commission on Trade, Economic, Scientific, Technical, Industrial and Cultural Cooperation was held in New Delhi.

Detailed explanation-2: -In 2021, the bilateral trade between Ukraine and India amounted to 3.45 billion USD. Export of goods from Ukraine - 2.49 billion USD, import of goods from India - 961.2 million USD. Positive trade in goods balance for Ukraine - 1.53 mln. USD.

Detailed explanation-3: -India Exports to Ukraine was US$509.94 Million during 2021, according to the United Nations COMTRADE database on international trade. India Exports to Ukraine - data, historical chart and statistics - was last updated on January of 2023. Base metals not specified elsewhere, cermets.

Detailed explanation-4: -India’s exports to Ukraine include pharmaceuticals, telecom instruments, groundnut, ceramic, iron and steel, while imports comprise vegetable oils, fertilisers, inorganic chemicals, plastic and plywood and allied products.

Detailed explanation-5: -India has an extensive bilateral relationship with Ukraine, spanning all spheres of cooperation. India was one of the first countries to recognize Ukraine. Government of India recognized the Republic of Ukraine as a sovereign country in December 1991 and established diplomatic relations in January 1992.