Ukraine Can Raise up to $50 billion. I’m Ready to Volunteer Myself as Negotiator in National Interest, — Oleg Bakhmatyuk

The businessman spoke about it in an interview with TV presenter Dmytro Spivak on Channel 112, "Ukrainian News" reports.

According to him, the news of the creation of the world's largest economic community, the so-called RCEP (short for Regional Comprehensive Economic Partnership — ed.), went almost unnoticed by the Ukrainian media, although the creation of a free economic zone by 15 Asian countries, announced on 15 November 2020 in Hanoi, opens a window of opportunity for Ukraine to attract multibillion-dollar investments.

"What is the essence of this economic union, it is significant that it took place at a time when the US elections have already taken place, but the winner has not yet been determined. A huge centеr of economic and political influence has emerged in the world. This is about 2.2 billion people living in the region, about 30% of the global economy, and most importantly, this region is much less affected by the consequences of the pandemic than other regions of the world. It has started a period of growth, and this region is called the only driver of global GDP growth," said Oleg Bakhmatyuk.

"The emergence of this conglomerate poses a certain threat to our goods, because there will be mutual preferences exchanged by individual members of the association. But there is another side that needs to be taken into account: this is an association of the largest sovereign wealth funds.

China has $3.7 trillion, Japan $700 billion, Singapore $750 billion, and Korea $600 billion in sovereign wealth. In total, sovereign wealth funds manage approximately $10 trillion. Given that the pandemic has stimulated the issuance of money to support the economy, a huge amount has been injected into the global financial system. Accordingly, these sovereign wealth funds will depreciate," said Bakhmatyuk. — "There is another side: if you look at the composition of Ukraine's exports, we are turning into an exporter of iron ore (mainly to China), corn, wheat and sunflower oil.

We are turning into a raw-material economy, and raw materials are likely to account for up to 80% of GDP in the next two years. And those sovereign wealth funds, and I know this directly from their managers, are looking to invest in territories that will supply an important raw material for their countries. We are fully in the trend."

The businessman estimates export opportunities for Ukraine in these markets at $5-10 billion a year. "With such a commodity flow, we can easily raise $20-30 billion, and possibly up to $50 billion, including investments in government securities. The only thing is to guarantee a stable flow and quality, even the price does not matter. But Ukraine is currently not represented by champions in these markets. To enter a room, you need to open a door. There is no team of people working in this area to conduct political and economic advocacy. But now the window of opportunity is open for Ukraine, and the situation is favorable for us," said Oleg Bakhmatyuk.

He also noted that similar opportunities for Ukraine could be provided by the Middle East markets, in particular Saudi Arabia, where it is also possible to negotiate new investment to sustain food supplies from Ukraine. Bakhmatyuk said he was ready to work as a volunteer for the state in such negotiations. "I will be sorry if Ukraine does not use this opportunity. Every Ukrainian will benefit from it," the businessman said.