The editors of money.pl decided to ask the vice-president of the National Bank of Ukraine about the mood in his country towards Poland. He does not spare warm words towards the Poles and the National Bank of Poland (NBP), although he also admits this. A big problem is the blockade of border crossing organized by transporters and farmers.
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Many praises for the National Bank of Poland
We asked about cooperation between NBU and NBP. Our interlocutor emphasizes in the introduction that: The Central Bank of Poland “has always been and remains” their reliable partner. Cooperation between the two institutions became considerably closer after the beginning of the Russian invasion.
Already on the first day, NBP offered NBU assistance in the areas where we needed it the most: Funding Ukraine under the Currency Swap Agreement has supported the NBU in its business continuity efforts and helped us communicate with international partners, says Serhii Nikolaychuk.
– This was followed by an unprecedented campaign to exchange Ukrainian cash for local cash. NBU implemented the program together with nine central banks of other EU countries. NBP not only made a significant contribution to the architecture of the hryvnia exchange project and became the first central bank to introduce this type of support for Ukrainian citizens, but Became the main center collecting hryvnia cash exchange in ten European countries before returning to Ukraine – The deputy head of the NBU does not hide his gratitude.
He notes that for this initiative, both banks received the Central Bank Award in the Currency Manager category in 2023. Nikolaychuk emphasizes that this is a confirmation of the cooperation that both sides are developing in existing areas and in overcoming new challenges.
NBU sincerely thanks NBP for long-term comprehensive cooperation and Support for reforms aimed at strengthening the institutional capacity of the NBU, as well as for integration with the European community. Nikolaychuk summarizes.
The border blockade will affect the relations between the two countries
The representative of the Central Bank of Ukraine is also grateful for the help that the Poles provided to his compatriots on the first day of the invasion. – We appreciate the support that Poland provides to Ukraine, including taking care of Ukrainians who found refuge in Poland after escaping the war, – he says.
Imports have declined more than exports, as the former is more dependent on road transport. especially Road transport accounts for about 35%. export value and 70 percent import values In 2023, as indicated by the data of the State Customs Service of Ukraine, explains the vice-president of the NBU.
A blow to Ukrainian trade
He points to statistics on the government website eCzercha, or electronic border crossing queue. They show that from November 6 (the beginning of the blockade) to December 17 The number of trucks on the Polish-Ukraine border decreased by 40%. compared to the October average.
During the same period, the number of trucks crossing the borders of other neighboring countries did not change enough to offset the effects of the Polish strike. IN Romania increased by 7 percent and then Hungary – by 1 percent
– The rerouting of supplies takes a long time due to very congested border crossings and additional logistical costs, – he explains.
The decline was observed at the border Moldova (by 4% i Slovakia (by 13%). In the case of the latter, it was connected with a brief blockade of one of the border crossings. However, as our interlocutor explains, the difficulties on the Ukrainian-Slovakian border will have a smaller impact on the economy of his country, as only 5 percent. Trucks entering and leaving Ukraine use Slovakian crossings.
As a result, the overall average The daily number of trucks on the land border of Ukraine decreased by a total of 23% from November 6 to December 17. Compared to October, Nikolaychuk will list.
Ukraine sees the potential of strengthening ties with Poland
At the same time, the vice-president of the NBU remains somewhat optimistic and sees further strengthening of Polish-Ukrainian trade ties.. He also emphasizes that the created geopolitical situation has created a new reality in which our countries can significantly benefit from cooperation.
He notes that Poland already plays an important role in terms of food security in the region. It also uses the labor force associated with the increased flow of Ukrainians.
After the end of the war It can become an economic “glue” that further strengthens relationships between our countries, says our interlocutor.
How can Poland and Ukraine become closer?
To this question, the deputy head of the National Bank of Ukraine answers that now both countries should build “effective mechanisms of economic cooperation”, based on the logistics and infrastructure of both countries. This will enable the development of effective models for mutual mitigation of competition-related risks. They will also bring Polish and Ukrainian businesses closer together.
I am sure of that These changes will become the basis for harmonious cooperation between us in the process of Ukraine's accession to the European Union – says Nikolaychuk.
Ukraine also wants Polish capital to come to their country. As our interlocutor points out, our neighbors want to attract investors who are interested in: infrastructure projects, development of production capacity in the border zone and joint investments in projects initiated by the private sector of Ukraine.
He adds that joint projects in the agricultural sector can “help balance the interests of our countries” when it comes to selling food in Europe. It also lists other forms of potential cooperation. They are:
- Creation of instruments for the use of resources of both countries within the framework of joint regional projects and initiatives for the restoration of Ukraine;
- insuring these initiatives against the risk of war, which may be carried out by Polish companies;
- Strengthening economic ties within the framework of the Three Seas Initiative and the Lublin Triangle – here he sees opportunities for implementation of logistics projects affected by the war, as well as regional reconstruction projects of the country, as well as activation. Trade relations and SME support.
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