Experts of the European Bank for Reconstruction and Development, an old and reliable partner of “NIBULON”, officially declare that for the companies that shape policy on the grain market, there is a number of questions and problems now. It is of interest at this timefor Ukraine because according to the market position of “NIBULON” our country has approached the world’s leading positions in export of grains in recent years, significantly increasing its impact on world grain supplies. In this context, on the 28th of October, 2010, a round table with participation of the EBRD and the key grain market participants, including Ukrainian, among them – “NIBULON”(General Director Oleksiy Vadaturskyy and Deputy General Director Andriy Vadaturskyy) and Volodymyr Klymenko, president of Ukrainian Grain Association, and many other leading partners and participants in the grain market from around the world, was held in London. The subject of the meeting was the current situation and prospects of grain market in different countries, including the issues of Ukrainian export of agricultural production, the issue of openness in the grain market. Format of the event, held at the EBRD  headquarters, provided a very intense work in a bilateral mode. The President of the EBRD Thomas Mirow and the director of investment center of the organization Charles Rimershnayder started the roundtable discussion. The participants heard a presentation of the chief economist of the EBRD Eric Berglef on “Prospects for economic development in the region”, after the welcoming address. A roundtable discussion was held after the speech, chaired by the Director of agribusiness department Dzhylsa Mettetal. The next session was “Political dialogue of the EBRD – from the grain composition to the consumer”, involving Pieter Bride, Deputy Director of agribusiness department of the EBRD. The press conference with the participation of international media was held after that. During the meeting, bankers welcomed the significant progress of Ukraine in the development of its own agro-industrial complex. In particular, the investment program of “NIBULON” was marked. Dzhyls Mettetal said: “Today there are some companies that already invest in transportation infrastructure of production. For example, the Ukrainian company “NIBULON”. It now develops river transportation of grain on the Dnipro and the Southern Bug rivers. This is a very important component of investment. The second component of investments is investing money in the processing of agricultural land and storage of production. It includes upgrading of equipment for grain storage, development and increasing of elevator capacities etc. It is necessary to deliver good quality grain”. Nevertheless, the management of the EBRD is confident: Ukrainian companies are able to export more agricultural production than today, while Ukraine has a huge untapped potential for the production of grain (this is especially important during the growth of world population and growth of demand for food). The EBRD President appealed to the leadership of Ukraine with call to help companies to get VAT in timeand develop the infrastructure for transporting of agricultural products. In turn, the Bank promised to increase loans for the development of agrarian sector of Ukraine. This wish (within the system of key postulates delivered) was announced for several reasons, particularly because decisions making on investment of the agricultural sector is strongly influenced by the impossibility of forecasting of agricultural policy in the regions where the Bank exists. This in turn distorts the market and creates an adverse business environment. Thus a number of key requests was announced, provided that their fulfillment by governments of the countries would greatly strengthen the situation in the grain market. Especially management of the Bank stressed on the fulfillment of conditionsby the Government of Ukraine. 1) Private investors need confidence that the government will refrain from unregulated responses, to make decisions about the development of the grain sector. In particular, it will not introduce informal restrictions that violating international conditions and rules have negative consequences. “We talk about the necessity of a transparent policy, predictable policy as to the market. For example, “NIBULON” that is now actively investing into transportation infrastructure, can not know what will happen tomorrow with its courts or how authority will behave itself in the regulation of this sector. Most private operators face such problems”, – said Charles Rimershnayder. In response, Oleksiy Vadaturskyy said: “Often we can not tell our problems neither to the government, nor to non-governmental organizations. We are doing this not just for ourselves, because problems exist around the agricultural sector in Ukraine. Domestic farmers, investors, producers of agricultural products – all market participants are consolidatedthat quotas for export of corn and other crops should not be introduced in Ukraine, you can not enter export restrictions without establishing clear reasonable deadlines in order not to disrupt international contracts and thus not to aggravate the image of Ukraine. 2) Governments should form a strategy for short and medium-term development of their crops sectors and have to reduce their own impact on markets. 3) Increasing of the trust between the public and private sectors by means of improving of coordination and transparency. “We have to focus on the fact that in Ukraine, which is one of the largest suppliers of grain, cooperation between all branches of government and private operators has to be established. They have to cooperate more closely. We are interested in this and are ready to facilitate such cooperation” – stressed Dzhyls Mettetal. 4) Ensuring of property right, its guarantee, the development of legislation in the field. Great hope of the market participant relies on the EBRD, which is quite significant and justifiable structure in the world: “I am pleased that we are heard and understood. The EBRD is very solid and respected organization that is able to raise the issue of security of market participants from various interventions in conversational mode. Our company during 19 years of its history has faced with many obstacles, problems, but we have never suffered a defeat and we are always optimistic about the future of the company and the country on the whole – said Oleksiy Vadaturskyy. In general, during the meeting various attitudestowards the challenges that grain sector in Ukraine and other countries faces today, were analyzed, suggestions to improve the international practice were made. This event has become a good lesson of cooperation with the first class international financial structure for “NIBULON”. Therefore, the EBRD and “NIBULON”are sure: it’s high time to speak with one accord! Photo report (© EBRD)