Speaking the legal language of your business
Jurimex senior lawyer Liubomyr Pytel spoke on “Legal Nature of Barter Transactions” at the annual international conference “Black Sea Grain-2010. Black Sea Region: Agrarian Strategies 2010+”, which took place on May 19-20, 2010 in Kyiv.
In his presentation, Mr. Pytel highlighted the main risks of barter agreements arising from trade and economic transactions in the agricultural sector, namely involving agricultural companies, traders, grains and oilseeds buyers. He also emphasized the importance of barter as a payment method widely used by Ukrainian and Western businesses in the time of financial meltdown.
The conference brought together the leaders of more than 200 trading and industrial companies of the agricultural sector. During numerous sessions and round tables the experts discussed the crucial issues of agribusiness development strategies in the Black Sea region, lending and investment opportunities for Ukrainian agricompanies, peculiarities of trade unions establishment to promote Ukrainian agricultural producers in the international market in response to the growing demand for agriproducts in the world.
When commenting on the event, Liubomyr Pytel noted: "The conference was of special significance and relevance to some positive trends that the agricultural sector has recently witnessed, i.e. expected increase of direct investment and agricultural production, sales and the GDP growth forecast. If planned properly, bartering, which implicates a direct exchange of goods or services, may facilitate the economic collaboration in agricultural business. Moreover, such a practice has proved its efficiency in the developed countries and is widely used nowadays”.
