This year, the famous Swedish trademarks IKEA and H&M will enter Ukraine’s market, Vice-Prime-Minister for European and Euro-Atlantic Integration of Ukraine Ivanna Klympush-Tsintsadze said, Uryadovy Kurier reports.

“Ukraine is the attractive place for many Swedish companies, which want to expand its business. We welcome the fact that this year, the famous Swedish companies IKEA and H&M will enter Ukraine’s market”, she said.

In addition, she added that for the last year, the goods turnover between Ukraine and Sweden increased by 4.2% versus 2016 and was $510.9 mln.

IKEA was founded in 1943 in Sweden by Ingvar Kamprad. The company opened its first shopping mall in 1958. IKEA includes the production group Swedwood, which deals with production of wood furniture and component parts and has 35 plants in 9 countries.

It was previously reported that IKEA intends to enter Ukraine’s market. Chairman of the Management Board of Mandarin Plaza Alexander Chernitsky reported that IKEA can become the leaseholder of the country’s largest shopping mall Yuzhny with total area of 450 ths sq.m., the start of construction of which is planned for late 2017 in Golosievo District of Kyiv.

It was also reported that IKEA is interested in cooperation with Ukrainian suppliers of wood furniture and component parts to it.

Later, it became known that IKEA intends to open its first facility in Kyiv within 1-2 years. In February, mass media reported that IKEA opens a shopping mall in Ukraine until late 2018.

In late April, the Cabinet of Ministers informed about the plans to create the interdepartmental working group for furthering IKEA’s entry to the country’s market.

It should be reminded that H&M makes another attempt to enter Ukraine’s market. The Swedish retailer made the first one with Respublika Shopping Mall; however, the transaction was frozen during the approval of documents.

At the end of the last year, it is reported that H&M was interested in the Ukrainian market.