During 2008 to 2011, he was part of the team of the "Blue Ocean Strategy Institute" of Malaysia, which advised the Malaysian government on economic reforms.

[3] On February 27, 2014 Sheremeta became Minister of Economical Development and Trade of Ukraine in the Yatsenyuk Government.

[2] After it had already rumored (and denied by him then) Sheremeta confirmed his decision to resign as Minister on August 21, 2014.

[2] Sheremeta explained his resignation as being due to the appointment of Valery Pyatnitsky to lead the (newly created) Institution of Trade Representative in Ukraine without his consent; and added he could not work anymore with "yesterday's people".

[2] He then stayed on as an acting Minister[4] till September 2, when the Verkhovna Rada accepted Sheremeta resignation.