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FOREIGN AND DOMESTIC BUSINESS UNITED TO IMPROVE UKRAINE’S INVESTMENT CLIMATE

19.04.2017

International Council of Business Associations and Chambers has been established in Ukraine. Solemn signing of the Memorandum of Understanding on creation of there was solemnly signed at the Ukrainian Chamber of Commerce and Industry on April 19, 2017. Chambre de Commerce et d’Industrie Franco-Ukrainienne, Chinese Commerce Association, German-Ukrainian Chamber of Industry and Commerce, International Turkish-Ukrainian Business Association, the Ukrainian Chamber of Commerce and Industry and U.S.-Ukraine Business Council decided to unite to improve the business self-governance conditions in Ukraine. British-Ukrainian Chamber of Commerce have expressed their intention to join the platform too.

      International chambers of commerce and foreign business associations will jointly work to protect business interests of both foreign and domestic investors in Ukraine, as well as to expand and make the business-government dialogue more active.

     The newly formed platform unites approximately 9,000 companies, of which 8,000 are members of the Ukrainian Chamber of Commerce and Industry which represent the national business, and approximately one thousand foreign investors active in Ukraine.

     “It’s no exaggeration: a historic event occurred today – business associations and bilateral chambers of 6 leading countries, which are among the top 10 investors in our country – China, France, Germany, Turkey, the U.S. and Ukraine itself – united. When business unites, its voice becomes stronger. The newly established Council is an effective platform for solving a number of problems which the Ukrainian business faces and which we in collaboration will be able to tackle much faster and more successfully. Our Council is open to other foreign bilateral and multilateral chambers and business associations who share our goals and principles. Let us work together to create a favorable business climate,” said Gennadiy Chyzhykov, President, the Ukrainian Chamber of Commerce and Industry.

  The Council will regularly meet to discuss the current economic situation, the investment framework, and submit proposals to the Government of Ukraine on the improvement of business self-governance conditions, the economic situation and business climate, and address systemic issues which hinder foreign and domestic investments in Ukraine.

“The establishment of such an association is as timely as never before. The Council will in every way support and develop the vectors with a real economic effect for business in Ukraine,”, said Morgan Williams, President, U.S.-Ukraine Business Council.

“The signing of the Memorandum at the Ukrainian Chamber of Commerce and Industry will strengthen the dialogue between Ukrainian and foreign business, and the creation of an International Council of Business Associations and Chambers will demonstrate its positive effect on Ukraine’s economy in the nearest future,” commented Ruslan Osypenko, Executive Director, Chinese Commerce Association.

“Turkey and Ukraine are now experiencing ‘a golden period’ in their economic, tourist and cultural relations. For the first time in history, business associations and chambers of commerce representing the leading countries united to jointly work on improving business climate and attracting investments,” emphasized Burak Pehlivan, Chairman, International Turkish-Ukrainian Business Association.

“Germany is one of the main investors in Ukraine. German business has a golden rule not to shift responsibility onto the government, because business should daily improve the situation for themselves. The International Council of Business Associations and Chambers is meant to work in this direction – we unite the voice of business,” noted Alexander Markus, Chairman of the Board, German-Ukrainian Chamber of Industry and Commerce.

“Our goal is to attract more investors to Ukraine,” said Bertrand Barrier, Member of the Board, Chambre de Commerce et d’Industrie Franco-Ukrainienne.

Top representatives of foreign diplomatic institutions serving in Ukraine took part in the event.

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