Conférence / séminaire
On February 23, 2018 the Chamber of Commerce of the Grand Duchy of Luxembourg, in close cooperation with the Embassy of Ukraine in Brussels, will organize a country seminar on business and investment opportunities in Ukraine, in anticipation of the Trade Mission to Ukraine from April 22nd to 27th.
The hallmark of contemporary Ukraine, a country of 45 million people, has been sweeping reforms over the last four years aimed to bring the nation closer to the European Union.
September 1, 2017 marked the full entry into force of the EU-Ukraine Association Agreement. Today, the EU is the key trade partner of Ukraine, representing over 40% of Ukraine’s overall trade. This was greatly due to the core element of the Association Agreement: the Deep and Comprehensive Free Trade Area. For Ukraine, AA/DCFTA serves as a comprehensive blueprint of political, social, and economic reforms allowing the country to increase international trade in goods, first and foremost with the EU (by 26% over the first eleven months of 2017), to crucially improve its position in the World Bank’s Ease of Starting Business ranking (having moved from 70th place in 2015 to 52nd place in 2018), as well as to achieve the GDP real growth (+2.1% year-on-year in the third quarter of 2017).
Ukraine has managed to substantially restore microfinancial stability, improve the banking system, clean-up the judiciary and succeed in fighting corruption. The establishment of anti-corruption institutions, the reboot of the judicial system along with the introduction of the public procurement electronic system ProZorro, the abolishment of almost 800 administrative rules regulating SMEs activity and the launch of the VAT refund management electronic system represent Ukraine’s practical steps designed to ensure a favorable business environment and attract foreign investors.
A recently adopted law “On privatization of the state property”, in line with Ukraine’s commitments to the IMF, paves the way to a comprehensive, transparent, and streamlined privatization of more than 3,000 big, medium, and small enterprises that previously belonged to the state property.
Ukraine in figures: Ukraine has had a +2% growth of GDP in 2017 (forecast +3% in 2018) and in on 76th place in the World Bank’s Doing Business ranking (4 points up from 80th place in 2017, 20 points up from 96th place in 2015). Ukraine’s sectorial strengths include engineering, aerospace engineering (Ukraine produces the 4-stage engine for the European carrier VEGA) and aviation (famous giant cargo planes Ruslan & Mriya are produced in Ukraine). There are also over 1000 Ukrainian ICT service companies, 1000+ start-ups (e.g. Petcube, Grammarly, Depositphotos, Looksery), 100+ international R&D institutions based on long history of tech innovations in Ukraine.
The seminar participants will receive “first hand” information on Ukraine’s reform success story and answers as regards current business environment and investment opportunities in Ukraine.
In order to participate, you are kindly requested to duly complete the linked registration form no later than February 22nd.
Draft Programme:
- 09.00 – 09.30 Registration
- 09:30 – 09:40 Welcoming speech by the Chamber of Commerce of Luxembourg
- 09:40 – 09:50 Opening Words by the Ambassador of Ukraine
- 09:50 – 10:05 Keynote speech by First Deputy Minister for Economic Development and Trade of Ukraine Mr Maksym Nefyodov
- 10:05 – 10:20 Keynote speech by Deputy Finance Minister for European Integration Mr Yuriy Butsa
- 10.20 – 10.25 Presentation of the Ukraine-Luxembourg Business Club
- 10.25 – 11.00 Testimonial Speeches of Luxembourg-based companies that are already active in Ukraine
- 11.00 – 11.10 Q&A
- 11.10 – 11.20 Closing Remarks
- 11.20 – 12.00 Networking Reception
For further information about this upcoming event, feel free to contact
Steven Koener (tel: 42 39 39 - 379; steven.koener(at)cc.lu) or via CIS(at)cc.lu.