Representatives of the Finnish companies that work in Ukraine have expressed interest in expanding economic ties with Ukrainian companies. Talks held with the Ukrainian League of Industrialists and Entrepreneurs (ULIE) with the participation of the Ambassador of Finland to Ukraine Mr Juha Virtanen resulted in an agreement to arrange a business forum in Helsinki in the near future. With this aim in view, representatives of the Ukrainian League of Industrialists and Entrepreneurs submitted their proposals in September. These issues were on the agenda of a meeting between the ULIE, Finland’s Embassy and businesses from both countries.
The partners expressed hope that domestic companies working in the chemical sector, information technology, the processing industry are ready for the development of cooperation, as they in many ways complement each other.
At the same time, the Finnish side said it was concerned about the improper development of the business and investment climate in Ukraine, and the high level of corruption, administrative and other obstacles also cause concern.
Unofficial corrupt “taxes” significantly increase the cost of logistics and production, and, consequently, the price of the final product. All this certainly reduces its competitiveness. The fact that a businessman from Zaporizhia finds it more profitable to ship goods from the Lithuanian port of Klaipeda than from the Ukrainian port of Odesa was given as an example at the meeting.
“The business community of Ukraine is well aware of the risks our partners are facing. Therefore, it is actively cooperating with the authorities, urging them to address these issues as soon as possible. Among them are the removal of tax and customs barriers for producers, including importers of necessary equipment, as well as the introduction of personal responsibility of officials for bribes,” ULIE President Anatoliy Kinakh said.
Prior to the meeting, a ULIE delegation visited Helsinki. In that city, the Ukrainian industrialists met with the heads of the Confederation of Finnish Industries, Timo Laukkanen and Petri Vuorio. It was concluded after the visit that shipments of wheat flour, vegetable oil, confectionery and bakery foods to Finland hold prospects.
According to ULIE Vice President, the head of the Center for Export Support Denis Krasnikov, the Finnish food market whose volume of imports is estimated at about EUR 4.3 billion, looks very promising for Ukrainian producers.
“I would like to commend the work of our Embassy in Finland, which cooperates closely with domestic manufacturers. Such work of the diplomatic service is very helpful in the promotion of Ukrainian companies’ goods onto foreign markets,” ULIE Vice President Denis Krasnikov said. “In addition, entrepreneurs expect that Ukrainian authorities will liberalize limitations on the forex market, which put our producers in a disadvantageous situation when entering other countries’ markets.”
The parties agreed to formulate specific proposals and present them at the business forum in Finland. Later, the proposals are expected to be introduced at the practical level, given that the Finnish business has long been working in Ukraine, having partnered with the ULIE, and is ready to cooperate.
The ULIE announced it would continue arranging meetings between Ukrainian producers and potential foreign partners. In particular, the ULIE says new meetings with representatives of the business circles of the United States, Canada, Mexico, Germany, Italy, Spain, the Netherlands, and Iceland are in the pipeline.
