Ukrainian-Israeli economic cooperation only begins to open up the existing bilateral potential. Trade between the countries that kept at around US$1 billion for long slightly decreased in 2016. However, Ukraine has maintained a positive balance of foreign trade and has been able to attract potential investors and business partners from Israel. The latter see mainly IT, advanced technology, agriculture as promising areas for cooperation.
This issue was on the agenda of the international conference titled “On the Situation and Prospects of Ukrainian-Israeli Trade and Economic Relations,” which was arranged by the bilateral Business Council with the support of the embassies of both countries and the Ukrainian League of Industrialists and Entrepreneurs. The sides discussed algorithms to boost trade and investment-related cooperation, as well as risks, protection, insurance of business on the domestic markets.
President of the Ukrainian League of Industrialists and Entrepreneurs Anatoliy Kinakh noted that the level of direct investment from Israel is still quite low —up to US$ 50 million for the whole period, or 0.1% of the total volume of foreign investments. The leader of the business community is convinced that Ukraine, which is experiencing investment hunger, is attractive for investment. This is due to human, scientific and technical potential, proximity to European markets and high ROI of investment projects.
“Of course, we, on our part, need to ensure clear protection of the rights of owners and investors, the rule of law,” Kinakh said.
He also urged not to be limited to IT or agriculture, but develop cooperation in the reform of medicine, particularly rehabilitation of soldiers where Israel is a world leader.
