Business news from Ukraine

UK and Ukraine planning to conclude digital economy agreement

Ukraine and the UK are planning to conclude an agreement on digital trade, which will remove barriers to trade and provide support to Ukrainian businesses, the UK has previously concluded such an agreement only with Singapore, the Ukrainian Ministry of Economy and the Ministry of Digital Transformation report.
The Ministry of Economy in a press release on Wednesday clarified that the day before, First Deputy Prime Minister, Economy Minister Yulia Svyrydenko and Deputy Prime Minister, Minister of Digital Transformation Mykhailo Fedorov discussed this document – Digital Economy Agreement – with Secretary of State for International Trade of Great Britain Anne-Marie Trevelyan.
“The Digital Economy Agreement is a new type of trade agreement that will open up new opportunities for Ukrainian and British businesses through the use of modern technologies that will reduce bureaucratic procedures and promote the use of electronic payments, digital signatures and electronic contracts,” Svyrydenko said.
According to the release of the Ministry of Economy, the agreements involve the creation of digital infrastructure to level restrictions on cross-border data transfer, the opening of a single window for traders and government agencies, the growth of trade in services, proper protection of personal data and improved access to public resources.
The Ministry of Digital Transformation added that among the main areas of cooperation were financial technologies and payment systems, open digital markets and technical cooperation.
The Ministry of Economy clarified that the agreement on digital trade would supplement the agreement on political cooperation, free trade and strategic partnership between Ukraine and the UK, concluded on October 8, 2020.

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Representatives of the American Chamber of Commerce (ACC) and adviser to the president of Ukraine Mykhailo Fedorov have discussed the problematic issues of work in Ukraine and the prospects of development of digital economy, according to the official website of the president of Ukraine.
American business representatives focused, in particular, on searches at IT companies, IT industry taxation and access to infrastructure to install the telecommunications equipment of providers, as well as the key interests in the development of mobile and fixed broadband Internet, electronic court and the adoption of priority bills necessary for the IT industry.
The report says that all the above mentioned proposals will be considered by the Office of the President of Ukraine in order to attract innovative American business to the development of the digital sphere in Ukraine.
“We are very interested in attracting the capabilities of members of the American Chamber of Commerce to the development of joint projects in the field of broadband Internet, electronic identification, and so on,” Fedorov said.
ACC representatives expressed interest in the development of digital economy in Ukraine.
Fedorov presented a digital action plan during the meeting.
“The development of digital economy should be priority number one for Ukraine. We must implement the digital transformation of the existing sectors of the economy and create favorable conditions for the emergence of new ones. Otherwise, we risk lagging behind the leading economies of the world forever. Together with the core business and the public, we have defined clear objectives and goals until 2024,” he said.

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Mykhailo Fedorov, the adviser to the president of Ukraine, at a meeting with the representatives of Japanese business presented an action plan in the development of digital economy and got acquainted with the proposals of the foreign guests.
“Electronic services, the improvement of state registers, the e-residency project should make doing business in Ukraine easy and transparent. We are very interested in attracting investment and advanced innovations of Japan to develop joint projects in the field of the Internet of Things, Industry 4.0, Smart Cities, electronic identification, the development of R&D centers, etc.,” he said.
He noted that the development of digital economy is one of the priorities of President Volodymyr Zelensky.
“Today we are uncompetitive in the world, ineffective – only digitalization of economic sectors can help us make the leap and achieve real economic growth. Together with the core business and the public, we defined clear objectives and goals until 2024,” the adviser said.
The representatives of Japanese business focused on the problematic issues of doing business in Ukraine, such as the complexity of interaction with the tax and migration services, hiring workers, etc., as well as the key interests of Japanese business [in particular, the introduction of R&D centers and various innovation projects].

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The European Commission (EC) is preparing an international project of assistance to Ukraine in the amount of EUR 25 million for the development of the digital economy and e-government. The issues were discussed at a meeting of representatives of the EC with advisor to the President of Ukraine Mykhailo Fedorov in Kyiv on Wednesday.
“During the meeting, representatives of the European Commission reported on the preparation of an international project to assist Ukraine in the amount of EUR 25 million for the development of the digital economy and e-government, and also provided their recommendations for the “State in the Smartphone” concept. Key proposals related to the development of citizen identification, the introduction of an effective structure for managing… the implementation of ambitious tasks,” the press service of Ukrainian President Volodymyr Zelensky said.
In turn, Fedorov told about plans and prospects: “For us, we have very clear plans for the year and key performance indicators until 2024. The “State in the Smartphone” for me is when a Ukrainian can solve any life or business situation online in one click and preferably from a smartphone, when our citizen will forever forget what an official looks like and where he is, when Ukrainians will be able to actively participate in the development of the state through a smartphone.”
First Deputy Head of the State e-Government Agency Oleksiy Vyskub told EC representatives about the eBaby project, through which parents of newborns will be able to get 10 online services.
According to the press service, representative of the Support Group for Ukraine (SGUA) in the European Commission Frank Paul, representative of the Delegation of the European Union in Ukraine Martin Klaucke and Coordinator of the Public Administration Reform Sector of the EU Delegation in Ukraine Serhiy Ladny took part in the meeting at the president’s office.

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