Ukrainian entrepreneurs and industrialists have held a series of meetings in Washington, D.C., with representatives of U.S. companies and business associations, including the U.S.-Ukraine Business Council. The sides discussed the need to strengthen the Ukrainian economy as a prerequisite for Ukraine’s national security, improve the investment climate, and establish closer ties between Ukrainian and U.S. entrepreneurs.
Despite rather negative indicators of domestic production and a decline in GDP in the past year by almost 11%, Ukrainian businesses actively get involved in the process of reforming economic, fiscal, monetary policy, sharing their own success stories and proposing joint work with the government’s officials.
The Ukrainian business community sees the launch of full-fledged free trade with the European Union as of January 1, 2016, as a huge incentive for the Ukrainian producer, which requires modernization, rapid adaptation to technical regulations and quality standards used in Europe. Certainly, there are still many issues to be addressed, in particular, preparation by Ukraine of its own homework: the fight against corruption, the creation of conditions for the rule of law and equality before the law, energy security, and innovation policy as well.
“We are sure that European integration efforts will significantly invigorate our cooperation with North America,” President of the Ukrainian League of Industrialists and Entrepreneurs (ULIE) Anatoliy Kinakh said at the meeting.
The U.S. side has completely supported this view, stressing that the primary task of the Ukrainian government and civil society should be the modernization of the economy. “Economic self-sufficiency is the main “weapon” to protect national interests,” the U.S. partners said.
In this context, they positively evaluated an anti-crisis plan of joint actions of the Ukrainian government and businesses, which was presented to them. This only comprehensive plan available in Ukraine now to overcome the negative factors in the economy, which was developed by hundreds of Ukrainian business associations, entrepreneurs, academics and professional analysts, was previously presented to top officials in Ukraine and is now pending joint implementation with possible amendments or modification.
“The ULIE and the Anti-Crisis Council of NGOs are willing to step up interaction with U.S. businesses, strengthen cooperation in investment, joint work on bilateral markets and on the markets of third countries,” the ULIE president concluded.
