Germany, Ukraine willing to strengthen business relations

Germany, Ukraine willing to strengthen business relations | INFBusiness.com

Germany and Ukraine  reiterated their willingness to further strengthen their economic relations in a joint declaration by German Chancellor Olaf Scholz and Ukrainian President Volodymyr Zelenskyy in Berlin on Sunday.

On his first visit to Germany after the start of the Russian aggression, Zelenskyy met with Scholz (SPD/S&D) and President Frank-Walter Steinmeier in Berlin before travelling to Aachen, where he was awarded the Charlemagne Prize, a prize given to people advancing European integration in an outstanding manner.

“Ukraine and Germany declare their willingness to further strengthen their bilateral economic relations across all fields,” the joint declaration stated.

“German companies remain active in Ukraine, some of them planning to increase their production in Ukraine. German businesses stand ready to support reconstruction efforts with know-how and technology,” the statement continues.

In early April, German Economy Minister Robert Habeck (Greens) visited the country, alongside a delegation of business representatives, led by Siegfried Russwurm, head of Germany’s Industry Association BDI.

“Ukraine is once again becoming an interesting location for German investments,” Russwurm said after the visit.

Alongside all German companies previously active in Ukraine, none of which have left the country despite a 30% drop in GDP in 2022, this would also include some newcomers, Russwurm said. Among them are companies in the fields of renewable energy, agricultural technology, and construction materials, he said.

“Crucial to this is the unconditional will among the population to rebuild the country and the determination of a new generation of politicians to tackle necessary reforms,” Russwurm added.

During his visit, Habeck also announced the willingness to reorganise the German-Ukrainian Energy partnership. A shift towards renewable energy could help the country become an exporter of energy to other European countries, Habeck said.

“Germany actively supports the modernisation as well as reconstruction of the Ukrainian energy sector, including energy infrastructure through the bilateral energy partnership,” Sunday’s joint declaration reads.

As Zelenskyy visited Berlin, Germany also unveiled a new military package for Kyiv worth €2.7 billion, its biggest yet for Ukraine.

While in the statement, Germany voiced support for Ukraine’s bid for EU membership, however without making any commitments on its pace, it remained vague on Kyiv’s request for NATO membership.

“Germany supports the NATO-Ukraine Commission as a venue to further increase and expand the partnership between NATO and Ukraine on its path consistent with the Bucharest Declaration, thus advancing our common interest in Euro-Atlantic peace, stability and security,” it reads, noting that this will be further discussed at the NATO summit in Vilnius in July 2023.

(Jonathan Packroff | EURACTIV.de)

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