BUSINESSINDIVIDUALS

Ukrainian economy day conference in Magdeburg

The Ukrainian economy day was held on Tuesday in the city of Magdeburg, the capital of the German federal state of Saxony-Anhalt.

The Ukrinform own German correspondent reports.

"German investors are increasingly interested in cooperation with Ukraine," the Delegate of German Industry and Commerce in Ukraine Alexander Markus.

According to Markus, more than 2,000 German firms are successfully operating in Ukraine. Representatives from some of those companies spoke at the event attended by nearly 40 businesspersons.

They discussed not only about opportunities, but also about barriers in the development of their investments such as the ongoing corruption, capital controls on transferring dividends and other issues. Meanwhile, the conference organizers focused attention on the opportunities arising from the association agreement with the EU which comes into effect on  January 1, 2016 and gradual lifting of customs duties and the fact that Ukraine promised financial support by the World Bank, the European Bank for Development and German KfW that observe the development prospects of the Ukraine economy.

"As far as the federal state of Saxony-Anhalt concerned, the bilateral trade turnover between Ukraine and the state has been dropping not only due to the current situation, but the trend had begun before the global financial crisis manifested itself. The peak figure was reached in 2008 - 180 million euros," said Ambassador of Ukraine to Germany   Andriy Melnyk. Today the figure totals 52 million euros, despite the fact that in the first eight months the turnover crashed by 31 percent compared to the same period of last year (according to German sources it fell 34 percent). "We expect it to reach the level of 80-90 million for this year," Melnyk noted.

In general, according to the diplomat, "the atmosphere at the conference was positive and constructive so was the German business mood."

This was the seventh such event, which is organized in various German cities during the autumn of this year. Previous conferences were held in Hamburg, Mainz, Frankfurt, Berlin, Hanover and Dusseldorf.


By Ukrinform