A recent declaration from the Ukrainian Ministry of Economy has disclosed the mutual interest of Ukraine and Canada in working together on joint projects to strengthen entrepreneurship. In a discussion with Canadian officials, Economy Minister Yuliia Svyrydenko highlighted the significance of the upcoming Ukraine Recovery Conference 2024, an event focused on the nation’s prompt recovery and long-term rebuilding efforts, scheduled to be held in Berlin on June 11-12, 2024.
Minister Svyrydenko extended a gracious invitation to Canadian businesses to participate in the Ukraine Recovery Conference 2024. The Ukrainian government is eager to form partnerships with Canadian enterprises in various sectors including energy, green metallurgy, logistics and transport, IT and digitalization, and agricultural production. Ukrainian companies from these industries are set to participate in the conference, offering a prime opportunity to establish new collaborations.
Stressing the government’s key focus areas, the Minister outlined the need for advancing production, encouraging non-resource exports, and attracting investments in the real sector. The meeting also saw the participation of Ukrainian Deputy Economy Minister Taras Kachka, Deputy Economy Minister Tetiana Berezhna, and representatives from the Canadian Embassy. Discussions revolved around grant programmes aimed at supporting entrepreneurship in Ukraine and potential joint ventures with Canadian counterparts.
Ukraine is enthusiastic about engaging in collaborative ventures with Canada, particularly in initiatives aimed at empowering women entrepreneurs. Minister Berezhna highlighted the ‘Create’ grant programme, recently launched with funding from the Western NIS Enterprise Fund, which supports small and medium-sized processing businesses. Each winning participant receives a grant of up to USD 15,000. Additionally, the Ukrainian government is keen on partnering with international entities to finance grant programmes for veterans, creating new opportunities in the job market and fostering veteran-led businesses.
It is worth noting that the Verkhovna Rada of Ukraine ratified the updated Canada-Ukraine Free Trade Agreement (CUFTA). According to First Deputy Prime Minister and Economy Minister, Yuliia Svyrydenko, this ratification will significantly enhance economic and trade relations between the two countries and facilitate increased involvement of Canadian businesses in Ukraine’s recovery efforts.
This collaborative approach between Ukraine and Canada is indicative of the growing international partnerships in fostering economic growth and supporting entrepreneurship. With a focus on strategic sectors and tailored grant programmes, the stage is set for a positive impact on both countries’ economic landscape.