The Verkhovna Rada has ratified an agreement between the Governments of Ukraine and the Federal Republic of Germany on the creation of the German-Ukrainian Chamber of Commerce and Industry.

The purpose of the Chamber is to promote trade and economic relations between enterprises and organizations of Ukraine and the Federal Republic of Germany, as well as the protection of business interests of the both countries and promotion of economic exchange in both directions.

During the presentation of the bill on the ratification of the Agreement at the meeting of Parliament, Deputy Minister of Economic Development and Trade of Ukraine, Trade Representative of Ukraine Nataliia Mykolska has stressed that Germany is a strategic trade partner of our country, and a high level of economic relations between the two countries shows the importance of the Agreement.

"In 2015 the volume of bilateral trade between Ukraine and Germany totalled around US $ 6.2 billion. Germany is our third largest trading partner for exports and first trading partner among the EU States. Moreover, Germany is among the top three countries to invest in our country, and the number of enterprises with German investment is about 4 thousand", said the representative of the Government.

The Agreement on establishing the German-Ukrainian Chamber of Commerce and Industry was concluded in Berlin on 23 October 2015.