Ukraine and Austria have agreed to hold the Ukrainian-Austrian Business Forum on May 23 in Lviv, co-organised by the Austrian Economic Chambers and the Ukrainian Chamber of Commerce and Industry. The main thematic sections to be discussed at the event are Ukraine’s recovery, cooperation in energy, industry, and renewable green energy. This was agreed upon during an online meeting between Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, and Martin Kocher, Federal Minister for Labour and Economy of the Republic of Austria.

“We agreed to simultaneously prepare the Ukrainian-Austrian Business Forum and a meeting of the joint working group within the framework of the Ukrainian-Austrian Joint Commission on Trade and Economic Relations. Both events are scheduled to take place in late May in Lviv. The Austrian side confirmed the great interest of Austrian business in participating in the projects of restoring our country and cooperating with Ukrainian business. At the level of government officials, we will discuss the general conditions for foreign business in Ukraine. And within the framework of the forum, we will have a broader discussion on attracting Austrian investments to Ukraine, localisation and transfer of production to our territory,” explained Yuliia Svyrydenko.

According to the First Deputy Prime Minister, the Government has identified five priorities for financing rapid reconstruction: energy, housing construction, humanitarian demining, critical and social infrastructure, and support for the private sector.

“The Government’s priority for the immediate future is urgent reconstruction. We look forward to participating in joint projects, as well as to proposals for the reconstruction of certain territorial units and specific formats of Austrian participation in post-war reconstruction projects in Ukraine,” said Yuliia Svyrydenko.

The parties also discussed the possibility of providing export guarantees by the Austrian Control Bank for investments in Ukraine. Indeed, war risk insurance is one of the main obstacles to attracting foreign investment to Ukraine during wartime.

In turn, Martin Kocher, Federal Minister for Labour and Economy of the Republic of Austria, confirmed the interest of the Austrian Government and business in economic cooperation with Ukraine and its possible expansion.

For reference

Austria maintains a position of neutrality in the supply of military equipment to Ukraine. The main assistance provided to Ukraine is humanitarian.

Since the start of the war, Ukraine has received helmets, protective vests, and fuel from Austria. Our country also received EUR 10 million from Austria as part of the World Bank’s Second Economic Recovery Development Policy Loan for Ukraine. The funds were provided from the World Bank’s Multi-Donor Trust Fund.

Austria allocated EUR 3.8 million for the International Summit on Food Security.