The agriculture sector, in particular processing, energy sector, energy efficiency, increase of energy production, introduction of clean energy, innovation and information technology development are the most promising areas for cooperation between Ukrainian and Danish businesses. This was stated by Prime Minister of Ukraine Volodymyr Groysman during a meeting with the leadership of the top Danish companies.
The round table was held as a part of the Prime Minister’s visit to Denmark. CEOs of companies specializing in food products, in formation of retail business units, in logistics, in heavy engineering were the participants of the meeting.
"We have a great opportunity to increase the volume of trade and investments between Ukraine and Denmark. We hope that this meeting will attract investments in Ukraine from Denmark", Thomas Bustrup, Deputy Director General of Confederation of Danish Industry said.
"I want to commend that the Government of Ukraine has taken meaningful steps in reforming the state. Your effectiveness is impressive. Your results gladdened us because we support Ukraine. And when we see endeavor’s towards development, our support increases", stressed Anders Fogh Rasmussen, CEO of political consultancy Rasmussen Global, former Prime Minister of Denmark and former Secretary General of NATO.
"We have outlined the strategic direction and have embarked on creating a favorable business environment. We have questions, but they will be resolved. The introduction of economic growth is a priority for us. And we are interested in further investing, especially in areas that possess potential and can become points of contact and growth", the Prime Minister added.
He stressed that the reform agenda offered by the Government is ambitious. "Today we have an effective legislation that gives new opportunities for investment. We take it as a priority to ensure success of investments", Volodymyr Groysman emphasized.
Ukraine, according to the Prime Minister, is on the path of fundamental institutional developments. Reforms are being implemented in all key areas. Ukraine is gradually becoming competitive. The system of state management is undergoing transformations. Such transformations are aimed to change the economy as well as to switch from the economic model based on raw materials to that based on innovative products.
There is a burning need for changes in energy sector, in the formation of energy independence as well as in projects related to energy efficiency and use of renewable energy sources. The meeting participants noted that the share of "green" energy in Denmark's energy consumption balance is at least 32%. And Ukraine can not only apply the best practices of Denmark in this sphere, but also attract investments for different complicated green projects.
The agricultural sector is highly promising. The Prime Minister emphasized, Ukraine has long proven its status as an important player in the agrarian market. In the overall, the agrarian sector makes up 18% of Ukraine's GDP and provides over 42% of all state exports. At the same time, Denmark is one of the global leaders in the supply of agricultural products and the use of advanced innovative technologies in agroindustry. A combination of our capabilities and Danish experience can provide a synergistic effect.
Entrepreneurs cited statistics, according to which last year the trade turnover in the agricultural sector between Ukraine and Denmark had amounted to almost USD 90 million. This is the fifth part of the total turnover between the states.
Businessmen accentuated that the desire to invest in Ukraine is great. A key prerequisite is the continuation of the reform path. In turn, the Head of Government assured: the Government is always open to dialogue and joint development. Moreover, the potentially interesting for Danish investors are "the points of our industrial growth", the Head of Government added.
As of the end of 2017, the volume of investment in the Ukrainian economy amounted to USD 149.7 million. Apart from agro and energy sectors, our capabilities in counseling, pharmaceuticals and commerce are of interest.
Ukrainian-Danish economic cooperation is gaining momentum and is growing at a rapid pace. One of the reasons for this increase is effect of the EU-Ukraine Association Agreement and the Free Trade Area. During the first quarter of 2018, turnover in goods and services between Ukraine and Denmark amounted to USD 136.9 million. More than 150 Danish companies are already operating in Ukraine and a major number of them are located in Western Ukraine.