On July 9, the Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko took part in a meeting of the Presidium of the Chamber of Commerce and Industry of Ukraine in the format of a business breakfast. The event was attended by the President of the Chamber of Commerce and Industry Hennadii Chyzhykov, presidents of regional chambers, other members of the Presidium of the CCIU and representatives of national businesses.

During the meeting, Minister Ihor Petrashko briefed about the current activities of the Ministry, measures to support producers and exporters against the background of the COVID-19 epidemic, outlined areas of cooperation in the format "Ministry of Economic Development-CCIU-Business" and answered questions from Ukrainian business representatives.

"It is important for the Ministry of Economic Development to have a constant and constructive dialogue with the Chamber of Commerce and Industry. Among the critical common tasks now is to support our manufacturers by introducing localization in public procurement, improving loan programs, expanding export opportunities and creating favorable conditions for new investors," said Ihor Petrashko.

The Minister added that ensuring access to cheap financing for small and medium-sized businesses remains  main priority for the Government. Thus, under the state program "5-7-9" loans worth UAH 1.1 billion have already been issued. In addition, the Verkhovna Rada is currently considering a bill on portfolio guarantees for business loans, which would also expand the Government's capacity to create additional instruments for new lending.

Special emphasis at the meeting was placed on the issue of localization as an important tool to support national producers.

"Localization is a priority of the Government and the Ministry of Economic Development, Trade and Agriculture, which we are implementing in several directions. This is due to the legislation proposed by the Economic Committee and the resolution, which is currently being discussed with relevant organizations and international partners. The resolution will envisage localization as a non-price criterion in the public procurement system and will provide certain preferences to producers with localization," the Minister said.

He stressed that this localization project does not violate any international agreements and directives.

The Minister also told about the importance of bills on "investment nannies" and "industrial parks", developed in a bid to enhance the investment attractiveness of Ukraine. In addition, the participants of the meeting tackled a matter of restarting UkraineInvest and resuming the work of the Export Credit Agency.

During the meeting, the attendees had the opportunity to voice current issues and gain support in future discussions in order to find optimal solutions.