On December 14, the 11th meeting of the Ukrainian-German High-Level Group on Economic Cooperation chaired by Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Olha Stefanishyna and Parliamentary State Secretary to the Federal Minister for Economic Affairs and Energy of Germany Marco Wanderwitz took place.
During the video conference, the parties discussed Ukraine's trade relations with Germany, implementation of reforms, business climate, financial and investment cooperation, energy issues, etc.
"Germany is a strategic and one of Ukraine's largest trading partners. We see a very high dynamics of sectoral cooperation. I am convinced that the deepening of bilateral relations is one of the key elements of Ukraine's European integration," Olha Stefanishyna stressed.
The Deputy Prime Minister said that the Government of Ukraine had embarked on the development of a national economic strategy until 2030, which provides for a wide range of tools to support national business and the economy. Ukraine also plans to update its approach to international trade and cooperation with trading partners.
Representatives of the German side stressed that Ukraine is Germany's second most important partner in the region of Eastern Europe and Central Asia. At the same time, they emphasized the importance of legal safety for the German market and German firms.
"Parliament has recently passed a package of bills that create additional guarantees for investment security in Ukraine. Meanwhile, the renewal of the trade section of the Association Agreement will reduce trade barriers and open more opportunities for Ukrainian, German and European companies to work in the markets of Ukraine and the European Union," said Olha Stefanishyna.
According to the Trade Representative of Ukraine Taras Kachka, the Association Agreement creates favorable conditions for the transfer of production facilities to Ukraine from other countries. In particular, under the Agreement, Ukraine has made important progress in customs matters.
He informed about the work of Ukraine on the test introduction of authorized economic operators, as well as the process of Ukraine's accession to the system of joint transit with the EU. This will speed up border crossing and product delivery. It will also be important for the development of trade to conclude the ACAA Agreement (an industrial visa regime), which will facilitate trade in industrial products.
"In economic relations between Ukraine and Germany, mechanical engineering and technology transfer are of great significance and we want to have as few barriers as possible in trade in industrial products," summed up Taras Kachka.