Ukraine and Finland deepen cooperation: 7 agreements worth around EUR 300 million signed

Deepening cooperation between the Finnish private sector and Ukrainian business was the key topic of the Ukrainian-Finnish Business Forum. The event took place in Kyiv on 22 October, chaired by President of Ukraine Volodymyr Zelenskyy and attended by Prime Minister of Ukraine Sergii Koretskyi, Prime Minister of Finland Petteri Orpo, Minister of Economy and Environment of Ukraine Oleksandr Kravchenko, and 25 Ukrainian and Finnish companies.

During the forum, the parties discussed opportunities to expand business ties, implement joint investment projects, and engage Finnish business in the recovery and development of Ukraine's economy.

"Finland has consistently supported Ukraine, providing more than EUR 4.6 billion in assistance since 2022. More than 200 Finnish companies now operate in Ukraine, and the volume of direct investment stands at USD 111 million. Today, this cooperation has received a new impetus. During the forum, 7 cooperation agreements between Ukrainian and Finnish businesses in critically important sectors were signed, with a total value of around EUR 300 million," said Oleksandr Kravchenko.

The agreements include investment in the construction of industrial plants and the production of building structures, the transfer of locomotives, and cooperation in satellite communications and unmanned systems.

The Federation of Employers of Ukraine and the Confederation of Finnish Industries also agreed to establish a Ukrainian-Finnish Industrial Council.

A separate focus was on tools to reduce war risks for investors, which will help create additional opportunities for financing investment projects in Ukraine. Oleksandr Kravchenko invited Finland to join the First Loss Fund and the Ukraine Recovery and Reconstruction Guarantee Facility (URGF) of the European Bank for Reconstruction and Development (EBRD).

"It is important to turn Finnish business's interest into concrete investment projects and to create the conditions for that. This will allow Finnish companies to invest and carry out joint projects in Ukraine now, without waiting for the war to end," the Minister emphasized.