War risk insurance, UK participation in the establishment of a trust fund to launch an international commercial war risk insurance market, participation of the British International Investment Agency in projects in Ukraine, attraction of British investors to Ukraine, bilateral trade, the plan for the recovery of Ukraine - these and other issues were discussed by the First Deputy Prime Minister of Ukraine, Minister of Economy of Ukraine Yuliia Svyrydenko with the Ambassador Extraordinary and Plenipotentiary of the United Kingdom of Great Britain and Northern Ireland to Ukraine Martin Harris on October 4.
The First Deputy Prime Minister spoke about the tools the Government was using to support business. In particular, it is a program of affordable loans "5-7-9", grant programs for business startup or development, including with a focus on recycling to facilitate logistics. In this context, the British side aims to continue supporting trade liberalization with Ukraine, increasing trade turnover and creating favorable conditions for Ukrainian exporters.
Yuliia Svyrydenko noted that in addition to agricultural products, which are the basis of Ukrainian exports, Ukraine is focusing on the military-tech industry, green energy, logistics, IT, etc.
In addition, to facilitate the work of foreign businesses in Ukraine, it is important to develop a market for war risk insurance. The United Kingdom is working on an insurance tool for its businesses interested in investing in Ukraine, and is also interested in helping to launch an international war risk reinsurance pool.
"With the support of the G7, G19, and the European Commission, we are working on war risk insurance instruments for international agencies. In particular, we cooperate with MIGA, DFC, EBRD, Export Credit Agencies of a number of countries, including the UK, and have already had several successful cases of investment risk insurance worth millions of dollars," said Yuliia Svyrydenko.
The parties also addressed issues related to Ukraine's European integration commitments, priority reforms, including privatization, and the development of key industries. Ambassador Martin Harris noted that the UK was ready to provide the necessary advice and support to Ukraine in key issues.