Doing Business In Ukraine

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HM Ambassador to Ukraine Foreword

British Embassy Kyiv2

Simon Smith
Simon Smith
HM Ambassador to Ukraine

I am delighted to welcome you to this Doing Business in Ukraine Guide.

Ukraine has significant economic potential as a result of its well educated labour force, its large domestic market (46 million population) and its abundance of natural resources. These include some of Europe's best agricultural land and significant energy resources, among which are potentially 'game changing' unconventional gas reserves. Ideally located just 3 hours flying time from the UK and bordering 4 EU member states, Ukraine is strategically placed at the crossroads of European, Russian and Asian markets.

The global economic crisis of 2008 struck particularly severely here. It accentuated the need to make purposeful progress on reform and modernisation in the economy, in order to boost long-term sustainable growth, attract international investment and create a more open and transparent business environment. As these processes continue, there is also the prospect of much closer interaction between Ukraine and the Single Market of the European Union. Ukraine and the EU are in the final stages of concluding an Association Agreement, including an unprecedented Deep and Comprehensive Free Trade Agreement. Progress is already underway on an ambitious "Association Agenda", aimed at reforming many of Ukraine's business-relevant institutions - including important aspects of the judicial system - and aligning Ukrainian standards and practices with those of the EU. Britain is a long-standing supporter of Ukraine's European orientation and our Embassy in Kyiv will continue to support and advocate the introduction of the key reforms that will enable the agreements to be brought into force and implemented successfully. We will also do our best to keep British business informed of the new opportunities that emerge in the Ukrainian market against the background of these changes.

Helping British companies develop business opportunities in Ukraine and supporting those companies which are already established in the market, will remain a top priority for me and for the British Embassy in Kyiv. We will continue to devote top quality effort to introducing new exporters to the market and to advocacy and lobbying with Ukrainian institutions for improvements in the country's business and investment environment.

My team and I at the Embassy are always ready to offer further help to British businesses active or interested in the Ukrainian market, through the range of UKTI services we provide. I hope you will find this guide useful and that it helps you to understand how Ukraine can be an opportunity for your business.

Simon Smith
HM Ambassador to Ukraine
www.gov.uk/world/ukraine

 

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