27.10.2015 [News]

Agreement on German Chamber of Commerce in Kiev signed

In the presence of German Chancellor Dr. Angela Merkel and the Ukrainian Prime Minister, Arsenij Jazenjuk, an intergovernmental agreement on the establishment of a German Chamber of Commerce in Kiev was signed on 23 October 2015.

State of Secretary Matthias Machnig from the German Federal Ministry for Economic Affairs and Energy said: 'Germany already supports the Ukraine on their path of political and economic stability. We want to expand this commitment through the deepening of our bilateral economic relations. The establishment of a German-Ukrainian Chamber of Industry and Commerce in Kiev can contribute to this. Setting it up is a signal that we want to intensify trade and investment between our two economies.'

The negotiations began in 2013. The future German-Ukrainian Foreign Chamber of Commerce (AHK Ukraine) will take over the tasks of the previous 'Delegation of the German Economy in Kiev'. It is an integral part of the global network of the German Foreign Chambers of Commerce currently covering 130 locations in 90 countries. The Chamber will focus on the interests and needs of Ukrainian companies and support them in the use of the 'Deep and Comprehensive Free Trade Area' (DCFTA)  between the EU Member States and Ukraine coming into force on 1 January 2016.  AHK Ukraine is supported by registered member companies from Germany and Ukraine with a financial contribution by the German Federal Ministry for Economic Affairs and Energy.

Germany is the third most important trading partner for Ukraine and supports the Ukrainian reform process. An important economic growth impulse for Ukraine is expected with the provisional application of the free-trade part of the Association Agreement between Ukraine and the EU, which comes into force on 1 January 2016.

Source: German Federal Ministry for Economic Affairs and Energy (in German)