Thursday, May 23, 2024
 
 

U.S.-Ukraine Partnership Forum focuses on engaging the private sector in Ukraine’s Recovery

Event held in a tense atmosphere just days before critical Congressional vote on aid to Ukraine
Twitter/PM Ukraine Shmyhal
Ukraine's Prime Minister Denys Shmyhal addresses Partnership Forum in Washington

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On April 17, in partnership with the U.S. Department of State, the U.S. Department of Commerce, and USAID, the U.S. Chamber of Commerce hosted the second U.S.-Ukraine Partnership Forum. The Forum convened top business executives, government officials, and thought leaders to explore avenues to help Ukraine recover and rebuild as the country stabilizes its economy and lays the foundation for revitalization and modernization.

The Forum featured the Prime Minister of Ukraine Denys Shmyhal, the Deputy Prime Minister and Minister of Restoration of Ukraine Oleksandr Kubrakov, U.S. Secretary of Commerce Gina Raimondo, U.S. Special Representative for Ukraine’s Economic Recovery Penny Pritzker, and Chamber President and CEO Suzanne Clark, among other government and business leaders.

The 2024 Ukraine Partnership Forum builds on the Chamber’s previous work supporting the engagement of the private sector in Ukraine, including launching the Ukraine Business Initiative, a platform for companies to engage with U.S., Ukrainian, and European policymakers to help Ukraine rebuild. The Chamber’s team also met with Ukrainian officials in Kyiv last December, participated in the Ukrainian Recovery Conference in London in 2023, and will participate in this year’s Recovery Conference in Berlin.

Speaking at the Forum, Chamber President and CEO Suzanne Clark said, “After launching the Ukraine Business Initiative at the first U.S.-Ukraine Partnership Forum last year, the Chamber has advocated for reforms key to building a better business environment in Ukraine, and remains committed to providing our members the opportunity to offer their expertise as Ukraine lays the foundation for a peaceful, prosperous future.  The Chamber also has urged Congress to pass an aid package allowing Ukraine to defend against Russian aggression and stabilize its economy.  We always knew this would be an enormous undertaking—but every day is critical, because victory for Ukraine represents a victory for democracy and democratic values and is in our national and economic security interest.”

Also speaking at the conference, Ukrainian Prime Minister Shmyhal said: “We have lost a lot, but we can also regain much if our reconstruction is accompanied by modernization and renewal.” He added “The reconstruction of Ukraine will be the most extensive international project since World War Two. And for this we are creating all the necessary conditions: we are implementing reforms that create a favorable investment climate. This includes regulation, digitization, bureaucratization, and public-private partnership.”

The U.S. Department of State also issued a press release summarizing the event on April 18 which serves as a concise snapshot of the second annual Forum:

“The Department of State, the United States Agency for International Development, and the Department of Commerce, in partnership with the U.S. Chamber of Commerce and the Government of Ukraine, hosted the second U.S.-Ukraine Partnership Forum on April 17 at the Chamber headquarters in Washington, D.C.

During her keynote address, Special Representative for Ukraine’s Economic Recovery Penny Pritzker highlighted the importance of solidifying the foundation of Ukraine’s economic future and outlined steps taken by the United States in partnership with American companies to support Ukraine’s economic resilience through key sectors, such as infrastructure, energy, and manufacturing.

The Forum convened leaders in business, government, and policy to explore avenues to help Ukraine recover from Russia’s ongoing illegal war and rebuild as the country stabilizes its economy and lays the foundation for revitalization and modernization.

Under Secretary for Economic Growth, Energy, and the Environment Jose W. Fernandez moderated a panel on removing barriers to investment that focused on the reforms necessary to advance Ukraine’s Euro-Atlantic integration and encourage private investment. Coordinator for U.S. Assistance to Europe, Eurasia, and Central Asia Maria Longi participated in a panel on sustainable economic development, which outlined Ukraine’s priorities for its economic recovery and development, and how donors and the private sector can support.

The United States has provided $22.9 billion in budget support to the Government of Ukraine through World Bank mechanisms. The United States has provided an additional $1.05 billion to help strengthen the resilience of Ukraine’s energy system which remains under assault by Russian missiles and drones. Assistant Secretary for Energy Resources Geoffrey R. Pyatt leads the G7+ group to coordinate international assistance to maintain and modernize Ukraine’s energy system which is a cornerstone of Ukraine’s economic recovery.

Throughout the Forum, U.S. leaders and its partners recognized the sustainable revitalization of Ukraine’s economy will require the dynamic participation of the private sector. The United States will continue to engage the private sector to identify new opportunities to work together to spur investment for the sustainable revitalization of Ukraine’s economy.

Learn more about the 2024 U.S.-Ukraine Partnership Forum at the webpage: events.uschamber.com/2024usukrainepartnershipforum/

 

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