German Chancellor Angela Merkel to open Deutsch-Ukraine Business Forum
German Chancellor Angela Merkel will virtually open the 4th German-Ukraine Business Forum today.
The forum enables business and political leaders from both nations to discuss current and future economic ties. Today’s discussions will centre upon sectors involving development, technology, energy and agriculture. Particularly pertinent to talks will be Kyiv’s energy sector.
Ukraine has the potential to become a large fossil fuel and renewable energy producer, though a lack of transparency in its state-controlled energy companies’ operations poses a hindrance to growth. Currently, under the 2017 EU-Ukraine Association Agreement, Kyiv is obligated to align its energy regulatory framework with EU conventions. However, Ukraine has had to rely on external assistance to meet this requirement.
Expect Merkel to emphasise how Germany has been an important ally in Ukraine’s development and highlight Berlin’s €1.8 billion contribution towards Ukrainian development. Additionally, Merkel will likely discuss the opportunity for continued cooperation in the energy sector by emphasising the ripe opportunity presented under the 2020 German-Ukrainian Energy Partnership (EP). In the short-term, this partnership will serve as a scaffold for advancing bilateral energy interests. In the long-term, expect the EP to act as a foundation for German investments to improve Ukraine’s energy sector.
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