German Chancellor Olaf Scholz called on German businesses to invest in war-torn Ukraine at a German-Ukrainian business forum in Berlin on Wednesday.
“If you invest in Ukraine today and in the coming years, you are investing in a future member of the EU,” the chancellor said.
“After the war, we will see growth rates and development opportunities in Ukraine that we only know from Central and Eastern European countries that have joined the EU in the last two decades, ” said Scholz.
About 2,000 German companies are active in Ukraine, he said: “Many of them are planning additional investments. They are helping to rebuild the country.”
Ukrainian Prime Minister Denys Shmyhal called for stronger cooperation between the two countries in the fields of digital technologies, agriculture, defense and energy.
“With Germany, we have the largest joint companies in the defense sector,” said Shmyhal, highlighting projects for the repair and maintenance of tanks, the production of modern infantry fighting vehicles, and defense systems air
The Prime Minister expressed gratitude that not a single German company left the Ukrainian market after the start of the war in 2022.
Regarding his country's economic potential, he also emphasized the reserves of rare earths and metals as well as large storage capacities for natural gas.
“We have the largest underground gas storage facilities in Europe, with more than 30 billion cubic meters, which could be safe gas in Europe,” said Shmyhal.
Energy support and record trading
Ukraine's energy infrastructure has been particularly targeted by Russian attacks, as the third winter of the war looms.
To help, the German government is providing €70 million ($74 million) for smaller heat and power plants, boiler systems, generators and solar energy systems.
Despite the constant threats and uncertainty caused by the war, German-Ukrainian trade will reach its highest value this year, with a volume of more than €12 billion, said Peter Adrian, president of the Association of Chambers German Industry and Commerce (DIHK). .
In bilateral trade in 2023, Germany exported goods worth €6.9 billion to Ukraine and imported goods worth €2.9 billion.
According to the Federal Statistics Office, imports from Ukraine mainly included agricultural products, auto parts and food.
