Ukraine and Germany are deepening their cooperation to establish joint defence enterprises and intensifying the implementation of existing projects. The parties are working to attract new companies that plan to localise production in Ukraine. This was discussed during a meeting between Yuliia Svyrydenko, First Deputy Prime Minister – Minister of Economy of Ukraine, and Robert Habeck, German Federal Minister for Economic Affairs and Climate Action.

“During the meeting with our German counterpart, we discussed potential opportunities to supply Ukraine with weapons for our defence needs. In addition, we reviewed the possibilities of establishing joint defence enterprises with German companies, as well as the progress of projects that are already being implemented. We also discussed the needs of German companies interested in localising production in Ukraine,” Yuliia Svyrydenko said.

The discussion focused on scaling up Ukraine’s military-industrial complex with the help of German experience and technology. Our country is interested in establishing joint ventures, transferring technology and attracting investment in the development of military technologies.

“If we produce even half of what Ukraine imports for the frontline, it will add 4-5% to GDP. That is why it is extremely important for us to attract the best German expertise and technology to the production of military goods. In addition, it is important to develop a guarantee mechanism for defence companies. We agreed with our partners to jointly consider possible options,” Yuliia Svyrydenko continued.

Another topic of interest to the German partners for deepening cooperation was the development of production and industry and the involvement of German companies in the critical materials sector. German businesses are interested in implementing relevant projects. Yuliia Svyrydenko invited potential investors to get acquainted with the prospective location of production facilities and projects to modernise Ukraine’s manufacturing sector, as well as to explore opportunities for cross-sectoral cooperation in the processing sector.

The parties also discussed ways to attract investment in other sectors of the economy. The Ukrainian side invited interested German companies to take part in the Ukraine Recovery Conference (URC-2024), which will be held in Berlin on 11-12 June 2024. It will be a good opportunity for Ukrainian and German entrepreneurs to come together, exchange ideas and explore potential partnerships.

“Ukraine is striving to become part of the global production chains of large German companies. And now is the best time to lay the foundation for a common future. After all, the war should not be a barrier for investors,” Yuliia Svyrydenko concluded.