Joint Statement on Strengthening the EU-Ukraine Business Partnership by Denys Shmyhal, Prime Minister of Ukraine, and Marta Kos, European Commissioner for Enlargement

On 10 April 2025, on the occasion of the EU-Ukraine Business Summit in Brussels, we reaffirmed our commitment to Ukraine's future in the European Union. To achieve this goal, we need to accelerate our joint efforts in support of Ukraine's accession to the EU, EU-aligned reconstruction, recovery and modernisation, as well as gradual economic integration into the EU Single Market.

We emphasised the importance of strengthening our economic and investment ties based on an enhanced EU-Ukraine business partnership in close cooperation with the private sector. This requires a more favourable investment climate stemming from the consequences of the war. Despite the challenging context, Ukraine has demonstrated significant progress in implementing business-related reforms, particularly through the development and implementation of the Ukraine Plan within the framework of the Ukraine Facility, as well as reforms under Ukraine's EU accession process. These reforms are contributing to the improvement of the business climate and will further facilitate investments by EU companies. Continued progress will help reinforce investor confidence and ensure long-term sustainable growth.

To achieve this, we agreed to intensify work in the following key areas of bilateral cooperation:

1. Delivery of Business Environment Reforms

Ukraine reaffirmed its commitment to implement key reforms aligned with its EU accession process and as included in the Ukraine Plan. These reforms are improving Ukraine's business climate and facilitate investments by EU companies in Ukraine. We are determined to also accelerate sectoral integration of Ukraine into the EU Single Market, particularly through mechanisms under the Deep and Comprehensive Free Trade Area (DCFTA) as enshrined in the Priority Action Plan for enhanced implementation of EU-Ukraine DCFTA in 2025-2026.

2. Mobilising Financing

We underscored the need to maximise the potential of the Ukraine Investment Framework (UIF) under the Ukraine Facility, aiming to de-risk private investments, unlock private equity, and encourage foreign direct investment in Ukraine's recovery and reconstruction. By leveraging financial instruments such as guarantees and blended finance, we will incentivise private sector involvement in Ukraine's recovery, reconstruction and modernisation.

We welcomed the strong interest of European businesses in engaging with Ukraine's recovery through the recent Call for Expressions of Interest under the UIF, which attracted a significant number of submissions from EU-based companies across strategic sectors. We will continue to work with partner Financial Institutions to facilitate access to financing and advisory support and ensure alignment with Ukrainian and EU policy priorities.  

We also welcomed the recent launch of the Call for Proposals for Intermediated Lending Operations for Micro-, Small and Medium-Sized Enterprises via Banks, which will enhance access to finance for businesses affected by the war. This inclusive approach illustrates the flexibility and comprehensive nature of the UIF, which is increasingly evolving into a systemic instrument that mobilises capital, stimulates transformative economic change, and supports long-term sustainable development in Ukraine.

3. Investment Promotion

We will promote Ukraine as a thriving investment destination for investments in strategic sectors, including particularly in the area of defence.  We will bring together EU and Ukrainian business associations through platforms, such as the EU-Ukraine Business Summit, the upcoming Ukraine Recovery Conference and the EU-Ukraine Investment Conference.

We agreed to hold high-level meetings with leading business associations from the EU and Ukraine, to assess progress on our shared objectives, strengthening of business partnerships, and addressing any obstacles to the EU-Ukraine business partnership. We decided to hold a first meeting in the margins of the Ukraine Recovery Conference in Rome in July 2025.