Ukraine expects to deepen its economic partnership with Germany — from supporting the resilience of the Ukrainian economy during the war to implementing joint investment projects, localising production and expanding technological cooperation.
Ukrainian Minister of Economy and Environment Oleksandr Kravchenko said this during a roundtable with representatives of German and Ukrainian companies held as part of German Federal Chancellor Friedrich Merz’s visit to Ukraine, with the participation of Ukrainian President Volodymyr Zelensky.
“Germany’s support today is critically important for Ukraine’s resilience. At the same time, in the long term, I see much greater potential for our partnership — to make it a source of strength and competitiveness for both our countries. We have already begun to realise this potential in energy and defence, but there are many more opportunities. We want more joint ventures, joint research and development, localised production and mutually beneficial investment projects,” Kravchenko said.
Germany is among Ukraine’s three largest trading partners. Imports from Germany are expected to exceed €6 billion this year. At the same time, German businesses have not only maintained their presence in Ukraine during the full-scale war but continue to invest in new manufacturing and infrastructure projects.
One of the instruments supporting new investment is UkraineConnect, launched by the German government and implemented by DEG. The programme provides German and European companies with preferential financing for projects in Ukraine and for expanding their presence in the Ukrainian market.
The parties also focused on protecting businesses against war-related risks. With Russian attacks continuing, insurance and compensation for losses are critical to maintaining economic activity, attracting new investment and developing joint production.
Ukraine is creating a national war-risk insurance mechanism under which the state will cover the first layer of losses in order to attract private insurers and reinsurers. Ukraine is also seeking German support in the form of international guarantees and reinsurance.
According to the Minister, Ukraine sees significant potential for expanding bilateral manufacturing and technological cooperation. In addition to energy and the defence industry, promising areas include the production of construction materials and equipment for reconstruction, the chemical industry and agricultural machinery.
Ukraine is interested in creating more joint ventures, developing joint R&D projects, localising production and attracting German technology and capital.
“Our government is currently working on an economic strategy for the next 15 years. We want Germany to be an active partner in this process — in developing flagship projects, bringing in technologies and standards, and mobilising investment. For German businesses, this means early access to a market that is growing, rebuilding and moving towards the European Union,” Kravchenko stressed.
Kravchenko noted that supporting Ukraine’s economy today is an investment in the country’s resilience. Keeping Ukrainian businesses operating and maintaining economic activity reduces the need for external support to finance the budget deficit. Preserving jobs and ensuring the stable operation of critical infrastructure also help Ukrainians remain and work in Ukraine.
The Minister thanked Germany for its consistent support for Ukraine and stressed the importance of further deepening economic cooperation between the two countries — from supporting resilience today to developing joint investments, manufacturing and technology projects over the long term.
