Kyiv, 6 September 2024 — Ukrainian businesses are planning to bolster their positions in the Czech market by establishing the Ukrainian-Czech Business Council – an initiative of the Ukrainian Chamber of Commerce and Industry (UCCI) supported by the United Nations Development Programme (UNDP) and the government of the Czech Republic. 

Andriy Andrykevych, elected today as the head of the Ukrainian side of the council, signed a declaration on the establishment of the new council, which will promote the interests of Ukrainian entrepreneurs in various Czech markets. 

The collaboration marks an important evolution in the trade relationship between Ukraine and the Czech Republic. As of the end of 2023, the Czech Republic ranks 7th in terms of bilateral goods trade volume between Ukraine and EU countries. In 2023, the trade turnover between Ukraine and the Czech Republic reached $2,785.4 million, which is 2.5% higher than the trade volumes for 2022. 

While Czech businesses working in the Ukrainian market have long benefited from a supporting structure through the Czech-Ukrainian Chamber of Commerce, Ukrainian entrepreneurs are yet to enjoy the benefits of a similar organization in the Czech market. 

Andrykevych explained that the Ukrainian-Czech Business Council aims to reinforce bilateral economic ties between the countries: “Today, Ukrainian entrepreneurs have formed an initiative group to help enhance cooperation in energy, infrastructure, the agro-industrial complex, and other promising sectors,” he said. “By uniting (in the council), we can improve conditions for Czech investments in Ukraine while also supporting our manufacturers, who see the Czech market as a promising avenue for development.” 

Christophoros Politis, Deputy Resident Representative of UNDP in Ukraine, stressed that the signing of the Declaration marked only the beginning of a strategic partnership: "This first step will pave the way for deeper collaboration,” Politis said. “We will support the Ukrainian Business Council’s participation at the annual Industrial Exhibition in Brno (the Czech Republic), where a Memorandum of Cooperation will be signed with their Czech counterparts. This will ultimately lead to the creation of the Ukrainian-Czech Chamber of Commerce – an official body that will represent Ukrainian entrepreneurs and strengthen economic ties between the nations.” 

Hennadiy Chyzhykov, President of the UCCI, emphasised the new council’s significance amid current global conditions: "The Czech Republic is a steadfast partner for us. More than 200 Czech companies have already invested in Ukraine, and Ukrainian businesses are keen to expand their ties with the Czech market. The business council will be a powerful tool to help our entrepreneurs adapt to the demands of this market." 

Jiří Preclík, First Secretary, Head of the Political-Economic Department, and Deputy Ambassador of the Czech Republic to Ukraine, highlighted Czechia’s commitment to Ukraine’s economic development: "Our main goal is to support mutual economic relations between Ukraine and the Czech Republic,” Preclík said. “Every year we organise over a dozen visits by Czech entrepreneurs to Ukraine, and by Ukrainian entrepreneurs to the Czech Republic, even though we (usually) plan for only two or three. The government always supports the initiatives of our embassy, because Prague understands the significance of developing these business relations. Ukrainian entrepreneurs can always count on our support." 

Background information 

The establishment of the Ukrainian-Czech Business Council is being supported as part of the UNDP project "Support to the Private Sector and Resilience in Ukraine," with financial assistance from the Government of the Czech Republic. 

Media inquiries 

Yuliia Samus, Head of Communications, UNDP in Ukraine, yuliia.samus@undp.org