A briefing on market entry and doing business in the Czech Republic
On February 11, 2021 Exporters and Investors Council (EIC) under the Ministry of Foreign Affairs of Ukraine and the Embassy of Ukraine in the Czech Republic held an online briefing for Ukrainian exporters on promising areas of Ukrainian-Czech trade and economic cooperation. Director of Economic Diplomacy Department of the Ministry of Foreign Affairs of Ukraine Mr. Dmytro Ponomarenko and Ambassador of Ukraine to the Czech Republic Mr. Yevhen Perebyjnis welcomed Ukrainian exporters of machine building equiment, agricultural sector, food industry, IT etc.
Mr. Dmytro Ponomarenko, Director of Economic Diplomacy Department of the Ministry of Foreign Affairs of Ukraine in the opening session of the event noted that despite the country’s relatively small size, the Czech Republic is one of the 15 largest trading partners of Ukraine in the world and is the seventh largest importer of Ukrainian goods in Europe.
The Czech Republic is one of the most successful economies among the so-called «new member states» of the European Union currently. According to GDP per capita based on purchasing power parity (93% of the EU average), the Czech Republic has already surpassed even a number of «old EU members»: Greece (67%), Portugal (79%), Spain (91%), and came close to Italy (96%)», - said Mr. Dmytro Ponomarenko addressing the participants of the briefing.
According to the pre-crisis 2019 statistics, the trade turnover between Ukraine and the Czech Republic amounted to more than $2 billion, and was a record for the history of bilateral relations. Due to the crisis triggered by the coronavirus pandemic, both countries have failed to achieve the same result in 2020. However, the trade turnover between Ukraine and the Czech Republic reached a fairly high level last year, and amounted to $1.8 billion (exports of goods from Ukraine to the Czech Republic amounted to almost $827 million).
During the event, Ukrainian diplomats discussed doing business environment in the Czech Republic: conditions and opportunities to enter the Czech market, certification in the Czech market, non-tariff barriers etc.
According to the Ambassador of Ukraine to the Czech Republic Mr. Yevhen Perebyjnis, the most promising areas of Ukrainian-Czech economic cooperation are industry, energy, transport, agriculture, tourism, and IT. A the bilateral projects in the field of modernization and safety of Ukrainian nuclear power plants with the participation of Czech companies (energy sector); we have a joint production project of Skoda cars at the Eurocar plant in Zakarpattia region (the automotive industry, for which the Czech Republic is well known). There are promising developments in the field of railway engineering, aircraft construction, information technology.
Exporters and Investors Council (EIC) is a platform, which unites Ukrainian producers, exporters and leading business associations providing necessary support in promoting their goods and services abroad and entering new markets, as well as attracting foreign investors and companies to Ukraine creating business matchmaking for the businesses.