On May 29th, 2024, Zenon Potichny, President of the Canada-Ukraine Chamber of Commerce (CUCC), participated in the “The Role of Diaspora Institutions in Attracting Investments for the Rebuilding of Ukraine” Forum in Kyiv. This significant event brought together leaders and stakeholders from various diaspora institutions to discuss strategies for attracting investments crucial for Ukraine’s reconstruction efforts.

Mr. Potichny shared the various initiatives undertaken by the CUCC, emphasizing the Chamber’s longstanding dedication to fostering economic ties between Canada and Ukraine. He highlighted that, “For over 30 years, the Canada-Ukraine Chamber of Commerce (CUCC) has been a prominent voice for Canadian and Ukrainian businesses in trade and investment matters. Our commitment to enhancing economic ties has been unwavering and we continue to work hard to foster prosperity, strengthen partnerships, and build a brighter future for both Ukraine and Canada.”

The forum was organized by the Ukrainian Chamber of Commerce and Industry under the international cooperation programme “EU4Business: SME Recovery, Competitiveness and Internationalisation.” This programme, co-financed by the European Union and the German Government and implemented by the German federal company “Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH,” aims to bolster Ukraine’s economic resilience, recovery, and growth. It focuses on creating better conditions for the development of Ukrainian small and medium-sized enterprises (SMEs), supporting innovation, and boosting exports.

The CUCC’s Role and Initiatives

During his address, Mr. Potichny outlined several key initiatives of the CUCC:

  1. Rebuild Ukraine Business Conference: This annual conference serves as a platform for Canadian and Ukrainian businesses to explore investment opportunities and collaborate on projects aimed at rebuilding Ukraine. The event features expert panels, networking sessions, and discussions on the latest economic and political developments affecting bilateral trade and investment.
  2. Rebuild Ukraine Toolkit for Canadian Businesses: The CUCC has developed a comprehensive toolkit to assist Canadian businesses interested in investing in Ukraine’s rebuilding efforts. The toolkit includes market analyses, legal and regulatory guidelines, and practical advice on navigating the Ukrainian business environment.
  3. Investment Facilitation: The CUCC has been instrumental in creating a conducive environment for Canadian investors in Ukraine. By providing essential market insights and facilitating networking opportunities, the Chamber helps Canadian businesses navigate the Ukrainian market effectively.
  4. Trade Missions and Delegations: Over the years, the CUCC has organized numerous trade missions and delegations to Ukraine. These missions have been pivotal in introducing Canadian businesses to potential Ukrainian partners and investment opportunities.
  5. Advocacy and Policy Influence: The Chamber actively engages with both the Canadian and Ukrainian governments to advocate for policies that promote bilateral trade and investment. This includes efforts to reduce trade barriers and enhance economic cooperation between the two countries.
  6. Support for SMEs: Recognizing the crucial role of SMEs in economic growth, the CUCC provides tailored support to small and medium-sized enterprises in both Canada and Ukraine. This support ranges from business advisory services to facilitating access to financing and export markets.
The Importance of Diaspora Institutions

The forum underscored the vital role that diaspora institutions play in mobilizing resources and expertise for Ukraine’s rebuilding efforts. As Mr. Potichny noted, “Diaspora communities are uniquely positioned to act as bridges between their countries of origin and residence. They bring valuable perspectives, networks, and resources that can significantly contribute to economic development and investment.”

The “EU4Business: SME Recovery, Competitiveness and Internationalisation” programme exemplifies this approach by leveraging international cooperation to support Ukrainian SMEs. The programme’s focus on innovation and export promotion aligns well with the CUCC’s objectives, creating synergies that enhance the overall impact of these efforts.

Looking Ahead

The CUCC remains committed to its mission of fostering strong economic ties between Canada and Ukraine. As Ukraine embarks on its journey of rebuilding and recovery, the Chamber will continue to play a crucial role in attracting investments and supporting sustainable economic growth. Through ongoing collaboration with international partners and diaspora institutions, the CUCC aims to contribute to a prosperous future for both countries.

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