Why Transatlantic Business Partnerships Are Key to a Better Ukraine

As of November 2022, Ukraine has been involved in a full-fledged war against Russian aggression for over 260 days. Despite the destruction and loss the residents of Ukraine face, the support of transatlantic businesses provides the opportunity to help shape the country's future.

At the U.S. Chamber of Commerce’s fourth annual Transatlantic Business Works Summit, Oksana Markarova, Ambassador of Ukraine to the United States, discussed how current and future business partnerships can help Ukraine rebuild and reshape the future economy.

Businesses That Support Ukraine Have Made a Difference in the War Efforts

Throughout the war, 40 million Ukrainians have been fighting in various ways for their country. In the meantime, the government has maintained business operations. Banks, suppliers, producers, and more are working to keep the economy afloat while facing the war head-on.

According to Markarova, the U.S. Chamber of Commerce and The American Chamber of Commerce in Ukraine have worked alongside American businesses in Ukraine to support employees located in Kyiv. Humanitarian support and assistance have also made a difference.

“Thank you for those of you who are working with Ukraine House [in the United States] or with the initiatives that we’re working with United24 and First Lady Olena Zelenska’s [Foundation],” said Markarova. “Or working directly with the institutions that you know in Ukraine. We need to leapfrog and … build something innovative and more inspiring in Ukraine, and that is not possible without business."

Efforts Are Made to Build an Inspiring and Innovative Ukraine

Though winning the war is a top priority in Ukraine, winning peace and building a better Ukraine for the sake of the economy – and the world – is just as important, said Markova.

“We are working hard to seize and confiscate Russian assets, and they have to pay for this aggression,” said Markova. “Of course, we count on the support of all of our strategic friends — the European countries, [the United States, and] Canada — to support us. It will not be possible without the active involvement of U.S. and other businesses or transatlantic business corporations.”

Markova said there is an opportunity to use innovative solutions in Ukraine with the help of strategic partners. “Ukraine can be a solution to so many global problems that we have right now: food security, cyber security, energy security, you name it,” she said.

Together, the World Can Work Towards Peace

Markarova said forging partnerships and participating in the active planning phase toward a better economy is something that can take place in the present. At the same time, Ukraine is still involved in a war. She urged businesses to turn their words of support into actions.

“If we are together, we can win this war together,” said Markarova. “That will help us to deter so many other adversaries in the world [and] also show that it's not OK in the 21st century to attack a peaceful country with brutal force and change the borders. And I think that is a very important notion … everywhere in the world.”

Interested businesses ready to participate in the success of Ukraine and support its business endeavors can reach out to the Chamber for guidance and the next steps, said Markarova.

“Let’s work together so that we have more American, more transatlantic, and more European business in Ukraine,” she added.