Welcome to the U.S.-Ukraine Business Council


Voice of America (VOA), Washington, D.C., Thu, October 15, 2009
WASHINGTON, D.C. - Washington perfectly understands the strategic importance of Ukraine's success, said former U.S. Ambassador to Ukraine William Taylor, speaking at a conference on Ukraine's economic development today in Washington.
During the forum, organized by the US-Ukraine Business Council, Taylor also pointed to "wounds that Ukraine caused itself" through political strife, which now hinders its economic development and only exacerbates the already serious economic crisis.
As for the upcoming presidential election, Taylor said that they give Ukraine a chance to get out of the current political paralysis and begin to move towards European integration and the implementation of the requirements of the International Monetary Fund - now a major source of loans for Ukraine. Taylor also stressed the need for legal reforms that would create better mechanisms to protect foreign investors.
Another key speaker at the forum - Deputy Prime Minister of Ukraine Hryhoriy Nemyria - explained why the global economic crisis hit Ukraine so hard.

  • Firstly, Ukraine delayed economic reforms too long, including reforming the energy sector.

  • Second, Ukraine is too dependent on exports of steel and chemical products, which indicates the need to diversify exports; without this the situation will not change for the better.

  • The third problem that only exacerbated existing economic problems is the ineffective political system, where the Prime Minister’s initiatives are obstructed by the President.
According to Nemyria, after the presidential elections Ukraine will have a window of 12-18 months before the next parliamentary elections within which to implemented necessary reforms.
Another conference participant – Ukrainian Minister of Economy Bohdan Danylyshyn will be a guest on today’s program Chas-Time.
LINK: http://www.voanews.com/ukrainian/2009-10-15-voa5.cfm. English translation by the U.S.-Ukraine Business Council (USUBC), Washington, D.C., www.usubc.org.

LINK: VOA Studio Guest: Minister of Economy Bohdan Danylyshyn, Voice of America, Washington, D.C., 18/10/2009 
The 1st Annual International Forum on the Economic Development of Ukraine, organized by the U.S.-Ukraine Business Council, took place recently in Washington. The Ukrainian government was presented by the Deputy Prime Minister Hryhoriy Nemyria and Minister of Economy Bohdan Danylyshyn. Danylyshyn also headed the Ukrainian delegation at a meeting of the US-Ukraine Trade and Investment Council. Myroslava Gongadze spoke with him.