KYIV – Trade relations between Ukraine and Britain got a boost Friday July 25 with the launch of the British-Ukrainian Chamber of Commerce.
Fifteen British and two Ukrainian companies have clubbed together to form the chamber, which will seek to strengthen trade and business ties between the two countries. According to Chamber Director John Burbridge-King, the organization will concentrate in particular on developing cooperation in the agro-chemicals and oil and gas sectors.
“Out of 17 founder members no fewer than three [Shell, JKX Oil and Gas, and British Petroleum] are major oil and gas companies, working not just in exploration, but also associated industries,” said Burbridge-King, who is country manager for Ukraine, Russia and Eastern Europe for the British firm DeLaRue.
The chamber has already been registered in London, and is expecting to receive a legal registration in Ukraine in the near future. The British office of the chamber will be opened in London's financial center, known as the City, said Burbridge-King.
“The purpose of this is to get support from financial institutions in London, get them to invest in Ukraine, and help the Ukrainian companies wishing to do business in Britain to find the right partners,” he said.
The chamber will be open to all British and Ukrainian companies wishing to develop trade and business links between the two countries, said Burbridge-King. Britain is currently Ukraine's 10th largest export market in Europe outside the former Soviet Union, lagging well behind smaller countries such as the Netherlands and Slovakia.
During the first five months of this year, Ukraine's trade turnover with Britain was $116 million (compared to $577 million with Germany and $172 with France), according to the Statistics Ministry. The trade balance between the two countries was $46 million in favor of Britain, with Ukraine exporting goods worth $35 million to the U.K., and
