From: Global Affairs Canada
News release
June 19, 2024 – Ottawa, Ontario – Global Affairs Canada
The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, announced the appointment of Roman Dubczak, Deputy Chair, CIBC Capital Markets, as Canada’s representative to the Business Advisory Council (BAC) launched at the 2024 Ukraine Recovery Conference in Berlin, Germany, last week.
Comprised of industry leaders from G7 countries, the BAC was established under the Multi-agency Donor Coordination Platform for Ukraine (MDCP) to support business recovery in Ukraine and encourage new investments. It is anticipated that the BAC will boost trade and investment as key drivers of Ukraine’s recovery, reconstruction and growth.
The BAC will support the MDCP’s decision-making by providing essential business insights and recommendations to enhance Ukraine’s investment climate. It will also provide advice on strengthening Ukrainian small and medium enterprises, including women entrepreneurs and social impact investors critical to Ukraine’s long-term recovery.
While at the Ukraine Recovery Conference, Export Development Canada (EDC) was one of the first 13 export credit agencies to sign a Memorandum of Understanding (MOU) fostering collaboration for enhanced export credit assistance and foreign direct investment for Ukraine.
Quotes
“Canada continues to stand with Ukraine and the trade and investment sectors are no exception. The appointment of Mr. Dubczak to the MDCP BAC and EDC’s signature of this MOU exemplify Canada’s support for and contribution to the rebuilding of Ukraine, especially looking forward to the imminent coming into force of the modernized Canada-Ukraine Free Trade Agreement (CUFTA).”
– Mary Ng, Minister of Export Promotion, International Trade and Economic Development
Quick facts
- As first outlined in the 12 December 2022 G7 Leaders’ Statement, the G7 Multi-Agency Donor Coordination Platform for Ukraine was established to ensure close coordination among donors and help advance Ukraine’s reform agenda and promote private sector-led growth.
- The MDCP has since expanded beyond the G7 and is now comprised of 22 countries participating in the Platform (13 members and 9 observers); new members were invited to join based on significant funding levels to Ukraine and their interest in supporting the country’s path to democratic and economic reforms.
- To boost trade and investment as a key driver of Ukraine’s growth, recovery, and reconstruction, and to ensure that the MDCP takes into account views from the private sector, the MDCP established the Business Advisory Council (BAC). As a permanent member of the MDCP, Canada was invited to nominate one representative to the BAC.
- Since August 1, 2017, CUFTA facilitated trade between Canada and Ukraine.
- The modernized CUFTA will enter into force on July 1, 2024. It will mark a new era in the economic relationship between both countries.
- EDC helps Canadian firms conduct business internationally through expertise exchange, financial solutions, insurance, and networking opportunities.
