Norwegian Business Delegation to Kyiv Strengthens Trade Cooperation with Ukraine

On September 26, the Norwegian-Ukrainian Chamber of Commerce (NUCC) co-hosted a Norwegian business delegation in Kyiv, led by Cecilie T. Myrseth, the Norwegian Minister of Trade and Industry. The delegation aimed to boost trade cooperation and expand private sector support between Norway and Ukraine.

The Norwegian delegation included representatives from the NUCC, Export Financing Norway (Eksfin), Innovation Norway, the Confederation of Norwegian Enterprise (NHO), and leading companies such as Scatec, Moelven, Bergen Engines, Pelagia, Itera, Fenix Repower, Emergy and NOCON.

Norwegian-Ukrainian Economic Commission Meeting

In Kyiv, Trade and Industry Minister Myrseth met with both finance minister Serhiy Marchenko and energy minister Herman Halushchenko. Trade cooperation is an important area of collaboration between the two countries. Although air raid alerts forced the participants to continue in bomb shelters, the meetings continued

Together with the Ukrainian Energy Minister, Cecilie T. Myrseth chaired a meeting of the Norwegian-Ukrainian Economic Commission, with representatives from the Norwegian and Ukrainian business communities.

At the conclusion of the meeting, Mrs. Myrseth and Mr. Halushchenko signed a joint statement, outlining a strategic plan for future cooperation through the intergovernmental commission. This Commission will focus on strengthening trade relations between Norway and Ukraine, with a particular emphasis on key sectors.

NUCC was an active participant, with its Chairman of the Board, Ketil Bøe, attending and speaking in all meetings. The critical role NUCC plays in promoting Norwegian-Ukrainian cooperation was also highlighted by several, including the Ministers.

NUCC Organized Roundtable Discussion

After the political meetings, NUCC organized and hosted a roundtable discussion with representatives from both Norway and Ukraine. From the Ukrainian side, companies and organizations such as Naftogaz, Ukrhydroenergo, Ukrgazbank, the State Agency of Restoration, Ukrainian Association of Renewable Energy, and the Confederation of Builders of Ukraine attended, in addition to the above-mentioned Norwegian actors,  

The participants discussed challenges and opportunities, highlighting existing collaborations and raising issues concerning future projects.

In essence, the roundtable saw the need to look at financing structures to trigger new investment. Without good insurance or guarantees, the overall risk is too high to commit. However, several actors are looking into new structures for financing, hoping to ensure that projects can start sooner rather than later.

A team effort

The delegation visit was truly a team effort. As main hosts, the Norwegian Embassy in Kyiv organized all political meetings and security efforts to ensure everyone’s safety. For breakfast, Scatec invited Ukrainian and Norwegian companies to a networking event. Here, Ukrainian representatives updated the Norwegian Minister and her delegation on the energy situation in Ukraine, and the outlook for the coming winter. After the roundtable, Pelagia invited the delegation to their restaurant, Egersund Seafood, for some Norwegian based seafood before the train ride home.

We are proud to have been part of this delegation to Kyiv, alongside so many representatives, and we are grateful for the recognition of our ongoing efforts.