Berlin (AFP) – German Chancellor Olaf Scholz on Wednesday urged businesses to invest in war-torn Ukraine and stressed a commitment to smooth Kyiv’s path to European Union accession. “If you invest in Ukraine today and in the coming years, you are investing in a future EU member,” Scholz said in a speech at a German-Ukrainian business forum in Berlin. “After the war, we will see growth rates and development opportunities in Ukraine,” he added. Scholz compared the country’s economic potential to that of the eastern European countries that joined the bloc after the collapse of the Soviet Union.
German trade with Ukraine had grown from some eight billion euros ($8.4 billion) in 2021 to almost 10 billion euros in 2023, Scholz noted. Around 2,000 German companies were active in Ukraine, with trade in defense and chemical products among other areas. In the Ukrainian energy sector, which has been relentlessly targeted by Russian attacks, Scholz expressed hope that cooperation would increase, stating “because…we need a lot of private investment.”
Germany was supporting Ukraine in its search for a “just peace” that would bring an end to the war sparked by Russia’s full-scale invasion, he added. Such an agreement would need to ensure “Ukraine’s independence and free choice for a future in Europe,” the chancellor remarked.
Regarding Ukraine’s EU membership, Scholz acknowledged that while the country would eventually join the EU, there was “still some way to go before that happens.” He affirmed that Germany would go “down this path together” with Ukraine towards accession.
Speaking at the same event as Scholz, Ukrainian Prime Minister Denys Shmygal emphasized that “the role of private business is key” in the rebuilding of the country. “Every euro invested…is a contribution to our common future” in the EU, Shmygal stated.
At a separate press conference, Shmygal also requested Chancellor Scholz to increase Ukraine’s defense support for the next year. Germany has been Ukraine’s second-biggest military backer after the United States. According to figures from the German government, Berlin has supplied Kyiv with a total of 37 billion euros in aid since the start of the war.
Increased defense commitments had been a major point of contention among Scholz’s governing partners before his coalition collapsed last month. A snap general election in Germany is slated for February 23.
© 2024 AFP
