Ukraine and Norway are intensifying efforts to strengthen bilateral cooperation, particularly in developing decentralized generation, hydropower, other renewable energy sources, and natural gas, as well as engaging in institutional collaboration on nuclear safety and security.
These cooperation priorities were outlined in a joint statement following the fourth session of the Ukraine-Norway Intergovernmental Commission on Trade, Business, and Economic Cooperation held in Kyiv.
“We are grateful to Norway for the substantial support provided to Ukraine since the start of russia's full-scale invasion. Our countries are deepening collaboration not only in international relations but also in economic projects. Ukraine has significant potential for energy sector development, and our national strategy is to transform Ukraine into an energy hub for Europe. Today, we discussed with Norwegian partners cooperation in renewables, gas issues, nuclear safety, and economic projects, including business-to-buisiness partnerships. It is vital that Norwegian businesses believe in Ukraine and our future,” noted German Galushchenko, the co-chair of the Ukrainian side of the Commission and Ukraine's Minister of Energy.
During the event, both sides emphasized business-to-business cooperation in sectors such as IT, energy, trade, and housing construction. Some Norwegian companies are already active in the Ukrainian market, others are exploring entry opportunities, and some are developing specific projects.
The co-chair of the Norwegian side, Norway’s Minister of Trade and Industry, Cecilie Myrseth, confirmed Norway’s readiness to continue supporting Ukraine's reform efforts and reconstruction.
“I am grateful for the warm reception in Kyiv for our delegation along with Norwegian businesses. Some of our companies are already present in Ukraine, while others are considering establishing a presence and are at the project development stage. Today, we had constructive discussions on strengthening and expanding our cooperation. Norwegian companies strongly support Ukraine and seek to build new partnerships with Ukrainian companies for our shared future,” stated Cecilie Myrseth.
The Commission noted significant progress in strengthening economic cooperation between Ukraine and Norway since the last session in November 2020. Key developments include steady growth in bilateral trade, advancements in the Ukraine-Norway dialogue on information technology and energy, and continued collaboration in the fishing sector.
The session concluded with the following cooperation priorities: accelerating the commitments outlined in the Joint Statement on Strengthening Ukraine-Norway Cooperation in the Energy Sector and the Memorandum on Energy Partnership; enhancing cooperation in Ukraine's reconstruction, particularly through projects financed by Norway's Export Credit Agency “Eksfin” and the Norwegian Investment Fund “Norfund”; raising business awareness of investment opportunities; and furthering existing bilateral economic cooperation in sectors such as fish and seafood trade, information technology, as well as exploring new areas of collaboration.
