Ukraine has invited the Organization for Economic Cooperation and Development (OECD) to join the development of the country’s Industrial Strategy as an expert partner. About this stated First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Svyridenko during a meeting between Prime Minister Denys Shmyhal and representatives of the Ukrainian government with OECD Secretary General Mathias Kormann.
“Supporting the national manufacturer with a focus on the production of goods with high added value and the development of industry is one of the priorities of the Ukrainian Government. We aim to reach the same level of processing in the structure of the economy as in other OECD countries — 20–25%. I am sure that your expertise in industrial policy will contribute to this.” Yuliya Svyridenko noted.
She expressed her gratitude to the OECD for the preparation of the Economic Review of Ukraine and emphasized that the priorities outlined in this document completely coincide with the directions defined by the Ukrainian government. In the organization’s report, special attention is paid to the need to preserve macroeconomic stability, support fiscal stability, develop human capital, attract investments and expand exports.
“This fully corresponds to our government priorities.” Svyridenko stressed.
According to her, a change in Ukraine’s classification within the OECD Country Risk Classification — from group 7 to group 6 — could be a significant incentive for attracting investments.
“Such a step will make risk insurance much more affordable”, — emphasized the Minister of Economy of Ukraine.
The OECD is an international organization that unites the world’s most developed economies and sets global standards in economic policy, trade, investment and finance. Participation in OECD programs opens up new opportunities for attracting foreign investment and financial assistance. In terms of influence, the OECD is among the top three economic institutions in the world, together with the International Monetary Fund and the World Bank.
