BRAMA, Mar 7, 2006, 4:30 pm ET|
Experts assess Ukraine's business environment
New York (March 7, 2006) This morning, a roundtable entitled "Anniversary of the Orange Revolution: Is Ukraine a Better Place to do business?" was held at the offices of a major midtown New York law firm. It was jointly organized by the Committee on Central, Eastern European and Central Asian Law of the International Law and Practice Section of the NY State Bar Association, the Consulate General of Ukraine in New York, and US Council for International Business.
The event took place one day after the signing of bilateral WTO accession agreements by US Trade Representative Rob Portman and Ukrainian Economic Minister Arseniy Yatsenyuk, and the eve of the U.S. House vote on Ukraine's Jackson-Vanik graduation.
Speaking under the tenets of the Chatham House Rule (where participants are free to use the information received, but neither the identity nor the affiliation of the participants may be revealed) presenters included a representative of the Bush administration, a senior analyst from a major debt rating firm, and a Ukrainian diplomat.
The audience numbered between forty and fifty people, including attorneys and businessmen with relevant practices, diplomats from Ukraine and the Russian Federation, and students focusing on international trade finance with Ukraine.
Information presented included an overview of critical economic trends in Ukraine underscoring high points as well as deficiencies, methods for rating Ukraine's sovereign and country risk, and the required predicates of accession to economic organizations such as the World Trade Organization (WTO) and the European Union.
Subsequent discussion between the audience and the panelists focused on the vitality and development of Ukraine's capital markets, suggestions and advice for Ukrainian politicians and parties to demonstrate their allegiance for market stability, liquidity, and transparency, and awareness of key cultural sensitivities when doing business in Ukraine.
While everyone lauded the developments in Ukraine since the Orange Revolution, there nevertheless was the sense that the country should be further along in its economic development.
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