Expanding European partnership: UBTA signs a memorandum of cooperation with Ost-Ausschuss der Deutschen Wirtschaft (OA)
Berlin, October 19, 2021. The Ukrainian Business and Trade Association (UBTA) and the German Eastern Business Association (Ost-Ausschuss der Deutschen Wirtschaft - OA) signed a Memorandum of Cooperation.
The Memorandum paves the way toward closer partnership between the UBTA and OA to explore and develop opportunities in the hydrogen economy, a key priority of strategic partnership between Germany and Ukraine. The key objective of the partnership is joint identification, screening and development of bankable projects in production, storing and transportation of "green" hydrogen from Ukraine to Germany and other European countries.
In doing so, the UBTA and OA will closely coordinate their work with the Governments of Ukraine and Germany, relevant government agencies responsible for decarbonization and promotion of hydrogen.
“We are ready to face this challenge: OA and UBTA have identified their main priorities - the implementation of decarbonization projects. Therefore, the first topic we are working on together with our German partners is the mass production of hydrogen in Ukraine”, said Dmytro Los, Chairman of the Board of UBTA.
“The German companies are highly interested in having a stable and reliable source of hydrogen supply. We do see Ukraine as such a strategic partner”, OA assured.
UBTA is an avid supporter of climate ambitions of the Ukrainian Government on the basis of principles of sustainable economic development, and an active promoter of decarbonization of the Ukrainian economy. Key achievements in this track include:
- Development of a consolidated position of the Ukrainian business with regard to Ukraine’s climate commitments in the Second Nationally determined contribution (NDC) to the Paris Climate Agreement (in partnership with the Center for Economic Recovery of Ukraine (CER))
- Launch of the national awareness campaign on food security and sustainable transformation of food systems in the run-up to the UN Food Systems Summit, September 2021
- Advisory and advocacy campaign regarding the impact of the EU carbon border adjustment mechanism (CBAM) initiative on EU-Ukraine trade
UBTA welcomes the partnership with the OA and assures that the signing of the memorandum was the first step in the effective cooperation of the Associations, in particular on the part of "green" hydrogen.