On 9 December, a summit involving the four heads of state and government from the so-called Normandy Format countries will meet in Paris for the first time in over three years. On this occasion, the German Eastern Business Association (OAOEV) is proposing a European stability and growth pact for Eastern Ukraine.
Stability and growth initiative
“It’s time to turn reconstruction efforts in Eastern Ukraine into a joint European project and in doing so indicate to people that there are clear economic prospects for the region following the war,” says Oliver Hermes, Chairman of the Board of the OAOEV and President & CEO of the Wilo Group.
“The Wilo Group has been active in Ukraine for more than 20 years. Despite all of the challenges in the region at present, we can report that business is generally developing positively in the country. We envisage significant future growth potential going forward. There is no doubt that the Wilo Group will be supporting this Ukraine initiative, not only in relation to its economic interests but also based on its social responsibility,” emphasizes Oliver Hermes.
The initiative put forward by the business association consists of eight measures in total, which it is hoped can be implemented if summit talks go well.