International expansion and exports to Ukraine
© Chaiwat Hanpitakpong on UnsplashAbout Ukraine
Ukraine is Europe's second-largest country and has a population of approximately 41 million. Its capital, Kyiv, is one of the oldest cities in Eastern Europe, with a rich history and culture. Ukraine's official language is Ukrainian. The country is strategically located between Europe and Asia, making it an important transit hub. Its currency is the Ukrainian hryvnia (UAH). Ukraine has a varied landscape of fertile plains, forests and mountains, which supports its strong agricultural sector.
Despite the ongoing war, Ukraine has strong potential for economic growth and development, particularly in agriculture, technology and industry. The country is known for its rich cultural heritage and strong traditions in music, art and literature. Ukrainians are known for their hospitality and resilience, creating a welcoming environment for both local people and international visitors.
Financial overview
Ukraine has a diversified economy, with strong agriculture, industry and technology sectors. The country is one of the world's largest exporters of grain and other agricultural products. Its industrial output includes steel, machinery and chemicals. However, the war has severely constrained economic growth, with serious consequences for infrastructure, the labour market and investment. International aid and support are crucial to economic stabilisation and reconstruction. At the same time, the IT sector remains resilient, with many start-ups continuing to grow despite the challenges.
Market opportunities
Even under challenging conditions, Ukraine offers significant market opportunities. Agriculture and food production remain strong sectors, with potential for exports and innovation in agricultural technology.
Infrastructure reconstruction is creating demand for building materials, technology and expertise. The IT and technology sector is dynamic, with a growing number of start-ups and increasing international interest. Humanitarian aid and development projects also offer opportunities for businesses in healthcare, education and energy. Despite the challenges, these areas offer opportunities for investment and long-term growth.
Trade relations
The country's main exports include agricultural products such as grain and sunflower oil, as well as steel and chemicals. Key imports include machinery, energy and chemicals.
Ukraine has an Association Agreement with the EU that includes a free trade agreement, providing tariff-free access to many European markets. However, the war has affected trade routes and logistics, and many trade relationships must adapt to the new security situation.
Investment and business establishment
Ukraine's post-war reconstruction presents a unique opportunity for foreign investment. Sectors such as infrastructure, energy and technology are particularly attractive. The Ukrainian government offers investment incentives, including tax exemptions and grants for innovation projects.
Setting up a business can be challenging due to bureaucracy and the current security situation. We recommend working with local partners and seeking advice from relevant authorities and organisations.
Innovation and technology
Despite the challenges, Ukraine has a thriving IT sector with many innovative start-ups. The country is known for its technological expertise and strong entrepreneurial culture. Innovation is particularly prominent in agricultural technology, green energy and health technology. Several public and private initiatives support research and development, and international collaboration is welcomed. Ukraine has the potential to become a leading technology player in the region.
Practical information
Travelling to Ukraine requires careful planning due to the security situation. Make sure you stay up to date with official travel advice and security recommendations. The housing market varies, and finding safe, comfortable accommodation in areas affected by the war can be challenging. The healthcare system is under pressure, but larger cities have good medical facilities. The war has also affected the education system, although many institutions continue to provide high-quality teaching.
Business culture
Ukrainian business culture is characterised by formality and hierarchical structures. Personal relationships and networking play an important role, and direct, honest communication is common. Punctuality and reliability are highly valued, while bureaucratic procedures can make decision-making time-consuming. Business attire is formal, and you should show respect for local traditions and customs. Despite the challenges of the war, it is important to demonstrate commitment and an understanding of the current situation when doing business in the country.
Case studies and examples
Several Norwegian companies have successfully established a presence in Ukraine, particularly through humanitarian projects and in the technology sector. For example, Norwegian technology companies have partnered with Ukrainian IT companies to develop innovative solutions.
Norwegian humanitarian organisations have provided emergency aid and support for reconstruction, and have received recognition for their work. These success stories show that it is possible to achieve positive results in Ukraine despite the challenges.
Rebuild Ukraine
The rebuilding of Ukraine has already begun. The country's defensive war against Russia has made it Europe's largest innovation laboratory. At the same time, once the war is over, Ukraine will be the world's largest construction site for decades.
By taking an active role in the ongoing reconstruction, you will also be well positioned to contribute to the long-term rebuilding effort.
We will be attending and taking an active role in the Rebuild Ukraine Conference 2026. Check our website for more information.
- Takes place from 11 to 13 November in Warsaw, Poland.
- International trade fair focusing on energy, construction and infrastructure in Ukraine.
- A unique opportunity to meet Ukrainian authorities, build networks and make connections.
- We are represented through Team Norway.
- You can register your interest in joining the Norwegian pavilion.
Norwegian companies invest in Ukraine – it will become a showcase for the whole world
‘We sometimes hold meetings in the bomb shelter, just to be on the safe side,’ says Ole Henæs, who is now based in Kyiv for Innovation Norway. But despite the war, it is still possible to do business in Ukraine.
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