Ukrainian and Warsaw stock exchanges ink cooperation agreement

Source: WSE and PFTS

During a press conference hosted by the WSE on May 16, 2007, CEOs of the WSE and PFTS (the largest Ukrainian stock exchange) signed an agreement on future cooperation.

The Ukrainian party was represented by Ms Irina O. Zarya, PFTS CEO, and Mr Bohdan O. Lupiny, PFTS Executive Director. The Polish party was represented by Mr Ludwik Sobolewski, WSE CEO, as well as the WSE Management Board Members.

Mr Marcin Gomoa, Polish Financial Supervision Authority Vice-Chairperson, and Mr Taras Tokarski, Head of Commercial Mission at the Embassy of Ukraine in Warsaw were also present at the signing. The aim of this agreement is to mark the beginning of a long-term cooperation between the two exchanges which will foster the access of companies to capital and investors.

Prior to signing the agreement, Mr Ludwik Sobolewski, WSE CEO, had stressed the importance of economic relations between the two countries. - 'Poland is among the most prominent economic partners of Ukraine, both in terms of export as well as import of goods and services. Coincidentally, Polish companies increasingly perceive Ukraine as an opportunity to grow their own business. The Ukrainian economic growth indicators are often more robust than those of the Polish economy'. The WSE CEO reminded that Ukraine will most probably join the World Trade Organization, before the end of the year. The Polish party expects to widen the access of Ukrainian companies to the opportunities provided by the Polish market. - 'It is important for us that Ukrainian enterprises looking for international exposure decide to find it on the WSE - which already is a truly international market, and that internationalization continues'.

Ms Irina O. Zarya, PFTS CEO, briefly addressed the current situation on international stock exchanges - 'Polish and Ukrainian exchanges belong to a group of medium sized European markets. A closer cooperation may bring synergy, which will boost the development of both markets'. Ms Zarya was pleased to note the long-term character of the agreement.

Mr Sobolewski outlined some prospective actions of the Warsaw Stock Exchange. - 'Firstly, we will speak with Polish enterprises operating their divisions or subsidiaries in Ukraine. We will try to convince them to consider listing these companies in Kiev and in Warsaw'. The second course of action will focus on investors. - 'We would like to grow the interest of WSE investors - both Polish and foreign - in the Ukrainian stock market'. Mr Sobolewski stressed that the cooperation between the two markets cannot be perceived egoistically. - 'The benefits of the agreement and our future cooperation must be seen by both markets, Polish and Ukrainian'.

Comments: (0)