Compliance, Corporate Governance and Anti-Corruption: A Foundation for Economic Security and Trust Between Ukraine and European Partners

Olena Sukmanova, President of the Safe Ukraine 2030 Foundation, moderated a meeting of the Committee of the Luxembourg–Ukraine Chamber of Commerce dedicated to compliance, corporate governance and anti-corruption in the context of Ukraine’s European integration.

European integration is Ukraine’s strategic choice - one for which our country continues to pay an extraordinarily high price. At the same time, Ukraine and European states are now moving towards one another: Ukraine is consistently advancing towards membership in the European Union, while European businesses and institutions are becoming increasingly engaged in Ukraine’s recovery and development.

This partnership requires a shared understanding of the rules, procedures and standards of doing business. For Ukrainian companies, compliance with European requirements in the areas of corporate governance, transparency and compliance is becoming not only a matter of legal obligation, but also an essential precondition for attracting investment and building international partnerships.

Particular attention during the discussion was given to the issue of corruption and its impact on Ukraine’s international reputation. The public visibility of corruption scandals directly affects the level of trust in the state and in Ukrainian business. At the same time, stronger anti-corruption mechanisms, transparency and responsible corporate governance demonstrate the capacity of Ukrainian society and business to respond to these challenges.

One of the central questions of the meeting was how Ukrainian business can build and strengthen the trust of European partners. This is not only about formal compliance with legislation, but also about fostering a sustainable corporate culture, transparent decision-making procedures and effective risk management systems.

Trust is one of the key assets in Ukraine’s relations with European partners. That is why today it is important not only to introduce the relevant rules, but also to demonstrate in practice the readiness of Ukrainian business to operate according to European standards, noted Olena Sukmanova.

The discussion featured experts Bałasz Kos and Stefano Barone, who presented practical recommendations on building compliance systems and strengthening trust between Ukrainian and European partners.