To a Canada-Ukraine Business Luncheon

Ladies and gentlemen, the national stories of Canada and Ukraine are inter-twined. Our shared desire to open a new chapter in that shared history is why my visit to Ukraine is of great importance to Canada, and to me personally.

The strong, prosperous, dynamic Canada of today was built by the courage and fortitude of men and women from every corner of the world. Canada is a young nation. But in just over 130 years we have matured rapidly. Becoming a diverse country. With vibrant communities from every culture and nationality on earth. From this rich weave of cultures we have fashioned our own unique sense of identity.

Within the Canadian mosaic, Ukrainian-Canadians – now one million strong – have made an indelible mark. I have come to Kyiv, in part, to recognize this contribution. And to express the deep appreciation of Canada for sharing so many of your fine sons and daughters with us. However, the ties between Ukraine and Canada are more than an artifact of history. They are current and touch upon every facet of international life. That is why I was determined to come to Kyiv despite the uncertainty provoked by the recent turbulence on international financial markets.

Ukrainians played a key role in nurturing a young Canada. It is only natural that Canadians now return that favour by helping to nurture the new Ukraine. To be at her side as she builds a durable democracy, as she fosters free markets, and as she continues her opening to the world. My first priority is to reaffirm the support of Canada for the political and economic reform for which you have been striving since independence.

The path you have courageously chosen has been rough and at times, perilous. Staying the course for the long term will draw on all of Ukraine's legendary resources of wisdom and guts. It will put a high premium on leadership that can inspire those who remain unconvinced, and those who have yet to see the material benefits of independence. Above all, success will require cooperation, a spirit of national unity and a sense of shared responsibility across the spectrum of Ukrainian opinion.

A tall order, to be sure.

But I tell you, as a friend and a partner, that such commitment to reform is the only path that will lead to the emergence of the strong and prosperous Ukraine which your people dream of, and which Europe and the world needs.

I have also come to Kyiv to reaffirm that the commitment of Canada is more than just words and moral support, and will continue to be a source of concrete assistance to the Ukrainian reform effort.

Since independence, the Canadian International Development Agency, has built an impressive track record of responding to Ukrainian needs in the area of technical cooperation. We have emphasized human resource development, institution building and policy advice for private sector development. All of these are essential to a successful transition.

At the level of individual projects, CIDA has stressed four major objectives that are fundamental to Ukraine's future political stability and prosperity:

We have come to Kyiv for all of these reasons. And equally important, we have come to reaffirm that the Canadian business community has much to offer Ukraine. Just look around this room. With me today, are some of the best and brightest in Canadian business talent. Leaders in their fields. They have what Ukraine wants: know-how, and cutting-edge technology and equipment in energy, construction and agri-food. And they have come with a desire to invest.

Their presence also drives home a basic truth about doing business in a truly global economy: open markets and investment flows are the engines of economic growth and prosperity. More than that, they are the cornerstones of a vibrant, democratic society. These are lessons that have been well-learned in Canada. And lessons that Ukraine must learn as well if she is to achieve her potential and provide opportunity to her people.

Only business has the expertise to modernize struggling industries. Only business has the experience and know how to harness the new technologies that Ukraine needs to improve output and productivity. Above all only business can tap into the pools of investment capital that are essential to making it all happen.

What attracts business investment – be it Canadian, Korean or Ukrainian – is a healthy business climate. A fair and equitable tax system. An open and predictable legal system. An internationally recognized standards and certification regime. And a stable economy.

And it is in putting these pillars in place that government plays an indispensable role and has a fundamental obligation.

You cannot expect international businesses to assume the risk of investment on the mere promise that a healthy business climate will simply grow after they invest. You cannot expect business confidence to thrive in an environment where monopolies are sheltered. Where shoddy goods are tolerated. Where bribery is expected. Or where the rules of the game appear to be fixed.

I have always said that there is nothing more nervous in this world than a million dollars. Faced with an unhealthy business climate it will simply go elsewhere.

With that in mind, I strongly encourage you – Mr. President, Prime Minister – to stay the course of reform. To see the job through.

The audience here today is proof of the willingness and the desire on the part of the international business community to work in and with Ukraine. Canadian investors are no different than any others in one other way: they will go wherever they are welcome.

I say all this, ladies and gentlemen, not because I think of investment as being an end in itself. I say it because our experience in Canada has taught us that it is an essential means to a much more important end. Creating new opportunity for people. More jobs, new prosperity, a better quality of life – for themselves and for their children. Dreams that have eluded generation after generation of Ukrainians. And which they now have an historic opportunity to turn into a reality.

Finally, I am here in Kyiv to reaffirm what truly lies at the heart of the friendship and cooperation between Ukraine and Canada. And what will bring us into the next millennium together. Our shared commitment to making the world a better place in which to live.

We work together so well, in so many ways. On the NATO-Ukraine Commission. At the Organization for Security and Cooperation in Europe and the United Nations. Canada is very proud to have just started our term on the UN Security Council. And we hope to see Ukraine at the table this time next year.

From the early days of Canada, to the early days of an independent Ukraine, we have come a long way together. But we have many more miles to travel – together.

The eagerness of our business delegation to explore new possibilities in the new Ukraine bodes well for the road ahead. Canada is in this for the long term. And judging by the presence of their excellencies here today, I know that our desire is very much returned.

Please join me in a toast to Ukraine, her future, our shared future.