Skip to content
Edit post

PM Shmyhal: Ukraine, Japan sign 56 documents on cooperation, reconstruction

by Martin Fornusek February 19, 2024 10:35 AM 2 min read
Ukrainian Prime Minister Denys Shmyhal (R) and his Japanese counterpart, Fumio Kishida, in Tokyo, Japan, during the Japan-Ukraine Conference for Promotion of Economic Growth and Reconstruction on Feb. 19, 2024. (PM Denys Shmyhal/Telegram)
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

Ukrainian and Japanese business and government officials signed 56 agreements and memoranda within the framework of the reconstruction conference held in Tokyo, Prime Minister Denys Shmyhal said on Feb. 19.

The Japan-Ukraine Conference for Promotion of Economic Growth and Reconstruction, attended by a Ukrainian delegation led by Shmyhal, began earlier on Feb. 19 to foster dialogue between government officials and business sectors from both countries.

The newly finalized documents include an intergovernmental convention to avoid double taxation, an important step for Japanese business projects in Ukraine. The two governments also signed a memorandum on cooperation in education and technology.

The Japan Bank for International Cooperation (JBIC), the Export Credit Agency NEXI, the Japan External Trade Organization (JETRO), and the Japan International Cooperation Agency (JICA) signed more than 10 agreements to support Ukraine's reconstruction efforts.

Subscribe to the Newsletter
Ukraine Business Roundup

The Ukrainian Agriculture Ministry concluded several deals with Japanese companies on the supply of agricultural machinery to Ukraine. Naftogaz, Ukraine's state-owned energy giant, finalized an agreement on cooperation in wind energy. A deal on the modernization of Ukraine's gas compressor stations was also concluded during the conference.

The parties signed several other grant agreements and documents on cooperation in the fields of energy, telecommunications, infrastructure construction, and ecology.

"Japan has already shown leadership in financial support to Ukraine. Now, Japan should become one of the leaders of Ukrainian recovery and investment in our economy," Shmyhal said.

As the full-scale Russian invasion nears its two-year mark, Ukraine's expected reconstruction costs amount to $486 billion over the next decade, according to an assessment by the World Bank, the Ukrainian government, and the EU.

Japan has contributed around $8 billion to Ukraine in humanitarian and financial assistance since the start of the all-out war, according to the Kiel Institute for the World Economy.

Everyone talks about investing in Ukraine, but few are doing it
Despite its economy steadily improving from the first months of the full-scale invasion, very little foreign capital is currently trickling down to Ukraine’s private and public sectors. Money from international financial institutions has helped stabilize the economy, bolstering forecasts of 3.2% gr…

Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

2:13 PM

UK allocates over $180 million to bolster Ukraine's energy sector.

The U.K. has allocated nearly 150 million pounds (over $180 million) to support Ukraine's energy sector after recent Russian attacks, the head of the U.K.'s delegation to the Organization for Security and Co-operation in Europe (OSCE), Neil Holland, said on April 18.
Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
9:44 PM

IMF: Ukraine needs $42 billion in budget support for 2024.

Speaking in Washington, IMF Managing Director Kristalina Georgieva said she was "confident" this would be achieved but added that fully addressing the country’s economic problems would require ending Russia's full-scale invasion.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.