Ukraine, Japan Business Federation to continue and expand cooperation

For the first time in five years, the Ministry of Economy of Ukraine and the Japan Business Federation Keidanren held the ninth joint meeting in Tokyo with the participation of Ukrainian and Japanese businesses.

That is according to the Ministry of Economy, Ukrinform reports.

During the meeting, First Vice Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko and Chairman of the Keidanren Committee on cooperation with Ukraine Fumiya Kokubu signed a memorandum that provides for continued and expanded cooperation to support Ukraine's post-war recovery and expand bilateral cooperation.

“It is the private sector that should become the engine of economic development and reconstruction of Ukraine. Therefore, our priorities include further cooperation with Keidanren and its members. In particular, we have offered Japanese businesses the opportunity to establish joint ventures with Ukrainian companies, localize their technologies and production, open business representative offices, and supply high-tech industrial equipment and spare parts to Ukraine. At the same time, we have requested the Government of Japan to provide assistance in restoring the destroyed production facilities and infrastructure,” Svyrydenko said.

She stated that Japanese companies are already actively entering the Ukrainian market and that government organizations are opening their representative offices. Currently, over 40 Japanese companies are operating in Ukraine.

The representatives of Keidanren highlighted the progress in the reforms being implemented by Ukraine and confirmed their commitment to supporting Ukraine's recovery, mainly through public-private partnerships.

Following the meeting, the parties agreed to help solve the problems faced by Japanese companies in Ukraine.

About 100 Japanese companies and more than 20 Ukrainian participated in the joint meeting. The participants included representatives from various sectors: energy, finance, agriculture, engineering, logistics and construction.

As reported, Ukraine has offered the Japan International Cooperation Agency (JICA) to support projects on industrial cooperation, joint ventures, supply of equipment and spare parts, and restoration of destroyed industrial facilities.

Photo: Ministry of Economy