Ukraine and Japan strengthen bilateral economic cooperation
24.12.2024 | 10:12 | Section for Public and Mass Media RelationsFirst Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko met with Minister of Economy, Trade and Industry of Japan Yoji Muto in Tokyo. The parties emphasized the success of the ninth joint meeting between the Ministry of Economy of Ukraine and Keidanren Japan Business Federation with the participation of Ukrainian and Japanese entrepreneurs.
“Japan actively supports our economy. In the first half of 2024 alone, Japan invested USD 203.5 million in the Ukrainian economy. Almost 40 of the largest Japanese companies operate in Ukraine, providing jobs and supporting our budget with taxes. The volume of bilateral trade is also growing. Last year, by almost 30%, this year by an additional almost 6%, reaching USD 747.2 million in 2024,” Yulia Svyridenko noted.
First Deputy Prime Minister expressed hope that financial support for Ukraine from Japan will be available next year, in particular in Japan’s state budget for 2025. The country’s parliament is currently considering the draft budget.
Japan is currently the second largest donor to Ukraine’s budget. In addition, the country is implementing over 30 projects through international organizations, including in areas such as agriculture, medicine, demining, and others.
The ministers also noted the opening of the Japan External Trade Organization (JETRO) office in Kyiv in October this year. The Japanese and Ukrainian sides agreed to further develop JETRO’s role in supporting business and strengthening economic partnerships between the countries.
The Expo 2025 World Exhibition in the Japanese city of Osaka will be the next important event in bilateral relations between Japan and Ukraine.
“I am sincerely grateful to Japan for the opportunity to represent Ukraine at the World Expo. This is the largest such event in the world. I am especially grateful for Japan’s willingness to financially support Ukraine’s participation, understanding the challenges we face. I am convinced that Ukraine’s participation in Expo 2025 will help us further deepen cooperation at all levels,” Yulia Svyridenko noted.
At the same time, the Japanese Minister of Economy noted the strengthening of cooperation between Japanese and Ukrainian businesses. In particular, 4 missions of Japanese businesses to Ukraine have already taken place. In addition, Japan, together with UNIDO and the Ministry of Economy of Ukraine, launched a project to transfer Japanese technologies to Ukraine with the support of the Japanese government.
The parties also discussed the steps necessary to increase trade volume.
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