Ukraine is actively working to strengthen bilateral trade with Japan and has noted an increase in activity since the start of the full-scale invasion. Today’s goal of Ukraine is not only to trade with Japan but also to attract Japanese investment to produce Japanese products in Ukraine. This was emphasised by Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, at the Ukraine-Japan Business Forum held on 18 December in Osaka.
The event, organized by the Japan External Trade Organization (JETRO), was attended by representatives of the governments of Ukraine and Japan, the Ukrainian Chamber of Commerce and Industry and the Federation of Employers of Ukraine, two dozen Ukrainian companies, and over 200 representatives of the Japanese private sector.
“The volume of bilateral trade between our countries is growing. Last year, it increased by almost 30%. This year, it grew by almost 6% more, reaching USD 747.2 million. But we have room to grow. I am convinced that such business forums can deepen cooperation at all levels – from strengthening trade ties to attracting Japanese investment in the real sector of the Ukrainian economy,” Yuliia Svyrydenko noted.
According to her, Japan is the second largest donor of aid to Ukraine’s budget. This year alone, it supported the Ukrainian state budget by USD 4.2 billion. The country is also implementing more than 30 projects through international organisations, in particular in such areas as agriculture, medicine, humanitarian demining and others.
“We are extremely grateful to the Government of Japan for its comprehensive support of Ukraine. But recovery will be most effective in the synergy of the government and the private sector. Therefore, I called on Japanese businesses to invest in Ukraine’s key economic sectors, localise their production, open representative offices in Ukraine and establish joint ventures with Ukrainian companies. I also called on the Japanese government to support the restoration of damaged or destroyed Ukrainian industrial facilities,” Yuliia Svyrydenko added.