Foreign investment: Ukraine and US renew 2008 trade agreement
To help strengthen the confidence of American businesses to invest in our country, Ukraine and the United States are updating the trade agreement from 2008
This was reported on the website of the Ministry of Economy.
The Minister of Economy of Ukraine, Yuliya Svyrydenko, reports: "This work will strengthen the confidence of American businesses in investing in Ukraine and will facilitate the implementation of projects for the recovery and reconstruction of Ukraine."
According to her, the renewal of the trade agreement is especially important in the context of US economic support for Ukraine and post-war reconstruction. More than 20 representatives of all US institutions involved in cooperation with Ukraine discussed existing aid programs and the next steps to attract investments to Ukraine.
Yulia Svyrydenko notes: "Ukraine wants trade policy to create a friendly and comfortable environment for American companies participating in recovery projects. It's time to update the Trade and Investment Cooperation Agreement (TICA) and provide all the necessary business guarantees on non-tariff measures like the regulatory environment of procurement procedures".
Reference to the 2008 agreement
In 2008, the governments of Ukraine and the United States signed an agreement on trade and investment cooperation. On behalf of Ukraine, the document was signed by the then Minister of Economy, Bohdan Danylyshyn, on behalf of the US government, by trade representative Susan Schwob. The main purpose of the agreement was to expand and strengthen economic relations between the countries in connection with Ukraine's accession to the World Trade Organization. In addition, the agreement provided for the creation of a bilateral cooperation mechanism – the Ukrainian-American Trade and Investment Council.
