Japan will allocate EUR 1.25 billion to support Japanese investors in Ukraine

Іn Tokyo, Prime Minister of Ukraine Denys Shmyhal held meetings with the ministers of economy, trade and industry, finance, and foreign affairs of Japan to discuss economic cooperation between the two countries, assistance to Ukraine and the confiscation of frozen russian assets.

According to the Head of Ukrainian Government, Japan will allocate EUR 1.25 billion to support Japanese investors in Ukraine. The relevant documents were signed during the Conference for Promotion of Economic Growth and Reconstruction. Denys Shmyhal personally thanked Ken Saito, Minister of Economy, Trade and Industry of Japan, for his assistance.

“The new programme of the Japanese export credit agency NEXI will consist of two parts. These are, in particular, guarantees for Japanese investors and a credit line for the export of Japanese goods for the implementation of Ukraine’s recovery projects,” the Prime Minister said.

The two officials also discussed further trade liberalisation between the two countries. Denys Shmyhal suggested to Ken Saito that the issue of updating the investment protection agreement be considered.

At the meeting with Japanese Minister of Finance Shunichi Suzuki, the parties discussed, among other things, the continuation of budget support. The Prime Minister expressed his gratitude for the intention to allocate USD 4.5 billion in financial assistance this year.

Denys Shmyhal and Shunichi Suzuki also welcomed the signing of the Convention for the Avoidance of Double Taxation, which will simplify the work of Ukrainian and Japanese businesses.

On the sidelines of the Conference for Promotion of Economic Growth and Reconstruction, the Prime Minister of Ukraine met with Minister for Foreign Affairs of Japan Yoko Kamikawa. The agenda included the confiscation of frozen russian assets.

“Our common task is to bring russia to justice and make it pay,” said Denys Shmyhal. He stressed the need to put russia on the FATF blacklist and to take measures to avoid the recognition of pseudo-elections in the Ukrainian territories occupied by russia.

“We are grateful to Japan for supporting the Peace Formula of the President of Ukraine and the establishment of a special tribunal to bring the russian leadership to justice,” the Head of Ukrainian Government concluded.