Japan should become one of the leaders of economic recovery and reconstruction of our country

Ukraine has seen great interest from Japanese companies in launching and implementing new projects. Japan should become one of the leaders in the economic recovery and reconstruction of Ukraine. This was stated by Prime Minister Denys Shmyhal at a press conference on 20 February following his visit to Tokyo.

“The Ukrainian delegation to Japan had an extremely intensive programme. The key event was the conference on economic development and reconstruction. It was attended by representatives of business circles of the two countries, government officials, representatives of communities and regions,” said Denys Shmyhal.

During the conference, 56 documents of various levels were signed.

In particular, an intergovernmental agreement on the avoidance of double taxation was signed.

It was agreed that Ukraine would receive a grant from the Japan International Cooperation Agency (JICA) for the implementation of the Emergency Recovery Programme. According to the Prime Minister, the funds will be used for the reconstruction of the energy and transport sectors and for humanitarian demining.

In addition, the Ministry of Agrarian Policy and Food of Ukraine has signed a number of documents with Japanese companies producing agricultural machinery.

“The Japanese Urban Renaissance Agency will help rebuild the settlements destroyed by the enemy. This includes a wide range of technical cooperation. The Japan Water Agency will help restore the dams destroyed by the russians. Japan has vast experience in this area, which we will study and adopt,” the Prime Minister said.

Among other things, IHI CORPORATION will help build a strategically important bridge across the Danube and a bridge across the Dniester Estuary. In addition, a Memorandum of Understanding was signed with the Japan External Trade Organization (JETRO) to help Ukrainian producers enter the Japanese market.

“JETRO and the EBRD will also promote cooperation to facilitate interaction between Ukrainian small and medium-sized enterprises and Japanese companies. Japan’s state export credit agency, NEXI, will open credit lines for investment and exports to Ukraine. In particular, Japan will provide EUR 1.25 billion to support Japanese investment in Ukraine. This will have a cumulative effect,” said the Prime Minister.

In addition, the Japan Bank for International Cooperation (JBIC), through the Black Sea Trade and Development Bank, will provide a USD 150 million loan to support recovery projects by Ukrainian businesses.

Denys Shmyhal thanked the Japanese government, the business community and all those involved in the dialogue: “We know that Japan is always by our side, that the Japanese people believe in our victory and are helping to bring it closer.”