About economic cooperation between United Kingdom and Ukraine

Oleksiy Lyubchenko discussed issues of economic cooperation with the Ambassador of the United Kingdom of Great Britain and Northern Ireland Melinda Simmons.

The First Deputy Prime Minister and Minister of Economy of Ukraine Oleksiy Lyubchenko met with the Ambassador of the United Kingdom of Great Britain and Northern Ireland to Ukraine Melinda Simmons on September 28 in Kyiv. During the meeting, the parties tackled issues of deepening trade, investment cooperation and energy security.

We would like to hear about the current economic situation in Ukraine and the First Deputy Prime Minister’s vision for further points of deepening Ukraine’s economic relations with the United Kingdom

Melinda Simmons
Ambassador Melinda Simmons / Photo from UNIAN

The Ukrainian side noted that Britain occupies a significant place in terms of bilateral trade in goods between Ukraine and European countries and in terms of foreign direct investment. In particular, almost $2 billion of investments have already been attracted to Ukraine. Bilateral cooperation between the two countries is constantly growing. This was achieved primarily through the Agreement on Political Cooperation, Free Trade and Strategic Partnership between Ukraine and the United Kingdom of Great Britain and Northern Ireland, which was signed in October last year by President of Ukraine Volodymyr Zelenskyy and Prime Minister of the United Kingdom Borys Johnson.

“The economy is recovering, we can offer a number of areas for joint projects. In particular, up to 105-110 million tons of new grain and oilseeds are expected in Ukraine, so it is possible to coordinate cooperation in mutually beneficial areas, in particular in the agricultural sector, grain exports. We also completed the collection of information for the further formation of the economic and social matrix of the regions to achieve the goals set by the National Economic Strategy Ukraine-2030. This document was initiated by the President of Ukraine Volodymyr Zelenskyy. One of the goals of this document is to implement investment projects, create jobs and strengthen Ukraine’s economy. I invite British businesses to join the implementation of investment projects in Ukraine,” Oleksiy Lyubchenko stressed.

Oleksiy Lyubchenko, First Vice Prime Minister – Minister of Economy of Ukraine

In addition, the parties discussed issues of Ukraine’s energy security.

The situation with world gas prices requires intensified action and the introduction of additional measures. Currently, the Government’s efforts are aimed at stabilizing the situation on the energy market, given the beginning of the heating season in Ukraine

Oleksiy Lyubchenko

During the exchange of views, the Ambassador of the United Kingdom of Great Britain and Northern Ireland to Ukraine supported Ukraine’s desire to continue the course of corporate governance in accordance with OECD principles.

The interlocutors also touched upon the preparation for the 26th Conference of the Parties to the UN Framework Convention on Climate Change (Glasgow, November 1-2, 2021).

Source: Ministry of Economy of Ukraine

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