Japan Hosted a Conference to Boost Ukraine?s Economic Growth and Recovery

01.03.2024 - 06:35:47

Japan Hosted a Conference to Boost Ukraine?s Economic Growth and Recovery. Three Hundred Government Officials and Business Representatives Gathered to Show Japan's Support for Ukraine's Reconstruction

Business Wire India

On February 19th, representatives of the governments of Japan and Ukraine, as well as business organizations, gathered in Tokyo for the Japan-Ukraine Conference for Promotion of Economic Growth and Reconstruction.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240229458562/en/

Prime Minister Kishida Fumio emphasized how Japan can contribute to Ukraine’s post-war reconstruction. (Photo by: Cabinet Public Affairs Office)

The Japanese government delegation, led by Prime Minister of Japan Kishida Fumio, pledged long-term support for Ukraine's recovery through public-private partnership. The Ukrainian delegation, led by Prime Minister of Ukraine Denys Shmyhal, thanked Japan for its assistance and invited Japanese businesses to invest in Ukraine's reconstruction. Each delegation consisted of more than 100 government and corporate officials. In total, around 300 people and 130 companies took part in the conference. The two governments agreed to cooperate on seven key areas: land mine action and debris clearance, humanitarian aid and livelihood reconstruction, agricultural development, biotechnology, digital and information technology, transportation and energy infrastructure, and anti-corruption and governance-strengthening measures.

In his keynote speech, Prime Minister Kishida described supporting Ukraine's recovery from the ongoing war as "investing in the future," and called on the international community to contribute. “Japan’s public and private sectors will all work together through an all-Japan approach, utilizing the knowledge derived from Japan’s postwar and disaster reconstruction efforts,” he said in his speech. “The promotion of economic reconstruction, however, is not only investment for the future of Ukraine but also investing in Japan and the whole globe.” He outlined new initiatives for Japan's public and private sectors to support Ukraine. Kishida also announced that Japan would ease entry visa requirements for Ukrainian citizens involving in Japan-Ukraine cooperation projects.

Prime Minister Shmyhal thanked Japan for its ongoing assistance and Prime Minister Kishida for his visit to Ukraine in 2023. He added “Today’s conference will be the next step towards continuing the development of both countries’ relationships.” Shmyhal mentioned the financial success of Japanese companies in Ukraine so far and invited businesses to further invest in the coming “Ukrainian economic miracle.” He underlined key sectors such as energy, agriculture, and infrastructure as offering prime investment opportunities with robust growth potential.

Both leaders emphasized their commitment to cooperation, as well as the importance of the private sector in Ukraine's reconstruction.

The conference resulted in the announcement of 56 documents, including inter-governmental agreements. The two governments signed a convention eliminating double taxation, which will support Japanese companies to invest in Ukraine. They also signed an agreement on bilateral crediting, exchanged notes concerning a grant aid for emergency recovery, and pledged to collaborate in the fields of education and technology.

Other documents included deals between government agencies and individual businesses and business organizations. Japanese companies signed deals with Ukrainian companies and government agencies to develop energy facilities, rebuild infrastructure, remove land mines, and more.

Since the Russian invasion in February 2022, Japan has consistently provided humanitarian aid and other assistance to Ukraine. With the public-private partnership announced at this conference, Japan plans to use its technological expertise and experience in post-disaster recovery and reconstruction to strengthen its support for Ukraine.