UK to allocate additional GBP 1.25 bln for trade, investment projects from Ukraine

KYIV. Dec 9 (Interfax-Ukraine) – Britain announces allocation of an additional GBP 1.25 billion for the implementation of trade and investment projects from Ukraine, the press service of the Ministry of Foreign Affairs of Ukraine said on Wednesday.

"The decision to additionally allocate more than UAH 35 billion for trade and investment projects confirms the high level of strategic partnership achieved during the visit of Ukrainian President Volodymyr Zelensky to London in October last year. Attraction of these funds, in addition to the previously announced GDP 2.5 billion, will create new opportunities for our economy and Ukrainian business, and increase the well-being of Ukrainian citizens," the press service of Ukraine’s Foreign Minister Dmytro Kuleba quotes his as saying.

As noted, under the chairmanship of Foreign Minister Dmytro Kuleba and Secretary of State for Foreign and Commonwealth of Nations and Development Liz Truss, a preparatory meeting of the strategic partnership dialogue between Ukraine and Great Britain was held in London.

"Last year, President Volodymyr Zelensky and Prime Minister Boris Johnson signed a historic Agreement on Political Cooperation, Free Trade and Strategic Partnership, which opened a new stage in relations between Ukraine and the UK. During this year, our states have almost doubled the volume of trade, significantly strengthened cooperation in countering security challenges, began to implement new projects to promote Ukraine’s integration into the EU and NATO," the press service quotes the minister.

The Minister recalled that strengthening relations with strategic partners is one of the key priorities of the Strategy for Ukraine’s foreign policy.

The Ukrainian and British delegations agreed to deepen political dialogue and cooperation in the field of defense and security, the embodiment of internal transformations in Ukraine, the fight against climate change, energy, human contacts, cultural and humanitarian interaction.

The parties also agreed to work together to further increase trade volumes and attract new investment.

The decision was congratulated by President of Ukraine Volodymyr Zelensky: "Great news from London. The UK will allocate an additional GDP 1 billion in support of Ukraine. This is new investment, trade, safety. Following my talks with British Prime Minister Boris Johnson last year, the size of the total British support will increase to GDP 3.5 billion."

Reportedly, the funds allocated by the UK Export Finance can be used in a number of areas, in particular in the health care, infrastructure and green energy sectors.

At the meeting, the Minister also highlighted the practical assistance of the United Kingdom in the development of the defense capability of our state, in particular its naval forces.

The foreign ministers agreed to work together to implement the tasks of the Crimea platform.

Dmytro Kuleba also proposed to intensify work on the liberalization of the visa regime for Ukrainian citizens.

Following the preparatory meeting, Ukraine and the UK adopted a joint communique.