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Ukraine, US sign understanding memo on commercial cooperation – Economy Ministry

KYIV. Sept 2 (Interfax-Ukraine) – First Deputy Prime Minister, Economy Minister of Ukraine Oleksiy Liubchenko and U.S. Secretary of Commerce Gina Raimondo have signed a memorandum of understanding on commercial cooperation between Ukraine and the United States, the Economy Ministry reported.

"In the memorandum, the participants stated their intention to strengthen commercial ties between countries to promote prosperity, security and growth. It provides for the promotion of commercial participation of American companies in the Ukrainian economy, as well as the promotion of commercial participation of Ukrainian companies in the US economy," the ministry’s website said on Thursday.

In addition, the participants in the memorandum also enshrined auxiliary goals related to the development and implementation of commercial projects and public procurement, both in Ukraine and in the United States, the Ministry of Economy added.

"I would like to note that today’s memorandum will become a reliable basis for the implementation of projects in these areas, taking into account the signing of a memorandum of understanding between the Ministry of Economy of Ukraine and the Export-Import Bank of the United States. Over the next few months, we expect the formation of a package of projects in the main and priority areas: on decarbonization, modernization of energy, development of infrastructure transmission networks," the website of the ministry quoted Liubchenko as saying.

During an exchange of views, the parties canceled the inclination to further interaction between the Ministry of Economy of Ukraine and the US Department of Commerce regarding the presence of national exporters in the markets of both countries, deepening trade and investment relations, the release says.

The signing of this memorandum lays the foundation for long-term commercial cooperation in such areas as energy, infrastructure, digital economy, defense and civil protection technologies, customs and border control technologies, cybersecurity, medical equipment, pharmaceuticals and others. The parties agreed that this list is not final and can be expanded if necessary.

In addition, Ukraine and the United States recorded in the memorandum their intention to expand cooperation in the field of Ukrainian privatization, public procurement, including by providing American companies with timely and accurate information, the ministry added.

"In particular, the possibility of holding exhibitions and information events, as well as events for the exchange of experience with engineering and technical support of commercial projects and public procurement in Ukraine and the United States, will be considered," the message says.