In a bid to bolster economic cooperation, Japan and Ukraine have embarked on negotiations for an investment treaty, signaling a new chapter in their bilateral relationship. Prime Minister Fumio Kishida of Japan welcomed Ukrainian counterpart Denys Shmyhal in Tokyo, where they discussed avenues for deepening ties and fostering mutual prosperity.
During the meeting, Prime Minister Kishida outlined a series of measures aimed at enhancing economic collaboration between the two nations. These include plans for a new bilateral tax treaty, support for Ukrainian venture capital companies, and measures to facilitate smoother visa processes for travelers between the two countries.
While specifics of the investment treaty were not disclosed, Shmyhal later revealed on Telegram that Japan has allocated 1.25 billion euros ($1.35 billion) to support Japanese investors in Ukraine. This allocation encompasses various forms of support, including guarantees for investors and credit lines to facilitate the export of Japanese goods for projects aimed at enhancing Ukraine’s infrastructure.
Of particular note, Shmyhal expressed optimism regarding potential investments from major Japanese corporations, with hopes of seeing the establishment of production facilities, including those by renowned carmakers such as Toyota, within Ukraine’s borders.
Japan’s commitment to supporting Ukraine’s economic development has been evident through its pledge of over $10 billion in financial aid, demonstrating a strong partnership between the two nations.
The meeting between Prime Minister Kishida and Shmyhal also set the stage for the upcoming Ukraine Recovery Conference, scheduled to take place in Germany in June. Both leaders reaffirmed their dedication to preparing for this event, which aims to garner international support for Ukraine’s economic growth and development.
In a joint statement issued after the meeting, both leaders emphasized their commitment to fostering cooperation across various sectors, including agriculture, energy, and infrastructure. This commitment was further solidified through the signing of agreements between approximately 50 Japanese companies and their Ukrainian counterparts, although the specific value of these deals was not disclosed.
President Volodymyr Zelenskiy of Ukraine expressed gratitude to Prime Minister Kishida and the Japanese people for their unwavering support, highlighting the growing momentum of Ukraine-Japan cooperation. Zelenskiy underscored the importance of leveraging Japan’s expertise and experience to drive economic progress, signaling a promising future for bilateral relations.