Ukraine-Japan trade turnover grows by 6%

This was announced by First Vice Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko during a business forum in Osaka, Ukrinform reports citing the Ministry’s press service.

“The vume of bilateral trade between our countries is growing. Last year it grew by almost 30%. This year, it grew by almost 6% more, reaching $747.2 million,” Svyrydenko said.

She highlighted Ukraine's efforts to reinforce bilateral trade with Japan, noting a revival of activity since the start of the full-scale invasion. Ukraine's current objective is to not only facilitate trade with Japan but also to attract Japanese investment in Ukraine, with the aim of producing Japanese products in Ukraine.

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Japan is the second largest contributor to Ukraine's budget, having provided $4.2 billion in support this year. Additionally, the country is implementing over 30 projects through international organizations in the areas of agriculture, medicine, and humanitarian demining.

Svyrydenko called on Japanese businesses to invest in key Ukrainian economic sectors, localize production, and establish joint ventures with Ukrainian companies. She also called on the Japanese government to provide support for the restoration of damaged or destroyed Ukrainian industrial facilities.

The ministry noted that the business forum, organized by the Japan External Trade Organization (JETRO), was attended by representatives of the governments of both countries, the Ukrainian Chamber of Commerce and Industry, the Federation of Employers of Ukraine, two dozen Ukrainian companies, and more than 200 representatives of the Japanese private sector.

As reported by Ukrinform, on December 17, 2024, Japan announced the creation of a coordination council for Ukraine's reconstruction, which plans to invve Ukrainian and Japanese businesses.