Today, U.S. Secretary of
Commerce Penny Pritzker and Ukrainian Prime Minister Volodymyr
Groysman issued the following statement regarding discussions on September 28
in Kyiv to accelerate economic reform, build a better business climate for all
companies and increase U.S.-Ukrainian bilateral trade and investment.
“In the spirit of the close
partnership between our two countries, we continued our fruitful dialogue on
Ukraine’s economic reform efforts and on the important role of the U.S. private
sector to increase business ties with Ukraine. Both sides noted with
satisfaction the International Monetary Fund’s (IMF) recent approval of the
latest review and disbursement of $1 billion and finalization of the third U.S.
government loan guarantee of an additional $1 billion. This new support builds
upon two previous $1 billion U.S. government loan guarantees and more than $1.3
billion in additional foreign assistance that the U.S. government has committed
to Ukraine since 2014 to advance reforms, strengthen democratic institutions
and civil society, stimulate economic growth, and help Ukraine more safely
monitor and secure its borders and preserve its territorial integrity.
Despite continued Russian
aggression in Eastern Ukraine and the illegal occupation of Crimea, the reform
process continues. In the last year, Ukraine has loosened capital controls in
order to facilitate further investment; reduced gas royalty rates to spur the
energy sector; finalized a platform for electronic asset declaration to reduce
conflicts of interest; implemented a world-class electronic procurement system;
made progress on corporate governance reforms in state-owned enterprises; and
acceded to the World Trade Organization’s Government Procurement
Agreement. Continued progress on the IMF program, anti-corruption
efforts, and deeper and accelerated economic reforms will be critical to
attract long-term foreign direct investment to Ukraine.
In meetings with President
Poroshenko, the Government and the Verkhovna Rada, all participants confirmed
their strong commitment to work together to further advance economic
reform.
As part of the Obama Administration’s strong support for an
independent, democratic and prosperous Ukraine, the United States will remain a
full and committed partner in this effort. Foreign direct investment
will be increasingly important to Ukraine’s long-term economic growth. In this
regard, both sides were pleased that five CEOs from the U.S. aerospace and defense,
agricultural, banking, energy and transportation sectors joined our meetings to
provide private sector views on how Ukraine can attract and retain private
capital.
During a meeting hosted by President Poroshenko and an Executive
Business Roundtable hosted by Prime Minister Groysman and members of his
economic team, executives from Cargill, Citi, General Electric
Transportation, Lockheed Martin and Westinghouse offered recommendations on
measures to improve the business climate and attract more foreign direct
investment to Ukraine. The U.S. Executive Business Roundtable was organized by
the Ministry of Economic Development and Trade of Ukraine and demonstrated the
continuation of a strong public-private partnership. In meetings with key Rada
deputies, both sides exchanged views on the importance of the rule of law and a
robust legislative base that fosters entrepreneurship and economic growth.
Deeper and accelerated economic reform will ensure Ukraine's success as a
modern European state with a flourishing, private sector-led economy that can
generate jobs and greater prosperity for all of Ukraine’s citizens.
During our consultations, both
sides discussed progress on a ‘Roadmap’ featuring several short-term,
actionable steps that will further increase business confidence. The U.S. and
Ukrainian sides underscored the urgency of such measures and the importance of
continued consultation among the U.S. business community, Ukrainian government
officials and the Rada. Both sides agreed on the importance of
quickening momentum on reforms, to ensure a smooth transition of work areas
with the incoming U.S. Administration.
With the continued support of
the United States, Ukraine will intensify anti-corruption efforts through
reforms in the Prosecutor General’s Office and implementation of judicial
reform; improve tax and customs administration to provide predictability in
business operations; conclude the privatization of the Odessa Portside Plant
and energy companies in accordance with international practices; accelerate
deregulation to eliminate unnecessary licensing and permitting; and pursue
corporate governance reform of state-owned companies. Ukraine also underscored
its commitment to move forward on agricultural policies that will attract
investment, to approve and implement anti-piracy legislation to protect
intellectual property rights and to improve the effectiveness and transparency
of its IPR system.
The Department of Commerce
continues to work with the Ministry of Economic Development and Trade on
business-climate improvements to ensure that the U.S. business community is
fully informed of Ukraine’s progress in implementing these critical reform
priorities. The Department’s Commercial Law Development Program continues to
provide expert advice on trade facilitation, WTO implementation and
anti-corruption measures. On September 27-29, CLDP hosted its 23rd program with
Ukraine in the last two years, bringing Ukrainian agencies and private sector
organizations together for a successful seminar on anti-corruption strategies. In
2016-7, the Department’s Commercial Service office in the U.S. Embassy in Kyiv
will organize nine private sector delegations to major trade shows in the
United States, focusing on the energy, environmental technology, safety and
security, and agricultural sectors.
The Department of Commerce will also
continue to provide Ukraine with technical assistance on intellectual property
rights protection, customs reform, judicial capacity building, government
procurement and trade facilitation.
At the conclusion of our
September 28 discussions, both sides agreed that while much work remains,
Ukraine is continuing on a reform path that will further integrate the country
into the global economy, and create the broad-based economic growth that the
Ukrainian people deserve.”
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