Groysman, Netanyahu Meet, Discuss Economic Development, Trade

The two Prime Ministers discussed how Ukraine and Israel can increase trade and economic cooperation


Photo Ukraine Government Portal


Ukraine is a powerful partner of Israel and the Government stands ready to fully promote the implementation of Israeli projects in Ukraine.

Prime Minister of Ukraine Volodymyr Groysman made this statement during a meeting with Prime Minister of Israel, Benjamin Netanyahu. The meeting was held as a part of the visit of Netanyahu to Ukraine.

The sides noted that Israel has invested more than $50 million in the Ukrainian economy, and the Free Trade Agreement between the two countries will open up new opportunities for effective realization of the existing potential in trade and investment cooperation, especially in the sphere of IT and new technologies.

“We expect that the Israeli side will invest efforts to complete its internal procedures necessary for the entry into force of the Agreement,” Groysman said, referring to the Israeli Knesset which has yet to ratify the agreement, and may not do so until after the election scheduled for September, 17, 2019 and a new Knesset is seated.

Even without the official ratification of the Free Trade Agreement, Ukrainian and Israeli business circles have every opportunity to significantly increase trade turnover, business relations, develop promising sectors – such as agriculture, machine building and innovation.

Groysman expressed this view during a meeting with Ukrainian companies and high-tech leaders. The meeting was also attended by Netanyahu.

Groysman stressed that the visit of the Israeli Prime Minister is historic for Ukraine.

“I am glad that our governments managed to finalize and wrap up talks on the Free Trade Agreement. We have lifted visa barriers for our citizens. And now we are launching free trade zone, and we are talking about expanding the FTA to services, co-investment mechanisms, etc.,” Groysman said.

“That is why I urge our business communities to increase their trade turnover. Our synergy is in the agricultural sector, engineering, innovation. We can use our opportunities and experience to be stronger together.”

Netanyahu emphasized that such cooperation always brings benefits to both states, both in business and in administrative aspects because free trade also reduces barriers in the segment of state regulation.


Source Ukraine Government Portal
date 20.08.2019
categories Economics
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