Ukraine continues strengthening its ties with Japan.

On February 19, 2024, the Japan-Ukraine Conference for Economic Growth and Reconstruction was held in Tokyo, attended by prime ministers from both countries. Eight major Memorandums of Understanding (MoU) were signed with six large Japanese companies, including agricultural machinery manufacturers, and the Ministry of Agrarian Policy and Food of Ukraine, as well as some Ukrainian companies and a university. The signatories include, inter alia.

• The Japanese Urban Renaissance Agency;
• The Japan Water Agency;
• IHI Corporation.

The following focuses of cooperation were outlined: reconstruction of damaged or destroyed municipalities and dams in Ukraine, installation of a modular pontoon bridge and reconstruction of the M-15 road. IHI Corporation, together with the Japanese company PADECO, a member of the Interstate Consultants Engineers Guild, is working on a feasibility study for building a strategically crucial bridge over the Danube and a bridge over the Dniester Estuary.

Furthermore, the Japanese Ministry of Agriculture, Forestry and Fisheries (MAFF) has been working closely with Ukrainian partners within the framework of the Japan-Ukraine Joint Task Force on Revitalization Strategy of Agriculture (JTF), launched in November 2023.

In addition, the governments of Japan and Ukraine signed the Convention for the Elimination of Double Taxation. According to the Ministry of Finance of Ukraine, this instrument will open new opportunities for international trade and facilitate investments. It is mentioned that Japan is ready to make investments in the Ukrainian business development and postwar recovery. Japan has recently announced a $20 m investment in the American fund Horizon Capital.

As a reminder, Japan’s financial aid to Ukraine has exceeded $4.5 billion, which ranks Japan fourth among our partners by the amount of provided support to the budget.