Japan Holds First Ukraine Economic Growth and Reconstruction Conference; Prioritizes Support in Seven Areas

The Yomiuri Shimbun

18:12 JST, February 19, 2024

The Japanese government convened the first Japan-Ukraine Conference for Promotion of Economic Growth and Reconstruction in Tokyo on Monday to discuss Ukraine’s recovery and reconstruction efforts. The government outlined its policy of prioritizing coordinated support between the public and private sectors in seven target areas, including mine clearance, agriculture and humanitarian assistance. A total of 56 cooperation agreements were signed by companies from both countries to facilitate specific forms of support.

The conference was attended by approximately 300 government and business representatives from both Japan and Ukraine, including Prime Minister Fumio Kishida and Ukrainian Prime Minister Denys Shmyhal. The aim of the conference was to bolster international support for Ukraine, which will mark the second anniversary since the beginning of Russia’s aggression against it on Saturday.

In his keynote speech, Prime Minister Kishida described Ukraine’s economic recovery as “investing in the future” of the world and emphasized that “Japan, through both the public and private sectors, will provide robust support for economic reconstruction and industrial enhancement that will lead to the economic growth of Ukraine, a country with significant potential.” Prime Minister Shmyhal expressed gratitude for Japan’s assistance during Russia’s aggression, stating, “Thanks to Japan’s funding, millions of Ukrainian people have been able to survive.” He told participating companies, “We want you all to be part of an economic miracle for Ukraine.”

A joint statement adopted by the two governments underscored Japan’s commitment to providing long-term support necessary for ensuring the stability of Ukraine’s economy. The statement included such provisions as promoting new tax treaties to encourage Japanese corporate investment, relaxing visa requirements for Ukrainian business stakeholders, and opening a Japan External Trade Organization (JETRO) office in the capital city of Kyiv.

Cooperation deals were also signed during the conference, including IHI Corp.’s involvement in road restoration projects and Kubota Corporation’s provision of agricultural machinery to support Ukraine’s recovery efforts.

While the Japanese government issued a travel warning for Ukraine advising Japanese nationals to evacuate or avoid all travel throughout the country, it relaxed travel restrictions to Kyiv for Japanese companies and organizations involved in Ukraine’s recovery and reconstruction efforts on Monday. This decision allows for conditional travel while maintaining the highest level of warning, contingent on thorough safety measures and compliance with specified conditions.