U.S. Vows to Strengthen Commercial Ties with Ukraine
The State Department announced March 12 that the United States and Ukraine have agreed to reaffirm their partnership and strengthen economic and commercial ties as Ukrainian authorities and the international community attempt to cope with Russia’s military intervention in the Crimean peninsula. A State Department press release indicates, among other things, that the Department of Commerce will organize a U.S.-Ukraine business summit in Washington, D.C., that will bring together senior-level officials, U.S. companies with investments in Ukraine, and leading economic and legal experts on the Ukrainian market to discuss how to increase economic growth in Ukraine and deepen bilateral commercial ties.
The DOC will also work together with the State Department and the Office of the U.S. Trade Representative to develop an innovation council that will focus on creating the necessary ecosystem to accelerate entrepreneurship and develop the legal culture and infrastructure for innovation in Ukraine. In addition, a senior-level DOC delegation will travel to Kyiv to conduct relationship-building with key Ukrainian officials in an effort to streamline future bilateral work on market access cases, pending investments, and means for addressing systemic issues affecting U.S.-Ukrainian relations. Finally, the two sides will hold a meeting of the bilateral Trade and Investment Council to address barriers to trade and investment and explore expanding commercial linkages.