Conference on recovery of Ukraine: PM of Japan announced new bilateral tax agreement
Photo: Prime Ministers of Ukraine and Japan Denys Shmyhal and Fumio Kishida (screenshot from the video)
On Monday, February 19th, Japanese Prime Minister Fumio Kishida announced the intention of the state to conclude an agreement with Ukraine on the avoidance of double taxation. Additionally, the parties will commence negotiations regarding the revision of the investment agreement, which will enable Japanese companies to participate in reconstruction projects in Ukraine, according to Kyodo and Reuters.
At the Tokyo Japanese-Ukrainian conference on promoting economic growth and reconstruction, Kishida stated that assistance to Kyiv in rebuilding is an "investment in the future."
He pledged to continue providing support in the reconstruction of Ukraine, which has suffered from widespread military aggression by Russia, drawing on Japan's experience in reconstruction after earthquakes.
Additionally, Kishida promised support for Japanese businesses participating in aid for the Ukrainian side.
Ukrainian Prime Minister Denys Shmyhal attended the event in Tokyo, and the official noted that the meeting opens a new chapter in Japanese-Ukrainian relations.
Additionally, Shmyhal expressed hope that major automakers, including Toyota, would establish production facilities in Ukraine.
During the reconstruction discussion, Kishida stated that Japan would support venture companies in Ukraine, pledged to streamline visa controls, and announced that the government agency JETRO would open a new office in Kyiv.
It is noted that during today's conference, approximately 50 Japanese companies entered into agreements with Ukrainian counterparts in areas such as agriculture, energy, and infrastructure. The total value of these agreements is currently undisclosed.
Furthermore, according to the Ministry of Foreign Affairs of Japan, as part of efforts to encourage investments and support companies doing business in Ukraine, Tokyo has eased travel restrictions.
Overall, the current Ukrainian-Japanese conference in Tokyo is being attended by approximately 300 government and corporate officials from both countries.
Support for Ukraine from Japan
Earlier, it was reported that Japan's Minister of Foreign Affairs, Yoko, expressed the country's intention to mobilize support from the private sector for the ongoing long-term assistance to Ukraine.
In February, the Ukrainian Ministry of Finance announced that the national budget received a grant of $49.4 million from the Japanese government as part of the World Bank project Housing Restoration for Restoring Rights and Opportunities of People (HOPE).
It's worth noting that in January, Japan was essentially the only country that provided Ukraine with a credit of $387 million.
In mid-February, it was also revealed that the Japanese government is considering easing travel restrictions for companies that are contributing to the reconstruction efforts in Ukraine.
