Ukraine’s PM reveals plans for landmark geological exploration pact with Canada
Photo: Ukraine's Prime Minister Yulia Svyrydenko (Vitalii Nosach, RBC-Ukraine)
By the end of the year, Ukraine plans to adopt an industrial strategy and sign a geological exploration agreement with Canada. These measures are expected to signal opportunities for the private sector and pave the way for major investments in critical economic sectors, reports Prime Minister of Ukraine Yulia Svyrydenko.
Svyrydenko expressed gratitude to Prime Minister of Canada Mark Carney for supporting Ukraine and for his symbolic visit on Independence Day.
"Our priority is maintaining macrofinancial stability. This fall, we need to prepare a new multi-year program with the IMF. It will reflect the realities of the war and Ukraine’s defense needs," she emphasized.
The Prime Minister said that the readiness of businesses to invest is a true indicator of effective security guarantees.
"Ukraine is open to capital. Our priority is attracting foreign direct investment and developing critical supply chains. Ukraine needs one or two landmark deals that will signal opportunities to the private sector, particularly in LNG, gas infrastructure, or new resource development," Svyrydenko added.
She stressed that the government plans to adopt the industrial strategy and sign the geological exploration agreement with Canada this fall.
Svyrydenko also said that during her meeting with Carney, she called on Canada to extend war risk insurance to investments, as France and Poland do. She suggested exploring a government-to-government agreement to support companies investing in Ukraine’s reconstruction.
She invited Canadian partners to participate in the Ukraine Mine Action Conference in Tokyo and Rebuild Ukraine, where joint projects could be announced.
The discussion also covered support for veterans.
"Ukraine, together with Canada, is developing mental health programs and working on mobile prosthetics units. We agreed with Canadian partners to develop veteran spaces in the regions," she said.
Svyrydenko also addressed sanctions on Russia.
"Sanctions have already cost Russia over $160 billion. But that is not enough — Russia continues producing missiles and drones. We called for increased pressure. Coordination among partners makes sanctions truly effective," the Prime Minister explained.
Carney's visit to Ukraine
On August 24, Ukraine’s Independence Day, Prime Minister of Canada Mark Carney arrived in Kyiv for the first time. During his visit, he confirmed Canada's intention to strengthen support for Ukraine.
While in the capital, Carney met with President Volodymyr Zelenskyy, Prime Minister Yulia Svyrydenko, and members of the government. He also announced a new support package from Canada.
RBC-Ukraine reported that the new aid package includes not only air defense systems and drones but also other forms of support.
In addition, the President's office noted that Ukraine and Canada officially began implementing an action plan under their security cooperation agreement, covering several areas of collaboration.
More details are available in RBC-Ukraine's report.
