Start of Free Trade Negotiations with Japan

by Meifan Honcharuk
Friday, December 3, 2021
2 MIN
Start of Free Trade Negotiations with Japan

Ukraine looks forward to starting negotiations on a free trade agreement and updating the convention to avoid double taxation

The ambassador of Ukraine in Japan, Korsunskyi Serhii, emphasized that the critical aspect is the economy of Ukraine, which creates the basis for the political leaders of Japan to have an interest in developing a security component with Ukraine. Korsunskyi has been discussing the economics context for four months with all Japanese government and parliament representatives. There have already been several dozen such meetings - this is the beginning of negotiations on a free trade agreement. This is an update of the convention on the avoidance of double taxation.

The ambassador recalled that the double taxation convention has been in force since 1986. A draft of a new convention has already been submitted to the Japanese side. The diplomat expects that consultations on this matter will be completed quickly enough.

Visa-free regime with Japan

Besides that, Korsunskyi Serhii is also planning negotiations on a visa-free regime and strengthening cooperation in the field of security. He believes that both sides should discuss a visa-free regime and intensify cooperation in security, cybersecurity, and military-technical cooperation.

Space cooperation

Korsunskyi also spoke about potential cooperation between Ukraine and Japan in the space industry. As for space, there has not been any cooperation between the two countries yet. But special meetings with the head of the Japanese Space agency have already been held, where Ukraine and Japan discussed cooperation opportunities.

Investments in Japan

At the same time, the ambassador recalled that according to official statistics, the volume of investments in Japan is $170 million. The diplomat noted that Japan works in Ukraine through the representations of six powerful transnational corporations. Therefore, the actual volume of investments is higher.

 

You will be interested