Ukraine and the EC Agreed on a Strategic Partnership in the Raw Materials Industry

Tuesday, July 13, 2021
Ukraine and the EC Agreed on a Strategic Partnership in the Raw Materials Industry

Representatives of Ukraine and the European Commission signed a "Memorandum of strategic partnership in the raw materials industry"

Ukraine and the European Union have signed a Memorandum of Strategic Partnership in the raw materials industry and a corresponding roadmap of events, the press service of the governement reports.

The document was signed by prime minister Denis Shmygal and EC vice president Maros Sefchovic on July 13.

“By initiating a strategic partnership with the EU in the field of critical raw materials, which will be enshrined in the Memorandum of Understanding and the Roadmap for Events, we agree to join our efforts and work together with the EU to develop a green economy, create new business opportunities and jobs,” the prime minister said.

The vice president of the European Commission stressed that today Ukraine and the EU are opening a new page in bilateral partnership.

“The European Union will support Ukraine at every step. Strategic partnership in the raw materials industry is an important stage in this movement, because critical raw materials, in particular, taking into account decarbonization, have great potential in Ukraine,” Shefchovich said.

The head of government stressed that the Ukrainian industry can become a serious partner for European companies.

“By increasing our own production of “minerals of the future ”and fuel and energy minerals, increasing exports, as well as reducing imports of mineral raw materials, the potential for the effective use of Ukraine's subsoil can reach more than $400 billion in the next 10 years," Shmygal said.

The prime minister added that the complex development of critical materials can attract $10 billion of investments to Ukraine already at the first stage.

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