Ukraine Guarantees Investment Protection from Israel

by Vladyslava Zhabrovets
Friday, October 15, 2021

Ukrainian president Volodymyr Zelenskyy claims Ukraine is waiting for the arrival of investors from Israel and guarantees the safety of their investments

"Ukraine is waiting for Israeli investors, and the government and I personally guarantee the protection of all their investments. In addition, Ukraine is interested in studying and using Israel's significant experience in the field of innovation," Zelenskyy said during joint statements with Israeli president Isaac Herzog to the media.

He added that Israeli companies, in turn, can use Ukraine's colossal potential as a new technological European hub.

Zelenskyy noted that today the volume of direct Israeli investments in Ukraine does not meet the potential of the two countries.

"New technologies, innovations, cybersecurity, healthcare, pharmaceuticals, space programs, banking, finance, construction, agriculture are just some promising areas for the development of investment cooperation between Ukraine and Israel," the president of Ukraine said.

Zelenskyy also said that the free trade agreement between Ukraine and Israel opens up new opportunities for strengthening bilateral economic interaction. The countries intend to increase trade volumes to the level that was before the spread of COVID-19.

The agreement on the creation of a free trade zone with Israel entered into force on January 1, 2021.

"[...] This is a new level of relations between the countries and a green light for increasing Ukrainian exports, closer cooperation in the areas of high-tech, engineering, development of investment cooperation," Zelenskyy commented on the event.

Under the agreement on a free trade zone, Israel abolished about 80% of import duties for Ukrainian industrial goods and more than 9% for the agricultural sector.

On the other hand, Ukraine abolished about 70% of duties for the Israeli production industry and more than 6% for the agricultural sector.

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