Supporting Allies Through Trade: U.S. & Ukrainian Leaders Sign Memorandum of Understanding on Commercial Cooperation
WASHINGTON – On Wednesday, U.S. Secretary of Commerce Gina Raimondo met with Ukrainian First Deputy Prime Minister and Minister of Economy Oleksiy Lyubchenko in Washington, DC to sign a memorandum of understanding (MOU) outlining areas of renewed cooperation on trade.
The MOU also notes U.S. support for Ukrainian efforts to improve its business and investment climate, which could help to increase U.S.-Ukraine commercial ties. The specific measures include intensifying Ukraine’s fight against corruption, increasing the effectiveness and independence of the court system, strengthening intellectual property rights protections, and implementing corporate governance reforms.
As envisioned in the MOU, both nations will collaborate on Ukraine’s economic transformation in promising sectors for trade, including infrastructure, agriculture, defense, health care and the digital economy, industries affecting Ukraine’s energy transition and decarbonization efforts.
“With the right policy conditions in place, there is significantly greater potential and opportunity for increased commercial engagement between the U.S. and Ukraine,” Secretary Raimondo said. “Signing this Memorandum of Understanding helps to set the directions for growing our relationship.”
First Deputy Prime Minister Lyubchenko is visiting Washington, DC this week as part of Ukrainian President Volodymyr Zelenskyy’s delegation. On September 1, U.S. President Joseph R. Biden met with President Zelenskyy at the White House.
About the International Trade Administration
The International Trade Administration (ITA) at the U.S. Department of Commerce is the premier resource for American companies competing in the global marketplace. ITA has more than 2,200 employees assisting U.S. exporters in more than 100 U.S. cities and 75 markets worldwide. For more information on ITA visit www.trade.gov.