Trade agreement with United States to be effective tool of geoeconomics – Petrashko

Trade agreement with United States to be effective tool of geoeconomics – Petrashko

The conclusion of a bilateral preferential trade agreement between Ukraine and the United States can become an effective tool of geoeconomics, providing increased global competition in trade.

Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko said this during a conversation with United States Trade Representative Katherine Tai on May 11, the Government portal reports.

"Strategic partnership with the United States is crucial for Ukraine. In trade and economic relations, we have clear priorities and a transparent action plan. This includes the removal of barriers to trade in metal products, as well as the intensification of cooperation through the conclusion of a bilateral preferential trade agreement. For both the United States and Ukraine, the agreement would be an effective tool of geoeconomics, ensuring the strengthening of global competition in trade," he said.

The parties also discussed such important issues as the protection of intellectual property rights, development of legislation on public procurement, and climate transformation in trade. A separate topic of conversation was the decision on opening public access to the COVID-19 vaccine formula.

"We are ready to engage in an active dialogue and agree on a strategic partnership with American vaccine manufacturers. Meanwhile, we must provide relevant facilities for the production of these vaccines in our country," the minister stressed.


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