Shmyhal invites Italian business to invest in Ukrainian economy

Shmyhal invites Italian business to invest in Ukrainian economy

Prime Minister of Ukraine Denys Shmyhal and Minister of Foreign Affairs and International Cooperation of the Italian Republic Luigi Di Maio discussed topical issues of trade, economic and investment cooperation, as well as cooperation in the field of energy and infrastructure.

They held a meeting in Kyiv on June 10, the Government portal reports.

Shmyhal stressed that Ukraine will kick off the process of privatization of large state-owned enterprises this year and invited representatives of Italian business to participate in tenders.

"The auctions have demonstrated a great interest from foreign investors, so that the process of large and small privatization can be interesting for the further development of business in Ukraine," he said.

The head of the Ukrainian government also noted positive trends in trade between Ukraine and Italy. According to the PM, the turnover for the first five months of 2021 increased by 39.2% and amounted to USD 2.1 billion.

"Ukraine is ready to offer Italian business the benefits of the Deep and Comprehensive Free Trade Area between Ukraine and the EU, in particular in the format of industrial cooperation, including the implementation of joint production projects," he stressed.

Moreover, the sides voiced issues of cooperation in the agricultural and energy sectors.

"The European green course is one of our government’s priorities. We are keen on the joint efforts targeted at achieving the goals of the Grean Deal, and are interested in the development of alternative energy technologies, " the PM noted.

Among other things, Shmyhal invited Italian companies to cooperate in the field of gas production.

Apart from that, the parties touched upon cooperation in infrastructure projects, in particular on the development of the railway.

For his part, Luigi Di Maio stressed that Italy fully supports Ukraine's European aspirations and the implementation of reforms, including agrarian, anti-corruption, and judicial ones.

Shmyhal thanked Italy for its continued support for Ukraine’s sovereignty and territorial integrity, as well as for Ukraine’s aspirations towards the EU and NATO integration.

Italian Foreign Minister Luigi Di Maio was on an official visit to Ukraine on June 10.

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