Volodymyr Zelenskyy, the President of Ukraine, addressed Donald Trump, the President of the United States, with an initiative to establish free trade between Ukraine and the United States. This information was announced by Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine, during the event “Trade Wars: The Art of Defense.”
Kachka noted that Ukraine aims to conclude a free trade agreement with the US, despite the fact that this country is not Ukraine’s main trading partner. “We are interested in free trade agreements with all G7 countries. We already have agreements with the United Kingdom, Canada, and the European Union, and now we need the US and Japan,” he emphasized.
He also highlighted the importance for Ukrainian producers to develop strategies for entering international markets that are more developed and have higher quality standards. “This allows for creating greater added value and profitability. Therefore, it is important for us to have the opportunity to export to the US and conclude a free trade agreement,” Kachka added.
Additionally, he reported that the investment fund established between Ukraine and the US will promote the development of the free trade market. “The implementation of the fund idea is only possible with a free trade agreement that regulates not only tariffs but also ensures transparency and predictability of the regulatory environment,” explained the deputy minister.
In early May, Ukraine and the US signed a strategic agreement to create an Investment Fund for Reconstruction and Partnership in the field of critical minerals, covering 57 minerals. This document, signed in Washington, sets the political framework for cooperation, with details to be defined in subsequent technical agreements.
Donald Trump stated that this agreement will protect US investments and financial aid provided by Washington to Ukraine, and may also contribute to ending Russia’s war against Ukraine. US Secretary of State Marco Rubio described the agreement as “a step toward ending the war.”
Zelenskyy emphasized that the economic partnership agreement between Ukraine and the US is a practical outcome of negotiations with Trump in the Vatican. On May 8, the Verkhovna Rada ratified the subsoil agreement between the two countries.
Prior to this, the parliamentary committee on foreign policy voted again to bring the ratification of the agreement to the Verkhovna Rada, adding an amendment stating that the members of parliament did not have access to the text of the two technical agreements and are not responsible for them. These technical agreements relate to the creation of the investment fund and do not require parliamentary ratification.
The Ministry of Economy of Ukraine hopes that the fund will begin operating in the coming weeks. On May 12, President Zelenskyy signed the law ratifying the subsoil agreement between the governments of Ukraine and the US.
