Vice Prime Minister: Opening of JICA and JETRO offices in Ukraine will enhance cooperation with Japanese investors
OREANDA-NEWS. April 11, 2016. The opening of offices of the Japan International Cooperation Agency (JICA) and the Japan External Trade Organization (JETRO) in Ukraine will allow to strengthen collaboration with Japanese investors and to simplify the implementation of major joint projects. This was stated by Vice Prime Minister/Minister of Regional Development, Construction, Housing and Utilities of Ukraine Hennadii Zubko on the outcomes of a visit of the Ukrainian delegation to Japan headed by President Petro Poroshenko.
According to him, Ukraine is engaged in discussing with the Japan Business Federation KEIDANREN an opportunity to open offices of these Japan organizations in Kyiv. In particular, the JICA office will be a kind of "a single window" that will afford to intensify monitoring of new infrastructure projects and technologically complicated energy efficiency projects. For example, it will enable to accelerate the implementation of the project for reconstruction of Bortnychi aeration station.
"The JETRO will facilitate the establishment of closer contact between Japanese business and local self-government authorities in Ukraine. And this is a big step towards decentralization. The united territorial communities will get a single window thus allowing them to obtain all the information about possibilities of cooperation with Japanese investors", said Hennadii Zubko.
According to the Vice-Prime Minister, the JETRO office in Ukraine will become a hub to promote both the interests of Ukrainian and Japanese businesses . Domestic companies will not have to go to Japan to learn about current cooperation chances and priority projects and to maintain ties with entrepreneurs from Japan.
Hennadii Zubko added that the opening of the JETRO and JICA offices would afford to attract Japanese technologies and to accompany the shipment of goods produced under the Japanese brand in Ukraine.
The Japan International Cooperation Agency (JICA) is a government agency which operates in over 150 countries and has around 100 offices globally. In October 2008 the Agency merged with the Department of foreign economic cooperation of the Japan Bank for International Cooperation (JBIC), becoming one of the world's largest bilateral development agencies. The JICA aims to contribute to the promotion of international cooperation as well as the sound development of Japanese and global economy by supporting the socioeconomic development, recovery or economic stability of developing regions.
JETRO, or the Japan External Trade Organization, is a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world. Originally established in 1958 to promote Japanese exports abroad, JETRO's core focus in the 21st century has shifted toward promoting foreign direct investment into Japan and helping small to medium size Japanese firms maximize their global export potential.
KEIDANREN (Japan Business Federation) is a comprehensive economic organization with a membership comprised of 1,329 representative companies of Japan, 109 nationwide industrial associations and 47 regional economic organizations (as of June 2, 2015).