World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


U.S.-Ukraine Economic and Finance Working Group

U.S.-Ukraine Economic and Finance Working Group

Media Note
Office of the Spokesperson
Washington, DC
April 12, 2014

________________________________________
Yesterday, Under Secretary of State for Economic Growth, Energy and the Environment Catherine Novelli met with Ukrainian Central Bank Governor Stepan Kubiv, Minister of Finance Oleksandr Shlapak, and Minister of Economic Development and Trade Pavlo Sheremeta to discuss a range of strategic and economic issues. Under Secretary Novelli and the Ukrainian delegation were joined by senior U.S. officials from the National Security Council, the U.S. Department of the Treasury, the Office of the United States Trade Representative, the U.S. Agency for International Development, the U.S. Trade and Development Agency (TDA), the Export-Import Bank (Ex-Im Bank) of the United States, the Overseas Private Investment Corporation (OPIC), and the U.S. Department of Commerce.

The working group discussed ways of moving President Obama and Prime Minister Yatsenyuk’s economic agenda forward, focusing on U.S. assistance efforts, increasing bilateral trade and investment flows, combating corruption, and carrying out economic reforms. Under Secretary Novelli commended Ministers Kubiv, Sheremeta, and Shlapak for the reforms the Ukrainian Government and parliament had already begun, citing the Rada’s recent passage of the two anti-corruption measures, an information law, and a procurement law, all demonstrating to the international community Ukraine’s commitment to reform.

Under Secretary Novelli and Minister Sheremeta then discussed Ukraine’s IMF Program and the U.S. Government’s recently approved $1 billion loan guarantee program. In the context of these programs, both sides agreed to re-double efforts to get the Ukrainian economy on stable footing while implementing policies to establish the rule of law, transparency, and good procurement practices.

The two sides then reviewed ways in which the Ukrainian Government could improve Ukraine’s business environment in order to attract greater U.S. and global investment. Highlights of that discussion included the U.S. Department of Commerce’s efforts to organize a “Business Summit,” chaired by Secretary of Commerce Penny Pritzker, as well as OPIC President and CEO Elizabeth Littlefield’s description of OPIC programs and projects to mitigate risk. Director of the U.S. Trade and Development Agency Leocadia Zak and Ex-Im Bank Chief Banking Officer and Senior Vice President of Export Finance Claudia Slacik also outlined an extensive set of tools and mechanisms within the U.S. Government that might help increase project financing and development, and accelerate private sector partnership creation.

Lastly, participants discussed trade issues, with Minister Sheremeta outlining Ukraine’s proposed one-way preferential access to the EU market starting May 1, and Deputy Assistant U.S. Trade Representative Betsy Hafner proposing various ways in which Ukraine and the United States might cooperate more closely on trade.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

As Health Needs Rise In Somalia, Funding Hits New Low

As health needs rise in Somalia, funding hits new low, cutting off 1.5 million from care – UN More>>

Need To End Violence Against Children In Conflict

‘We should be outraged’ more not being done to end violence against children in conflict – UNICEF chief More>>

On Mandela Day, UN Joins Call To Promote Community Service

Nelson Mandela, then Deputy President of the African National Congress of South Africa, raises his fist in the air while addressing the Special Committee Against Apartheid in the General Assembly Hall. UN Photo/P. Sudhakaran More>>

Some $3.2 Billion Needed For Ebola Recovery Efforts

Some $3.2 billion needed for Ebola recovery efforts in Guinea, Liberia and Sierra Leone – UN More>>

World Day: UN Spotlights Plight Of Vulnerable Populalations

Syrian refugees fleeing the fighting near the Syrian city of Kobani wait in a holding area before boarding buses in Turkey (September 2014). Photo: UNHCR /I. Prickett More>>

Afghanisatan: Direct Talks Between Government And Taliban

The United Nations Security Council has welcomed the recently held direct talks between Afghan Government and Taliban representatives as a step towards “peace and reconciliation” in the region. More>>

Eradicating World Hunger By 2030

Agriculture workers collect carrots on a farm in Chimaltenango, Guatemala. Photo: World Bank/Maria Fleischmann More>>

Bangladesh: Flood Leads To UN Agency Providing Food Relief

Anwar Hossain unloads cartons of High Energy Biscuits from a pickup truck and transfers them to a distribution center in Kawar Khop union, Ramu upazila, Cox’s Bazar, Bangladesh. Photo: WFP/Kamrul Mithon More>>

Ban Says World Must Act Now To Curb Climate Change

Alarmed by melting glacier in Norway, Ban says world must 'act now' to curb climate change More>>

UN Spotlights Data And Technology As Key To Sustainability

The importance of quality data and cutting edge information communication technologies (ICTs) is increasingly critical to the shaping of the future sustainable development agenda, the head of the United Nations Development Programme ( UNDP ) confirmed today. More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news