Business news from Ukraine

Business news from Ukraine

Ukraine and Iceland sign security agreement

President of Ukraine Volodymyr Zelenskyy and Prime Minister of Iceland Bjarni Benediktsson signed an agreement on security cooperation and long-term support in Stockholm, the press service of the Ukrainian president reports.

“Iceland has committed itself to providing comprehensive and long-term economic, humanitarian and defense support to Ukraine, as well as to facilitate its future membership in the EU and NATO. During 2024-2028, Iceland will annually allocate at least 4 billion ISK (about $30 million). Support for Ukraine will continue throughout the term of the agreement. Iceland is ready to finance, purchase and supply defense materials and equipment. In addition, it is ready to cooperate with Ukraine in the development of its defense industry,” the statement said.

It is noted that the uniqueness of the agreement lies in the fact that Iceland undertakes to continue to transport military supplies and equipment from NATO allies to Ukraine by chartered cargo aircraft. In addition, Iceland will pay special attention to supporting and equipping Ukrainian women in the Armed Forces of Ukraine.

Separate sections of the agreement relate to support for the Ukrainian peace formula, sanctions against Russia, compensation for damages, and bringing the aggressor to justice. The agreement also provides for the strengthening of social and civilian infrastructure, particularly in the areas of education and energy security.

Iceland also pledges to strengthen its diplomatic mission in Kyiv to deepen cooperation with government agencies, parliament, civil society, and the private sector in Ukraine.

The text of the agreement is published on the website of the President of Ukraine.

Ukraine and Iceland signed an agreement to implement the G7 Vilnius Declaration, which was adopted on July 12, 2023.

In total, Ukraine has signed 14 bilateral security agreements: with the United Kingdom, Germany, France, Denmark, Canada, Italy, the Netherlands, Finland, Latvia, Spain, Belgium, Portugal, Sweden, and Iceland.

Ukraine’s national soccer team has defeated Iceland and qualified for Euro 2024

Ukrainian President Volodymyr Zelensky has congratulated the Ukrainian national soccer team on its 2-1 victory against Iceland and qualification for the Euro 2024 Championship.

“Thank you, guys! Thank you, national team! For the most important emotions for the whole country. For the super important victory and exit to the Euro,” Zelensky wrote in Telegram on Wednesday night.

He noted that with this victory the Ukrainian national team “once again proved: when Ukrainians have a hard time, but they do not give up and continue to fight, then Ukrainians are sure to win.”

“In times when they want to destroy us every day, we prove every day: Ukrainians are and will be! Ukraine is and will be! Thank you for the victory!” – summarized the President.

The Ukraine-Iceland game was held in Wroclaw, Poland.

At the beginning of the game Ukraine had an advantage in possession of the ball, but the first half hour of the game ended with a goal by Iceland.

Ukraine restored parity in the 54th minute. Viktor Tsygankov struck the bottom corner of the goal – 1:1. The second goal was scored by Mykhailo Mudryk in the 84th minute.

The other two last two tickets to the final part of Euro 2024 were won by Georgia and Poland in penalty shootouts on Tuesday.

Ukraine will play its first match at the tournament in Munich on June 17 against Romania. The opponents in Group E will also be Slovakia and Belgium, with whom the Ukrainian team will play on June 21 and 26 in Düsseldorf and Stuttgart, respectively.

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Iceland will hand over field hospital for Ukrainian military

The Icelandic Parliament has supported the proposal to transfer a field hospital for the Ukrainian military, Prime Minister of Iceland Katrin Jacobsdottir said.
“All parties in the Icelandic parliament have united in a proposal for Iceland to hand over a field hospital to Ukraine,” she tweeted Monday.
“We remain committed to supporting the Ukrainian people: this gesture is a symbol of our continued solidarity,” summarized Katrin Jacobsdottir.

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Iceland to continue to support Ukraine – joint declaration

President of Ukraine Volodymyr Zelenskyy and Prime Minister of Iceland Katrín Jakobsdóttir signed a joint declaration during her working visit to Kyiv, the presidential press service has said.
According to the document, the leaders reaffirm their support for the principles of international law, the inviolability of borders, and their demand for Russia immediately, completely and unconditionally withdraw all its military forces from the territory of Ukraine within its internationally recognized borders.
The President of Ukraine and the Prime Minister of Iceland remain fully committed to the policy of non-recognition of Russia’s illegal annexation of the territories of Ukraine, and also call for the immediate release of all abducted civilians, including children, and all those who were forcibly transferred to the territory of Russia.
The declaration notes the importance of Ukraine’s consistent efforts of continuing the Black Sea Grain Initiative and the Grain from Ukraine humanitarian program, Ukraine’s sovereign decision to guide the peace process and convene a global peace summit when conditions permit, and commitment to NATO’s Open Door Policy.
Condemning in the strongest possible terms Russia’s full-scale military invasion of Ukraine, Zelenskyy and Jakobsdóttir declare that Iceland fully subscribes to the European Union sanctions imposed against Russia in response to military aggression against Ukraine.
In turn, Ukraine highly appreciates all the help from Iceland.
It is noted that Iceland will continue to provide effective political, economic and humanitarian support to Ukraine and its defense capability. Iceland will assist in the recovery and rapid recovery of Ukraine, especially in the energy sector. Iceland will support Ukraine for as long as it takes.
Iceland and Ukraine will continue to work together, and with others within multilateral organizations, to ensure accountability, including through the establishment of special tribunal for the crime of aggression and a register of damages to record and document evidence and claims for damage, loss or injury as a result of Russia’s aggression against Ukraine, as a first step in setting up a comprehensive reparation mechanism.

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UKRAINE WORKING ON TRADE LIBERALIZATION WITH CANADA, AUSTRALIA, SWITZERLAND, NORWAY, ICELAND, LIECHTENSTEIN

The Ukrainian delegation during the WTO ministerial conference held about two dozen bilateral talks on possible trade liberalization and removal of existing barriers, in particular, in trade in agricultural products, Deputy Economy Minister – Trade Representative of Ukraine Taras Kachka said.
“The main conclusion is that the world believes in Ukraine and is ready to open markets for Ukrainian products. This means that the world believes in our victory over the aggressor,” he wrote on Facebook after the conference.
Kachka also said that Ukraine has sent a request to the European Free Trade Association (Switzerland, Norway, Iceland, Liechtenstein) to update the free trade agreement, and it will be considered next week within the framework of the EFTA institute.
According to the trade representative, he discussed further steps to liberalize trade, having carried out preparatory work right at the conference, with Canadian Minister of International Trade Mary Ng.
Kachka added that he agreed with the Minister of Trade of Australia in a few days after the conference to discuss in detail the possibilities of liberalizing bilateral trade (GSP and FTA).
The Ukrainian trade representative also said that he had discussed the conclusion of an agreement on digital trade with UK Secretary for International Trade Anne-Marie Trevelyan.
“The same issue – trade liberalization and digital trade – were relevant in a conversation with the Minister of Trade of Singapore. Singapore is ready to become a hub for trade in Ukrainian products in Asia,” Kachka added.
According to him, at a meeting with the Minister of Trade of Senegal, he emphasized that Ukraine is doing everything to increase exports and feed Africa.
“Senegal is chairing the African Union this year and their understanding of the true causes of food problems is very important,” the Ukrainian trade representative said.

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UKRAINE APPROVES DRAFT AGREEMENT WITH SINGAPORE AND ICELAND ON AIR TRAFFIC

The Cabinet of Ministers of Ukraine has approved a draft intergovernmental agreement with the Republic of Singapore and Iceland on air traffic.
According to the relevant government decrees, the Cabinet of Ministers authorized Chairman of the State Aviation Administration of Ukraine Oleksandr Bilchuk to sign the relevant agreement.
According to the explanatory documents, this decree is provided by the need to conclude intergovernmental agreements on air services with these countries, which makes it possible to create a contractual legal framework necessary for the implementation of regular air traffic between these countries and Ukraine. This will intensify bilateral cultural ties, as well as economic relations between the countries, the government authorities said in the documents.
The agreement will determine the procedure for regulating international flights, the procedure for appointing airlines on the routes, provides for the mutual recognition of crew member certificates and others.

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