Ukraine and the US are preparing to sign a cooperation agreement in the field of minerals. Prime Minister Denis Shmigal said the document could be concluded in the near future, perhaps even during the day.
According to him, the first Viceremier Yulia Sviridenko is currently in Washington, where, together with American partners, he is final technical details of the agreement. The Government of Ukraine has already agreed the text of the document in all profile ministries and is ready for its approval immediately after the consultation with the US side.
The agreement provides for the establishment of an investment fund in Ukraine. Each parties - Ukraine and the US - will have three representatives in the Fund Management and equal share of contributions. Financing will be done in cash. The US will be able to enroll new military assistance as a contribution to the Fund.
Ukraine reserves control of all resources, including subsoil, infrastructure and natural resources. The contribution of our country will be formed at the expense of new licenses and rentals.
The fund will work for ten years. Its purpose is to support the development and restoration of the Ukrainian economy - both through the creation of enterprises and through the purchase of Ukrainian products. The profits after the expiration of this term can be distributed by agreement of the parties.
Participants of the agreement are exempt from taxes and duties in the framework of the implementation of projects carried out by means of the Fund. All disputes will be resolved by mutual consultations. The document also involves the involvement of other international partners and private business with US support.
The Prime Minister stressed that no assistance provided to Ukraine at the time of signing the agreement falls under its effect. At the same time, the agreement does not contradict the course for European integration and will not affect the process of Ukraine's accession to the European Union.
