The U.S. and Ukranian governments concluded cooperation agreement last week to help boost trade and investment between the countries.
“We expect this agreement to provide a solid foundation for discussion of the full range of trade and investment issues,” said U.S. Trade Representative Susan Schwab in a statement.
The Trade and Investment Cooperation Agreement (TICA) allows for the formation of a joint U.S.-Ukraine Council on Trade and Investment, which will address a range of trade and investment issues including market access, intellectual property, labor and environmental issues.
According to the Office of the U.S. Trade Representative, industrial goods trade between the United States and Ukraine totaled $2.6 billion in 2007.
U.S. goods exports to the Ukraine in 2007 were $1.3 billion, up 77.4 percent ($585 million) from 2006, while U.S. goods imports from the Ukraine totaled $1.2 billion last year, a 25.6 percent decrease ($419 million) from 2006. U.S. foreign direct investment in the Ukraine was $1.44 billion as of Jan. 1.
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