You're reading: Kharkiv regional administration, American Chamber of Commerce in Ukraine sign memorandum of cooperation

Kharkiv - Kharkiv Regional Administration and the American Chamber of Commerce in Ukraine have signed a memorandum of cooperation.

An Interfax-Ukraine correspondent has reported that the signing ceremony was held as a part of the Investments. Innovations. Kharkiv Initiatives! international economic forum held on Sept. 5.

Kharkiv Regional Administration Head Ihor Baluta and President of the American Chamber of Commerce in Ukraine Bernard Casey signed the document.

“The memo is intended to unite efforts aimed at improving the investment climate and forming a positive international investment image of Kharkiv region and Ukraine in general… The memo takes effect on the day of its signing and it is in effect during three years, with the possibility of prolonging it for the same period by the mutual agreement of the parties.

Casey said that the memo expands the base of cooperation for the signatories.

The memorandum signed expands the base of our cooperation, of our companies with enterprises in Kharkiv Oblast. Kharkiv Oblast will be included in all initiatives that we propose from the point of view of economic reforms. We plan to conduct more research work in the IT area and conduct outsourcing. We will also work in the aerospace sector. We’ll increase the attractiveness of Kharkiv Oblast from the point of view of capital investment, Casey said.

Baluta said that in the near term it is planned to sign the agreement of cooperation between the regional administration and the European Business Association (EBA).

“We’re also studying practical steps of joining to the PLATFORMA – a European platform of local and regional authorities for development. It is supported by the European Commission and provides for coordination of local initiatives with European institutions responsible for the development policy,” Baluta said.