OREANDA-NEWS. On November 10, 2008 a Memorandum on mutual understanding between the Government of Ukraine and the Government of the United States of America was signed, which lays the foundation for recommencing operating in Ukraine the state US corporation of investment guarantee Overseas Private Investment Corporation – OPIC.

On behalf of the Government the Memorandum was inked by Economics Minister of Ukraine Bohdan Danylyshyn, while on behalf of the US Government – Extraordinary and Plenipotentiary Ambassador of the United States of America to Ukraine William Taylor.

“Ukraine views the United States of America as one of the mainstream economic partners and ranks 11th on the amount of trade turnover among the partner countries,” Economics Minister Bohdan Danylyshyn stressed.

On the amount of direct investments attracted into Ukraine’s economy the United States ranks 7th among the world countries investing into Ukrainian economy. Over 1500 enterprises with American capital are operating on the territory of Ukraine.

The head of economic department underlined that the Ukrainian party hails plans of the Government of the United States of America in terms of further cooperation, drawing of investments, advanced technologies and administration experience.

However, growth of volumes of private investment resources into Ukraine’s economy has been restrained due to the absence of Overseas Private Investment Corporation on the market of Ukraine.

OPIC has terminated its activity on the territory of Ukraine in connection with payment of insurance coverage to Alliant Techsystems (USA).

In view the issue has remained undetermined for over 10 years the Governments of Ukraine and the USA have expressed their good will to accompany regulating of an argument between the two economy subjects of OPIK and CJSC Allaint Kyiv.

Signing of the Memorandum on mutual understanding between the Government of Ukraine and the Government of the United States of America will be the first step towards implementation of the events in terms of practical introducing of mechanisms of settlement of vexed questions concerning OPIK”.

“Nowadays Ukraine is concerned in further attracting private American investments which will insure their risks in OPIK,” Economics Minister of Ukraine Bohdan Danylyshyn summed up.

In his turn US Ambassador William Taylor responded that signing of the Memorandum appears an important step in the direction of returning OPIK Corporation to Ukraine and a significant sign that the United States of America trust in Ukraine and Ukrainian economy.

“Returning of OPIK together with the IMF support package and other positive economic steps, notably recent approving of Law about auctioneer associations, is a proof that Ukraine is capable to take measures in order to improve economic and investment climate,” William Taylor emphasized.