Ukraine's Verkhovna Rada ratifies Latvia-Ukraine technical and financial cooperation agreement

  • 2024-04-11
  • LETA/TBT Staff

RIGA - Ukraine's Verkhovna Rada on Wednesday ratified a Latvian-Ukrainian intergovernmental agreement on technical and financial cooperation, LETA was told at the Latvian Foreign Ministry. 

The Agreement on Technical and Financial Cooperation between the Government of Latvia and the Cabinet of Ministers of Ukraine provides the legal framework for the implementation of development cooperation programs and reconstruction projects by Latvia in Ukraine; it will also facilitate the provision of technical and financial assistance to Ukraine, the ministry said. 

The agreement envisages various advantages for the implementers of reconstruction projects, for instance, goods and services imported under the technical and financial assistance projects will be exempt from taxes, licences for temporary import of goods will be issued, and experts will be granted facilitations during their stay in Ukraine.

In accordance with the agreement, all reconstruction projects implemented by Latvia will be registered with the Secretariat of the Cabinet of Ministers of Ukraine.

The Latvian government approved the agreement on November 28, 2023. The two countries' foreign ministers signed the document during Ukrainian President Volodymyr Zelenskyy's visit to Latvia on January 11, 2024.

Latvia has been involved in the reconstruction of Ukraine since 2022 and has been restoring social infrastructure and housing and providing psychological support to war-affected women. Latvia also intends to engage in rebuilding of Ukraine in the coming years. In 2024, EUR 5.4 million will be allocated from the state budget towards the reconstruction of Ukraine.