US economic diplomacy in Ukraine

Abstract

The United States recognized Ukraine on December 25, 1991 and after that diplomatic relations between these two countries were established on January 3, 1992. Since Ukraine's independence, the United States has provided practical assistance in establishing itself as a modern democratic and economically developed state.
The United States has granted Ukraine market economy status and terminated the application of the Jackson-Vanik amendment to Ukraine, giving Ukraine permanent normal trade relations status. The United States and Ukraine have a bilateral investment treaty. U.S. exports to Ukraine include coal, machinery, vehicles, agricultural products, fish and seafood, and aircraft. U.S. imports from Ukraine include iron and steel, inorganic chemicals, oil, iron and steel products, aircraft, and agricultural products. The U.S. – Ukraine Council on Trade and Investment was established under the countries‘ agreement on trade and investment cooperation and works to increase commercial and investment opportunities by identifying and removing impediments to bilateral trade and investment flows [3].