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The writer is secretary to the American Treasury
Although many have been reported on the economic partnership that President Donald Trump proposed to his Ukrainian counterpart, Volodymyr Zelenskyy, there is a lot about this which has been distorted or is simply false. So I am delighted with this opportunity to clearly indicate how this partnership benefits our two nations.
Without the support of the United States and the American people, the position of Ukraine would be at best perilous. The support of the United States has enabled a historic and valiant defense by the Ukrainian people and, therefore, we are now about to make a peace agreement for Ukraine and a renewal of stability in Europe.
As was reported above, Zelenskyy proposed giving the United States participation in the elements of the rare land of Ukraine and critical minerals during a visit to Trump Tower in September. In other words, it was the Ukrainian president himself who proposed for the first time to President Trump a future, an economic partnership with advantages common to the two nations.
We know that the economic future of Ukraine in period of peace can be more prosperous than to any other moment in the history of the country, and a partnership with the Americans will ensure its prosperity. President Zelenskyy recognizes this, as did President Trump. With these facts in mind, I went to kyiv during my first international visit as secretary of the Treasury with a proposal that demonstrates our long -term commitment to a free and secure Ukraine – an agreement focused on the turbocompression of economic growth of the country.
This partnership will support the continuous commitment of the United States towards the inhabitants of Ukraine and will lay the foundations for a robust reconstruction of the Ukrainian economy. Although the prices of assets can be inconsistent, the Ukrainian debt has been negotiated to the news, indicating that the creditors and the financial markets of Ukraine appreciate the advantages of the economic society.
The Ukrainian people have demonstrated incredible bravery and resilience. They deserve to take advantage of the advantages of freedom for which they fought so heroically. Ukraine has natural resources and other national assets that can stimulate its post-war economic growth, but only if its government and its people are armed with capital, sufficient expertise and good incentives .
The terms of our partnership propose that the income received by the government of Ukraine natural resources, infrastructure and other assets be allocated to a fund-focused fundraising and long-term development of Ukraine where the states- UNIS will have economic and governance rights in these future investments. This structure and this relationship provide high standards of transparency, responsibility, corporate governance and legal frameworks necessary to attract robust private investment for post-war growth in Ukraine.
The involvement of the United States would leave no room for corruption and initiate agreements. When I was in kyiv, I have met many American companies that have been in the field in Ukraine for years. And I spoke with many others who are ready to support the Ukrainian economy by just and lasting peace. The terms of this partnership will mobilize American talents, high capital and standards and governance to accelerate the resumption of Ukraine and sends a clear message to Russia that the United States is invested in a free and prosperous Ukraine term.
The United States is a sustainable and long-term partner in this relationship. The product of future sources of income would be reinvested in key sectors focused on the unlocking of Ukraine growth assets. The terms of this agreement would also guarantee that countries that do not contribute to the defense of Ukraine sovereignty will not be able to benefit from its reconstruction or these investments.
The United States has always been creative to best find the means to support its partners. In 1942, the United States and the United Kingdom agreed to “promote mutually advantageous economic relations between them and the improvement of global economic relations”, on the basis of the exchange of destroyers for the basis of rights in Caribbean. This avant-garde provision has contributed to laying the financial bases of unprecedented economic growth known in the past 80 years.
In the same vein, the innovative approach of President Trump represents a new model of international productive partnership. Let’s also be clear about what it is not. The United States would not appropriate physical assets in Ukraine. It does not spare Ukraine either with more debts. This type of economic pressure, although deployed by other global players, would advance American or Ukrainian interests. In order to create more long-term value, the United States must be invested alongside the inhabitants of Ukraine, so that both parties are encouraged to gain as much as possible.
The neighbor close to Ukraine, Poland, has shown what is possible. Thanks to good economic policies and a diversified economy, Poland has been an attractive trading and investment partner for the United States. Since 1992, Poland’s economy in terms of real GDP has more than tripled in size while the per capita income of its citizens is more than seven times higher today than it was then. The success that Poland has had structural reforms, investment in infrastructure, the attraction of foreign investments and the development of a skilled workforce provides a clear overview of what Ukraine can achieve. Its strategic location, its industrial population and its natural resources are a solid basis for the aspirations of the Ukrainian people.
The partnership proposed by President Trump aligns the interest of the American people with those of the Ukrainian people. The president recognizes that national security is built in parallel with economic security, and the more successful and secure Ukraine is, the more the Ukrainian people and the American people will benefit. This economic partnership would launch the foundations of lasting peace by sending a clear signal to the American people, the Ukrainian people and the government of Russia on the importance of Ukraine sovereignty and future success in the United States.
