FMC Corporation (NYSE: FMC) and its Ukraine subsidiary “FMC Ukraine” a leading global agricultural sciences company, and the Ukrainian Ministry of Economy, represented by Ms. Yulia Svyrydenko, First Deputy Prime Minister, Minister of Economy of Ukraine, signed a Memorandum of Cooperation (MoC) on Thursday, June 22 during the Ukraine Recovery Conference 2023 in London. Both parties are committed to continue collaborating to support favorable conditions for the recovery of the Ukrainian economy, with a specific focus on its agricultural sector.
The MoC covers four principal areas for enhanced cooperation: Food Security, Innovation, Farmer’s Safety, and Knowledge Transfer and Capacity Building. FMC and the Ministry have agreed to cooperate in the restoration of the Ukrainian economy by promoting the productivity of Ukrainian agriculture to ensure food security; providing Ukrainian farmers with priority access to the latest available crop protection technologies that maximize the productivity of major crops such as corn, grains and fruits; supporting efforts to ensure farmers can safely resume operations on their land; and improving the knowledge, skills and overall capacity of the agricultural workforce. This includes cooperation with Ukrainian academic institutions to support reconstruction of the agricultural sector and implementing programs to ensure gender equity in agriculture.
The MoC was signed by Yulia Svyrydenko, First Deputy Prime Minister - Minister of Economy of Ukraine, and Sebastià Pons, FMC vice president and president Europe, Middle East and Africa.
"I am immensely proud of our long-term commitment to Ukraine agriculture. Today's agreement represents a significant milestone, furthering FMC’s path forward in support of Ukrainian food production,” said Pons. “By committing to long-term technology investment in the country, we are not only supporting the growth of Ukraine’s agriculture sector, but also helping to bolster food security in Ukraine and throughout the world. Moreover, FMC is extremely proud of our collaboration with The HALO Trust and its work to demine farms and farming communities throughout Ukraine, helping to improve farmers’ safety and well-being.”
Under the umbrella of its Cultivating Freedom campaign, FMC is allocating 3% of its revenues generated within Ukraine in 2023 to support The HALO Trust organization in its demining efforts throughout the country. This collaboration is creating an environment where agricultural workers can carry out their tasks fully and securely on their respective lands, free from the potential hazards of unexploded ordinance.
As part of the new collaboration, FMC is providing advanced technologies for the application of crop protection products, including Arc™ farm intelligence, FMC’s propriety digital platform that leverages artificial intelligence and machine learning to help farmers manage pest pressure through better planning and more precise targeting of crop protection applications. The company is also providing its proprietary 3RIVE 3D® application technology, a revolutionary at plant crop protection delivery system that helps farmers more efficiently protect their crops by saving water, fuel, labor and time. In addition, through its LEAD (Leadership, Education, Advocacy and Development) program, FMC is providing selected Ukrainian university students with valuable internship opportunities, promoting sustainable farming practices, and fueling the nation's agricultural advancement.
The Memorandum entered into force on the date of its signing, June 22, 2023.
