Ukraine, China to implement joint projects worth $7 bln


Ukraine and China mark the 25th anniversary of the establishment of diplomatic relations and transfer to a new strategic level of cooperation envisaging the implementation of joint projects totaling about $7 billion, according to the Cabinet press service.

Appropriate agreements were reached during a meeting between Prime Minister of Ukraine Volodymyr Groysman and Vice-Premier of the State Council of the People’s Republic of China Ma Kai. The meeting was held in the framework of the third session of the Commission on bilateral cooperation between the Governments of Ukraine and the People's Republic of China. Read also Great potential in Ukraine-China cooperation on renewable energy - official "China has been and still remains our strategic partner and our strategic priority. And today, we are opening up new opportunities for deepening our partnership and re-launching the implementation of joint projects and initiatives," said Volodymyr Groysman.

In response, Ma Kai has emphasized that China pays great attention to cooperation with Ukraine, both in the political plane and in the sector of bilateral trade and economy. "We believe that we are united in this regard. Hence, we express readiness to encourage and boost our cooperation," emphasized Vice-Premier of China Ma Kai. The parties noted that China had always demonstrated strong support for Ukraine and came up to TOP3 of Ukraine's trading partners.

Over the 9 months of 2017, trade turnover between the two countries has increased by 14.5% - up to $5.6 billion. For its part, Kyiv is pursuing the chosen path of internal reform aimed at leveraging investment from China into the agricultural sector, industry, banking, and joint implementation of large-scale logistics and infrastructure projects both of the continental, in particular, The Belt and Road Initiative, and local significance. Kyiv counts on the active participation of Chinese investors in the major privatization of Ukrainian assets. Volodymyr Groysman also announced that the year of 2019 would be declared Year of China in Ukraine.

"We will open up new opportunities for investment, including through the adoption of new legislation framework on privatization, concession. In doing so, we shall create a tool for raising capital in Ukraine. Moreover, we possess sufficient human resources and technology development opportunities, so we can talk about joining efforts to strengthen common positions in the world market," urged Volodymyr Groysman, "Ukraine reiterates its commitment to be a reliable partner in cross-border projects, primarily, in logistics domain. We are open to cooperation and elaboration of initiatives that would be included in the overall strategy for the development of the aforesaid projects."

The Vice-Premier of the State Council of China welcomed the striving of Ukraine to actively engage in the implementation of international projects, as well as to create the maximum favorable business climate to bolster entrepreneurship development. "For our part, we are keen on encouraging investments, thus it will contribute to the restoration of Ukraine's economy. So, we propose to step up our cooperation on the international project "One Belt - One Road" and, in this context, we consider Ukraine as one of the logistics and industrial hubs on the way to the European Union, and we also hope to resume work on our joint infrastructure projects.

The spectrum of our interaction is not limited to the agricultural sector or the construction of infrastructure objects. We are also interested in technological cooperation, the creation of industrial parks, and cooperation in the field of aircraft engineering, space exploration, and energy," stressed the Vice-Premier of the State Council of the People's Republic of China.

The Head of Ukrainian Government thanked the Chinese side for the proposals and assured that the potential of cooperation between the states is really significant. Read also Ukraine seeks to turn cooperation potential with China into practical results: trade representative – media "We are ready to work out different incentives and promote their implementation. There are plenty of plans, opportunities even more, so we must be responsible to address the tasks that we outlined," he said.


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