Ukraine and China are developing an economic cooperation roadmap for joint implementation of projects in agricultural, industrial, energy and infrastructure areas, Ukraine Trade Representative Natalia Mykolska said following the 4th meeting of the Subcommittee on trade and economic cooperation of the Commission for Cooperation between the Government of Ukraine and the Government of China.
”We will explore issues related to trade, technical regulation, transport, energy, tourism and high-tech. We attach particular importance to this cooperation,” Mykolska stated.
”We have agreed that the parties will develop lists of goods for export and import, with companies of the two states being involved. We have agreed to promote companies at fairs and exhibitions and send trade missions to China and Ukraine. We have also discussed the possibility of establishing industrial enterprises in the territory of Ukraine for further export of finished products to the EU, the Nordic countries and other countries with which Ukraine has signed a free trade zone agreement.”
Special focus is placed on the development of the Silk Route Economic Belt, Mykolska noted.
”We hope that we will be able to sign the Ukraine-China action plan for joint implementation of the Silk Route, encompassing areas of cooperation such as investment, infrastructure and transport,” Mykolska added.
The trade representative noted that Ukraine was seeking to maintain dialogue with China, especially in the light of previous scandals related to joint Ukrainian-Chinese projects, including the construction of a railroad track to Kyiv`s airport Boryspil and some agricultural contracts.
”Currently, we are selecting appropriate agencies [within the governments of Ukraine and China] that will deal directly with proposals from businesses. We have agreed to intensify a `business-to-business` dialogue. We have agreed to hold sectoral missions to China. This will not happen immediately – it is a specific and large country. We will work out this idea in the beginning of 2017. Additionally, we also expect the Chinese mission of importers to come here.”
China ranks 4th on the list of strategic trade partners of Ukraine. In 2015, the Chinese government announced its intention to increase foreign direct investment to US$500 billion by 2020. Ukraine is a potentially interesting region for China, as the former has a free trade zone agreement with the EU, while similar agreements are also being prepared to be signed with some other countries.