April 24, the 4th meeting of the Intergovernmental Ukrainian-Korean Commission on Trade and Economic Cooperation, co-chaired by First Deputy Minister of Economic Development and Trade of Ukraine Maksym Nefyodov and the Deputy Minister for Economic Affairs of the Ministry of Foreign Affairs of the Republic of Korea Yun Kang-Hyeon, was held in Seoul.
The attendees discussed cooperation between Ukraine and Korea in trade, industry, energy, infrastructure, agriculture, science and technology, regulatory sphere and other sectors.
The First Deputy Minister of Economic Development and Trade of Ukraine placed a special emphasis on the fact that Ukraine is poised to become a reliable and serious stakeholder in the global value added chains and is interested in developing mutually beneficial trade and economic ties with Korea as one of the most interesting and promising partners for Ukrainian business.
Moreover, he also stressed the strategic benefit of using transit potential of Ukraine, in particular, the location of Ukraine is extremely attractive for the Korean business in terms of delivery of finished products to the European market.
Maksym Nefyodov emphasized that, according to the results of 2017, the trade turnover between Ukraine and South Korea amounted to $ 630 million, but it is possible to reach indicators of 2012, namely, the volume of bilateral trade which made up $ 1.5 billion, due to implementation of joint initiatives for business development.
Apart from that, the Deputy Minister underlined willingness to cooperate in the field of agribusiness, which is a promising area of cooperation, in the field of industry, in particular the joint production of vehicles as well as to establish cooperation in the field of railway engineering with Korea. No less interesting are the prospects in the tourism sector, inter alia, the activities of the Ukrainian-Korean working group on tourism.