• Українською
  • Ukraine and China to strengthen trade and economic cooperation
    Ministry of Economic Development, Trade and Agriculture of Ukraine, posted 24 September 2020 15:53

    Ministry of Economic Development, Trade and Agriculture hosted a meeting of  Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko and Ambassador Extraordinary and Plenipotentiary of China to Ukraine Fan Xianrong.

    The meeting was also attended by Deputy Minister of Economic Development, Trade and Agriculture, Trade Representative of Ukraine Taras Kachka, Mr. Liu Jun, the Economic and Commercial Counselor of the Embassy of People’s Republic of China in Ukraine, representatives of the Ministry and diplomats of the Chinese Embassy in Ukraine

    "Trade with China is a strategically important area for Ukraine. China is the number one partner in terms of trade turnover among Ukraine's partners in the world (upon the condition of we consider trade with the EU as with separate countries). The potential for cooperation is huge, so we strongly support the deepening of our trade and economic cooperation," said Ihor Petrashko.

    According to the Minister, Ukraine's geographical location is an important factor in finding opportunities in the Ukraine-China-EU triangle. The Free Trade Agreement with the European Union and the beginning of trade liberalization with China may provide significant benefits in the future in the implementation of joint strategic projects.

    The parties discussed potential cooperation and new projects in the fields of infrastructure, industry and agriculture. Concerning the agro-industrial complex, in particular, an issue at stake was about expanding the range of agricultural products in the markets of the parties and increasing trade between Ukraine and China.

    The Ukrainian side has expressed readiness to hold the fourth meeting of the Commission on Cooperation between the Government of Ukraine and the Government of the People's Republic of China in the "offline" regime and awaits proposals on deadlines from the Chinese side.

    Background

    Ukraine's trade turnover with China:

    2019 - $ 12 billion 797.9 million (↑ 30.5%).

    06.2020 - $ 6 billion 652.3 million (↑ 21.4%).

    Export:

    2019 - $ 3 billion 593 million (↑ 63.3%).

    06.2020 - $ 3 billion 005.2 million (↑ 92.6%)