On June 30, Minister of Infrastructure of Ukraine Oleksandr Kubrakov and Minister of Commerce of the People's Republic of China Wang Wentao signed an intergovernmental agreement. It envisages extending of partnership, promotion of cooperation between Ukraine and China in order to implement joint projects in the field of infrastructure development.

Among the priorities of cooperation are railway transit, airports, ports infrastructure, communications and municipal engineering.

According to the deal, Ukraine and China engage in the following directions of activities:

• encourage companies and financial institutions of the two countries to actively cooperate in the construction of infrastructure facilities;
• contribute to the establishment of closer economic ties between the two countries and will provide the necessary assistance and support in the implementation of joint projects.

"The agreement between the Cabinet of Ministers of Ukraine and the Government of the People's Republic of China on deepening cooperation in the field of infrastructure development" provides for attracting funds on concessional terms from the Government of the People's Republic of China necessary for infrastructure projects.

As a result of joint consultations, the parties will approve promising cooperation projects to be supported by PRC funding.

Ukraine and China are strategic partners. The signing of an agreement on deepening cooperation in the field of infrastructure development is another step taken by the governments of Ukraine and China to deepen trade and economic cooperation for the benefit of the two sides.