Ukraine-China trade may hit $10 bln – Kubiv

First Deputy Prime Minister of Ukraine, Minister of Economic Development and Trade Stepan Kubiv says the Chinese market is a priority one for Ukraine and trade between the two countries is expected to hit $10 billion, under the domestic export strategy.

Read alsoUkraine sees strengthened economic ties with China as major achievement: ministry"Since the Chinese market is the focus of Ukraine's export strategy, trade [between the countries] should be $10 billion," he wrote on Facebook.

Ukraine and China have grand plans as for joint projects, Kubiv said.

According to the official, China is ready to invest $7 billion in Ukrainian projects, including those related to infrastructure, the agrarian sector (innovative projects), energy, energy efficiency, etc. The infrastructure projects involve ports, in particular in the city of Kremenchuk, a big ring road around Kyiv (on concession terms), the construction of the capital's subway line, etc.

As UNIAN reported earlier, China is among Ukraine's 10 major trade partners. The most popular staples of Ukrainian exports to China are food products. In late 2016, the two states held preliminary consultations on establishing a Ukraine-China Free Trade Area (FTA).

In early December 2017, Ukraine and China signed a roadmap for the implementation of the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiatives designed to strengthen economic cooperation between Europe and Asia.

China's One Belt, One Road initiative envisages the development of trade relations between China and Europe. Chinese Ambassador to Ukraine Du Wei earlier said that the project would be impossible without Ukraine.

In future, the Silk Road's projects will be able to allow Ukraine to avoid Russia's restrictions on transit supplies to Central Asian countries.