Ukraine-China trade up by 20.5% in 2020 – Trade envoy

Trade between Ukraine and China in 2020 increased by 20.5%, to US$15.4 billion.

That's including the exports that doubled to $7.1 billion, according to the Deputy Minister of Economy, Ukraine's Trade Representative Taras Kachka who spoke with China Ambassador Fan Xianrong on Wednesday, the ministry's press service reports.

"China is Ukraine's key trade partner in the Asian region. Over 2020, trade turnover between our countries increased by 20.5%, up to US$15.4 billion, including exports that doubled up to $7.1 billion. Half of Ukrainian exports to China are agricultural products, and we are interested in further increasing trade supplies and expanding commodity positions," the press service quoted Kachka as saying.

The parties discussed progress of Ukraine-China cooperation in the fields of trade, investment, and agriculture. The priorities were also designated of bilateral cooperation for 2021, including as regards the prospects for holding meetings of bilateral bodies on sectoral cooperation.

The parties also focused on topical issues of expanding access of Ukrainian agri-foods to the Chinese market.

Read alsoFirst batch of Chinese COVID-19 vaccine sent to Ukraine (Photo)In January-February this year, mutual trade between Ukraine and China amounted to $2.494 billion (+18.4%), exports – to $1.093 billion (+43.8%), and imports – to $1.401 billion (+4.1%).

The share of agri-food products in the total structure of Ukrainian exports to China stood at 53.1% ($579.8 million).

Background

By the end of 2020, Ukraine had reduced the export of agri-foods to the EU countries by 10.8%, to EUR 6.53 billion, while increased food imports from the EU by 13.4%, to $3.5 billion.