Ukraine, China talk expanding agri-supplies

Ukrainian and Chinese officials have discussed potential cooperation and new projects in the field of industry, infrastructure, and agri-industrial complex, the Ministry for Development of Economy, Trade, and Agriculture reported following the meeting of Minister Ihor Petrashko with Chinese Ambassador Fan Xianrong.

"Regarding the agri-industrial complex, it was including about expanding the range of agricultural products on the markets of both parties and higher trade volumes between Ukraine and China," says the statement.

Read alsoForecasts released for 2020 grain, legumes harvestPetrashko has stressed that trade with China is a strategically important area for Ukraine.

"China is No. 1 in terms of trade among Ukraine's partners worldwide (provided that we consider trade with the EU as with individual countries). The potential for cooperation is enormous, so we strongly support the deepening of our trade and economic cooperation," the statement reads.

Petrashko says Ukraine's geographical location is an important factor for finding opportunities in the Ukraine-China-EU triangle. The minister added that a free trade zone with the EU and the start of trade liberalization with China could provide significant advantages in the future toward the implementation of joint strategic projects.

Ukraine-China trade: Background

• The trade turnover between Ukraine and China in 2019 amounted to $12.8 billion, which was 30.5% above the level of 2018.
• For the six months of 2020, mutual trade increased to $ 6.6 billion, which is 21.4% more on year.