Ukraine Ready To Launch Joint Ventures With Russia - Yanukovych

ZAVIDOVO, Russia -- Ukraine is ready to set up a number of joint ventures with Russia in various areas of cooperation, Ukrainian President Viktor Yanukovych said.

Medvedev (L) and Yanukovych will continue talks on a wide range of bilateral and global issues at the Russian president's residence in Zavidovo on Saturday.

"There are...many proposals [from the Ukrainian side] to create joint ventures [with Russia] in a number of areas," Yanukovych said at a late Friday meeting with Russian President Dmitry Medvedev.

The Ukrainian president said the economies of both countries compliment one another and stressed the fact that bilateral trade almost doubled in the first half of 2010 year-on-year.

"Export and import flow in both directions, and total about $20 billion," he said, adding that many trade barriers had been eliminated.

"Serious political decisions have been made, and officials on both sides realize that we must 'open the floodgates.' The times when we fooled around with this instrument on both sides are over," Yanukovych said.

He also suggested that Ukraine and Russia could cooperate in preparation for the 2012 UEFA European Football Championship in Ukraine and 2014 Winter Olympics in the Russian Black Sea resort of Sochi.

Medvedev and Yanukovych will continue talks on a wide range of bilateral and global issues at the Russian president's residence in Zavidovo on Saturday.

Russia-Ukraine ties have blossomed since Yanukovych replaced the pro-Western Viktor Yushchenko in February.

Source: RIA Novosti

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