Ukraine Land Of Opportunity For Chinese Business: First Deputy Premier

KIEV, Ukraine -- Ukraine has become a new growth point in Europe and a country full of opportunities for Chinese business, Ukrainian First Deputy Prime Minister Andriy Klyuyev told Xinhua in an interview Monday.

Ukrainian First Deputy Prime Minister Andriy Klyuyev.

Klyuyev, who is also Economic Development and Trade Minister, said Ukraine pays close attention to China's great economic development achievements.

"Despite the global economic crisis, China has become the second largest economy in the world," he said, adding that "nowadays, few countries could manage to get such results."

Klyuyev said the Ukrainian economy showed a steady 5 percent growth with a tendency to increase, despite the European debt crisis.

"The Ukrainian government set a task to increase the growth of average annual gross domestic product between 6 percent and 8 percent," he said.

Ukraine has systematically improved its investment climate, reformed its regulatory system and created favorable conditions for business, he added.

"Today, many state regulatory acts have been abolished or revised to simplify all procedures. And the work continues," the first deputy premier said.

On bilateral relations, Klyuyev said political and ideological differences between Kiev and Beijing never existed.

"Ukraine, which is on the verge of signing a free trade area agreement with the European Union (EU), will provide effective support to China on many international issues," he said.

Klyuyev said Ukraine's geographical position should be regarded as a competitive advantage.

He noted that, apart from the common borders with EU countries and Russia, Ukraine has full access to the Black Sea, which makes it easier to obtain trade routes, construct ports and develop the Black Sea shelf.

"Chinese business has extensive experience in implementing large infrastructure projects. Therefore, we invite Chinese investors to participate in modernization and expansion of Ukrainian ports' export capacity, transportation routes and related infrastructure," he said.

Meanwhile, the official stressed that Ukraine is a country with a powerful gas-transport system and large gas, oil and coal deposits, making it one of the most promising players in the world fuel market.

"During the first seven months of 2011, Ukraine has exported more than 1 billion U.S. dollars' worth of goods to China. It is almost 74 percent more compared with the same period last year," Klyuyev said.

"However, Ukraine's export potential is not limited to minerals, metals and chemical products," he said.

The first deputy premier said that, against the background of a global food crisis, agricultural cooperation between the two countries is becoming particularly important, and Ukraine has a great potential.

Klyuyev also said Ukraine and China should broaden their cooperation in all fields.

"Joint projects in high technology, science and applied research represent mutual interests of Ukrainian and Chinese business," he said.

"Ukraine has a developed technological base in the aviation industry, which enables successful development of bilateral ties, taking into account the size and growth of the Chinese market. China can share experience in implementing technology for the reclamation of recyclable materials, while participating in such projects in Ukraine," the official said.

Klyuyev expressed a conviction that Kiev and Beijing have huge potential for expanding their cooperation.

"Today, Ukraine is a country of inexhaustible new economic opportunities. Therefore, we invite Chinese business: Come to Ukraine," he said.

Source: Xinhua