OREANDA-NEWS. March 14, 2008. The Economic Commission of the CIS Economic Council currently held its meeting in the Russian capital, approved the Ukrainian proposal to develop a project of the Interstate Target Program of Innovation Cooperation of the CIS Countries till 2015.

As Head of the Ukrainian delegation, Deputy Economics Minister Valeriy Muntian, who reported on development of the present document at the meeting, told UKRINOFRM correspondent in Russia, the Interstate Target Program of Innovation Cooperation is a qualitatively new document and it includes cooperation in different spheres.

One of its important elements, according to the delegation head, is a synergic cooperation of the CIS countries, since the amount of the energy resources will reduce, and their prices will rise. Therefore the CIS countries need to direct their immediate efforts toward development and implementation of energy-saving technologies. In particular, to develop alternative energy sources as soon as possible, including those based on hydrogen. V. Muntian reminded that west countries pay much attention to this sphere and they allocate considerable investments, as a result a term appeared "the hydrogen economy".

He also accentuated that there are many scientific developments in Ukraine in different spheres, but they lack investments. In other CIS countries, for instance in Russia, there are investments, but they lack a sufficient number of scientific developments, V. Myntian thinks.

The Interstate Target Program of Innovation Cooperation of the CIS Countries is called to settle this problem. The draft document was prepared by the Economics Ministry within with the framework of practical implementation of decisions of the Council of the Heads of CIS states, dated October 5, 2007.

In addition, the Ukrainian party continues its work over the Strategy of the CIS Economic Development till 2020. V. Muntian reminded that Ukraine is an initiator and now it heads the Working Group for elaboration of this document. "It is very pleasant that working out of the Strategy of CIS Economic Development was entrusted with the Ukrainian party", Deputy Economics Minister Valeriy Muntian, leading the Working Group, noted.

By results of the present meeting members of the Economic Commission also proposed to submit the Strategy developed by Ukraine for consideration of the presidents.

While commenting over possibility of removing the existing trade restrictions among the CIS countries as a result of possible adoption of the Strategy of CIS Economic Development by the Heads of States, V. Muntian emphasized that the present instrument provides for settlement of many topical issues. He reminded that Ukraine, in particular, regularly advocates mutually beneficial cooperation among the countries, and Kyiv, having become the WTO member, immediately stated that it has no intentions to hamper Russia's joining the World Trade Organization.