OREANDA-NEWS. May 29, 2013. Kyiv hosted the second session of Ukrainian-Chinese subcommission on trade and economic cooperation chaired by First Deputy Minister of Economic Development and Trade of Ukraine Anatoliy Maksiuta.

In his speech he noted that the Government of Ukraine attributes a huge importance to the development of economic cooperation with the People’s Republic of China and considers that there exists a significant potential for deepening of present and creation of new mutually beneficial ties in various economic branches.

Among the countries of Asia and Pacific region the People’s Republic of China takes the first position on the volumes of bilateral trade with Ukraine that on the data of the State Statistics Committee in 2012 made up USD 9.67, which proves its importance as a trade partner.

“Over the recent years we have observed good growth rates of mutually beneficial trade. The data of Ukrainian statistics prove that according to the results of 2011 two-way trade turnover in goods and services grew by 40.5%, in 2012 – by 14.6%,” Anatoliy Maksiuta stressed.

At the same time, he noted certain imbalance in trade between our countries exists – in 2012 by gross index the Ukrainian export to China made up 19.0% of all trade volumes, while Chinese import – 81%. 

“Imbalance in bilateral trade leads to emerging the negative balance for Ukraine which made up USD 6.66 in 2012. That’s why increase of export amounts, enlargement of its nomenclature, overcoming of negative balance in two-way trade have peculiar importance for Ukraine on the present stage,” Anatoliy Maksiuta emphasized.  

In his view, taking into account the structure and potential of economics of the country it is necessary to concentrate efforts on creating conditions for stirring up cooperation of our enterprises along more perspective directions such as aircraft industry, machine building, metallurgy, woodworking, power energy, chemical and coal industry, transport infrastructure. A huge unused potential for the development of cooperation by means of maintaining tight cooperation ties and creating joint enterprises exists in multiple spheres as well. 

In addition, Anatoliy Maksiuta considers that there exists unrealized potential of investment cooperation between our states. As of January 1, 2013 in Ukraine there were registered USD 18.4 mln in Chinese investments, in 2012 this sum grew by USD 3.2 mln. Almost a half of Chinese investments are directed into Ukraine’s industry – 41.6% (USD 7.67 mln).

“I would like to emphasize Ukraine’s interest in further development of investment cooperation. We take serious steps with an aim to create favourable investment climate, to improve conditions for making business in the state,” Anatoliy Maksiuta says.