Korea, Ukraine Increase Cooperation in Agriculture
OREANDA-NEWS. August 23, 2013. Ukraine is considering the possibility of increasing the supplies of agricultural products to the market of the Republic of Korea. In particular, the domestic corn, sunflower oil and confectionery. In addition, Ukraine is preparing to start exporting meat to the Korean market. This was discussed today at a meeting of the Minister of Agrarian Policy and Food Mykola Prysyazhnyuk with President of the Association of Interparliamentary Relations with Ukraine of the National Assembly of the Republic of Korea Cho Jeong Sik.
"It is important for us that 10-15% of agricultural and food products imported by Korea will be Ukrainian origin. So, last year, Ukraine successfully started exporting vegetables to Korea. However, we also have good potential for other positions. In particular, Ukraine plans to become one of the main suppliers of grain to Korea in the near future," Mykola Prysyazhnyuk said.
The Minister emphasized that the quality of Ukrainian grain is recognized by a number of countries of the region, including China, Japan and Bangladesh. Therefore, it is high time to open the Korean market.
In turn, the Korean side expressed interest in purchasing the Ukrainian grain, meat and other agricultural products. In addition, South Korea is considering increasing investments into Ukrainian agricultural sector.
Mykola Prysyazhnyuk also noted that Ukraine is currently preparing to start supplies of meat to Korea. Certification of the relevant Ukrainian enterprises is being completed.
"However, we consider not only the market for grain and meat. Ukraine may increase the presence of other domestic agricultural products in Korea, such as sunflower oil and confectionery," Mykola Prysyazhnyuk said.
The Minister also stressed that Ukraine is interested in increasing Korea’s investments in agriculture. So, laws that guarantee the protection of foreign investments, including in the agricultural sector are being developed.
Recall that in 2012 trade turover of agricultural products between Ukraine and the Republic of Korea amounted to USD 251.2 million. The export amounted to UAH 245.2 million.