Yanukovych: Ukraine needs Chinese investment and technology

July 3, 2012, 5:06 p.m. | Interfax-Ukraine

Ukrainian President Viktor Yanukovych
© president.gov.ua

The attraction of Chinese investment and technology opportunities in various branches of the Ukrainian economy is a priority for Ukrainian-Chinese cooperation, Ukrainian President Viktor Yanukovych said in his address to the Verkhovna Rada, the text of which was distributed to MPs in parliament on Tuesday.

He said that Ukraine was interested in an innovative approach to trade, economic, scientific and technical cooperation.

"We need new Chinese technology and high-tech products. In turn, we are ready to provide Chinese entrepreneurs with interesting proposals in the exploration and mining of mineral resources, metallurgy, and the chemical industry."

The address notes that China has significant resources in this area and is conducting an active investment policy in many parts of the world, in particular, showing interest in the Ukrainian economy.

"Ukraine wants to use the current potential of bilateral trade, seeing it as a component of its attraction in trade flows between Asia and Europe and the strengthening of national transit potential. Ukraine and China now want to increase trade in the near future to $10 billion," reads the address.

The address to the parliament also says that the creation of foreign food bases, especially amid food crisis, is an important issue for China.

"That's why, our states have broad prospects for cooperation in the agricultural sector," Yanukovych said.