You're reading: Putin proposes Kyiv more actively participate in Customs Union

Moscow, June 7 (Interfax-Ukraine) – Russia is ready to integrate with Ukraine via the Common Economic Space, Russian Prime Minister Vladimir Putin has said.

"I’m convinced that Ukraine’s more active involvement in multilateral integration processes, primarily, of course, into the Customs Union and the Common Economic Space, would open up new opportunities for economic actors – for the businesses of our countries," Putin said before the meeting of the Committee on Economic Cooperation of the Russian-Ukrainian Interstate Commission.

Putin noted that it’s up to Ukraine to decide on this matter and that this decision should be carefully considered.

"I want to say that we are certainly ready for Ukraine to get involved into these processes more actively," the premier said.

He noted that trade and economic contacts between the two countries are steadily growing. Bilateral trade grew in 2010 by 62%, to $37 billion, he said.

"This year, we expect to exceed the pre-crisis indicators," Putin said.

He said it was important not only to increase bilateral trade, but to achieve a much better level of business cooperation.

Putin said the countries needed to develop industrial cooperation, partnership in high-tech sectors, and promote mutual long-term investment.

He also said the volume of investment grew last year.

Russian investments totaled more than $1 billion, while those of Ukrainian business exceeded $200 million.