You're reading: Medvedev, Yanukovych to discuss gas supply issue, Customs Union

Moscow, Sept. 23 (Interfax) - The negotiations between Russian President Dmitry Medvedev and his Ukrainian counterpart Viktor Yanukovych, which are scheduled to take place in the Russian president's Zavidovo residence, Moscow region, will focus on cooperation on gas supply and Customs Union issues.

"The meeting has been necessitated by the need to address at the top level the current state of Russian-Ukrainian relations and the most complex bilateral cooperation issues," the Russian presidential press service has reported.

Russia is hoping to settle the problems that have arisen in the sphere of gas supply in the interests of the two countries and for the purpose of ensuring the energy security of Europe, the press service has reported.

"Russia is ready for expansion of bilateral cooperation in the sphere of gas supply and other spheres, including the development of joint mutual investment projects," the Kremlin said.

The meeting is also expected to address issues relating to the Customs Union in the context of trade and economic and investment interaction, Azov and Kerch settlement issues, military-technical cooperation issues, and cooperation in the humanitarian sphere.

Among the CIS countries, Ukraine remains Russia’s leading economic partner. Ukraine’s share in the general turnover in Russia reached 6% in 2010 (against 4.9% in 2009), and the figure increased to 6.4%in January-July 2011, which helped Ukraine become Russia’s fourth largest economic partner (in 2010, it was Russia’s fifth largest economic partner).

Russia remains a leading trading partner of Ukraine (27.1% of all Ukrainian exports account for Russia (against 24.9% in January-July 2010) and 39.9% of its imports account for Russia (against 37% in 2010).

In January-July 2011, Russian-Ukrainian turnover went up 51.6%, reaching $28.87 billion. Russia’s exports went up 50.1%, reaching $17.85 billion, and imports went up 54.2%, reaching $11.02 billion.

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