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You're reading: Yanukovych visit to Turkey comes at critical time

The meeting agenda included a road map to bilateral
relations of the two nations in the near future. One of the most important
items on the agenda is a free trade agreement that Ukraine and Turkey have been
quietly discussing for two years. Both sides will deepen economic ties if they
reach an agreement on the details.

It would be a fitting accomplishment to a neighborly
relationship that has been good from the start – ever since Turkey became one
of the first nations to recognize Ukraine’s independence and open a diplomatic
mission in Ukraine. The relationship has improved since then.

Turkish investments in Ukraine has nearly reached $2
billion. The National Bank of Ukraine says that roughly 700 companies of
Turkish origin are active in Ukraine’s economy. The major shareholder of LIFE,
the third largest telecoms partner in Ukraine, is TURKCELL, the biggest mobile
telecoms operator of Turkey. Besides two Turkish banks, some of the other
Turkish holdings include have production and marketing businesses.

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