Ukraine-China Boost Cooperation - President Yanukovych

KYIV, Ukraine, September 6, 2013 /PRNewswire/ --

Ukraine is interested in strengthening political relations with the People's Republic of China. This was stated by the President of Ukraine Viktor Yanukovych at the meeting with the member of the Central Politburo Standing Committee of the Communist Party of China Liu Yunshan in Kyiv.

"Developing strategic relations with China is among our foreign policy priorities. We [Ukrainian government] secured all the conditions for further development of cooperation," commented the president.

"We consider Ukraine a real friend and a real partner in Central Europe," highlighted Liu Yunshan in response. The Treaty on Cooperation between Ukraine's Party of Regions and China's Communist Party signed in April 2011 formed a solid ground for the active development of inter-party relations, according to Viktor Yanukovych.

Moreover, Liu Yunshan stressed that China's Head of State Xi Jinping and Premier of the State Council Li Keqiang highly appreciated the efforts of President Yanukovych aimed at strengthening bilateral affairs.

Notably, Ukraine's leader is planning to make an official visit to China in December 2013. The visit will include meetings with Chinese president and premiere.  During his visit, the Ukrainian president expects to sign the Treaty on Friendship and Cooperation between Ukraine and China and the Program of Development of Strategic Partnership between the two countries for 2013-2017.

Recently, Ukraine and China dramatically intensified bilateral cooperation by expanding trade and economic relations. For instance, Ukraine plans to export to China about four million tons of grain in 2013 calendar year, having received USD 1.5 billion credit from the Asian country in March 2013. Out of four million tons which are to be exported to China, two million tons will be purchased directly on Ukrainian market while the remaining two million tons will be procured through forward contracts. Remarkably, the contract between Ukraine and China, which was signed in July 2012, stipulated the supply of Ukrainian grain during the period of 15 years.

Additionally, in 2012, Ukraine began cooperation with China as the world's largest corn consumer regarding the supply of corn. The eastern Asian nation was planning to buy approximately three million tons of Ukrainian corn per year. To help boost Ukraine's corn production, in July 2012, China provided a USD 3 billion loan for Ukraine's agricultural sector.