Ukraine hopes to intensify economic relations with United Kingdom
This was discussed at the meeting between Minister Ihor Petrashko and Ambassador Extraordinary and Plenipotentiary of the United Kingdom of Great Britain and Northern Ireland to Ukraine, Melinda Simmons the press service of the Ministry of Economic Development, Trade, and Agriculture of Ukraine informs.
"In 2019, the United Kingdom invested more than $2 billion in Ukraine's economy and entered top-3 major countries - investors in our country. We are interested in maintaining the current level of trade and economic relations and, given the UK's withdrawal from the EU, we hope that an Agreement on Political Cooperation, Free Trade, and Partnership between Ukraine and the United Kingdom of Great Britain and Northern Ireland will be signed in the near future," the Ukrainian minister said.
He added that the new agreement would guarantee a smooth supply chain contributing to food security in both countries.
The parties discussed promising areas of cooperation, in particular, in the field of agro-industrial complex, energy efficient technologies, increasing exports of Ukrainian agricultural and metallurgical products, implementation of bilateral investment projects.
The attraction of British experience in the development of public-private partnership instruments and attraction of foreign direct investment was also touched upon.
As reported, for two months of 2020, the UK-Ukraine bilateral trade turnover reached USD 219.3 million dollars, up 1.2% compared to the corresponding period of 2019. At the same time, exports of goods from Ukraine to the United Kingdom amounted to USD 109.2 million dollars and increased by 18.6%; imports of British goods to Ukraine totalled USD 110.1 million and decreased by 11.6%.
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