Ukraine offers China to expand nomenclature of agricultural products

According to the report, this issue was discussed at a meeting between Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko and China's Ambassador to Ukraine Fan Xianrong on September 24.

Both parties discussed potential cooperation and new projects in the fields of infrastructure, industry and agriculture. As for the agricultural sector, they discussed the issue of expanding the range of agricultural products in the markets of the two countries and increasing bilateral trade.

The Ukrainian side expressed its readiness to hold the fourth meeting of the Ukrainian-Chinese intergovernmental commission on cooperation virtually and awaits proposals on the date for the meeting from the Chinese side.

"Trade with China is a strategically important area for Ukraine. China is the No. 1 country in terms of trade among Ukraine's partners in the world (provided that we consider trade with the EU as with separate countries). The potential for cooperation is huge, so we strongly support the deepening of our trade and economic cooperation," Petrashko said.

According to him, Ukraine's geographical location is an important factor in finding opportunities in the Ukraine-China-EU triangle. The free trade agreement with the EU and the beginning of trade liberalization with China may provide significant benefits in the future in the implementation of joint strategic projects.

Ukraine's trade turnover with China in 2019 amounted to $12.8 billion. In the first half of 2020, it reached $6.6 billion.

Ukraine exported $3.4 billion worth of goods to China in 2019 and $3 billion worth of goods in the first half of 2020.

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