Ukraine, Turkey sign bilateral cooperation documents

President of Ukraine Petro Poroshenko and President of Turkey Recep Tayyip Erdoğan signed a "Joint Statement Following the Seventh Meeting of the High-Level Strategic Council between Ukraine and the Republic of Turkey".

According to the press service of the head of state, a memorandum was signed between Ukraine’s State Concern Ukroboronprom and Turkey’s State Agency for Defense Industry on mutual bank guarantees. The document was signed by Director General of Ukroboronprom Pavlo Bukin and President of the Defense Industry of the Republic of Turkey Ismail Demir.

The memorandum defines the terms of fulfillment of contractual obligations between Ukroboronprom and the State Agency for Defense Industry of the Republic of Turkey, in particular, in the context of regulating the procedure for obtaining bank guarantees necessary for the implementation of projects in the field of defense industry. The document stipulates the parties' agreements on the implementation of contracts in the defense industry without the need for bank guarantees if the amount is less than $10 million.

The agreement on the development of cooperation between the Government of Ukraine and the Government of the Republic of Turkey was signed by First Vice Prime Minister of Ukraine - Minister of Economic Development and Trade of Ukraine Stepan Kubiv and President of the Turkish Cooperation and Coordination Agency Serdar Çam.

The agreement will create the legal basis for the establishment of the Office for Program Coordination in Ukraine with a view to developing fruitful cooperation in the economic and social spheres between the two governments. Particular attention will be paid to technical and financial cooperation projects (programs) aimed at developing educational infrastructure, social services, agriculture, tourism and manufacturing sectors of the states, as well as raising the level of institutionalization in the public administration.