The First Vice Prime
Minister, Finance Minister of Ukraine Mykola Azarov and Minister for Foreign
Affairs of the Republic of Iceland Valgerdur Sverrisdottir signed Agreement for
avoiding double taxation between the countries, Cabinet press office reported.
As early as 2004, during
the first official visit of the Prime Minister of Iceland to Ukraine the sides
have come to an arrangement on signing this Agreement. This Agreement will
enhance trade–economic and investment cooperation between Iceland and Ukraine.
This cooperation is traditionally based on the principles of mutual
understanding, confidence, and mutual support in international organizations.
Mykola Azarov emphasized
that foreign trade turnover between Ukraine and Iceland increase but still does
not reflect the potential of our countries and opportunities of different
branches of the economy.
In 2005 the goods
turnover between our countries increase by 44,4% - to 16,6 million USD, at the
same time import to Ukraine increased more – by 56,1% that produced a negative
balance 9,6 million USD.
During the first half
year the goods turnover increased by 58,2% - to 13,2 million USD and produced a
negative balance 10,6 million USD. Surely, such balance of trade is problem for
Ukraine. The Agreement for avoiding double taxation and arrangements between
the Chamber of Commerce and Industry of Ukraine and Iceland may become an
incentive for the Ukrainian companies to stir up their activity in the Irish
market.
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