On the results of the Second sitting of Economic Cooperation Committee of the Intergovernmental Ukraine-Russia Commission held in Moscow under the leadership of Prime Minister of Ukraine Viktor Yanukovych and Head of Russian Government Mykhaylo Fradkov Economic Cooperation Program for 2008-2010 and Action Plan to it have been signed, Cabinet’s press office reports.

Giving comments on the Committee’s sitting, the Head of Ukrainian Government pointed out: “Through a year we have organized work at the level of executives, heads of enterprises, economics branches who cooperate with Intergovernmental Commission.” The next step was middle-term planning. “In fact, today we have signed the Program of trade-economic cooperation for the following three years, today we have an opportunity to look three years ahead and plan our work, which is to be fulfilled jointly and which is to yield fruit into the development of our states,” Viktor Yanukovych put in.

At this Ukraine’s PM stressed that amount of two-way commodity turnover has increased by 38% and totaled over 8 bn USD which proves as a result of the joint activity.

In his turn Mykhaylo Fradkov emphasized that the Program envisages realization of over half a hundred measures in various cooperation circuits.

Russian PM imparted that trade relations are being developed dynamically with certain growth, goods nomenclature of bilateral trade is being enlarged either. Principal attention of cooperation is paid to high-technological branches, we are optimistic about the development of economic ties, within the framework of the Committee we are ready to further activity into improvement of effectiveness and expansion of cooperation for several years to come, Russian Head of the Government was quoted as saying.

Mykhaylo Fradkov noted that volumes of Russian export into Ukraine have grown by 30% through a year, while the supply of Ukrainian goods to Russia by 70%. “This meets our mutual interests and emphasizes concern into providing access to the markets of both countries,” Head of Russian Government explained. According to him, two states possess capacious markets and regulation of trade issues, defining requisite produce would entail full realization of the markets’ potential.

Export of Russian goods is to be tackled either and all this would be a jointing element of organization of trade-economic interaction, as Mykhaylo Fradkov said. At this he stressed on the importance of preparing of corresponding normative-legal base.


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