China is Ukraine’s main partner in the Asia-Pacific region, President Viktor Yanukovych stressed during today’s Ukrainian-Chinese expanded talks. 

The President noted positive effects of the efforts of both countries. He said Ukraine and China aim to reach the annual trade turnover of $10 billion in the near future. "The turnover has increased 80% this year," Viktor Yanukovych said, "This proves we have great untapped potential of economic cooperation." 

He expressed the belief that the recently created Ukrainian-Chinese Intergovernmental Commission on Cooperation at the level of vice-prime ministers of both countries would become an important tool to develop Ukrainian-Chinese economic cooperation. Another important body to promote cooperation between Ukraine and China is the Ukrainian-Chinese Business Council, he said. 

Viktor Yanukovych stressed the importance of developing investment and financial cooperation, such as the implementation of large-scale infrastructure investment projects in Ukraine with the help of Chinese capital and technologies. Among such project he named the pilot project of building a high-speed railway between Boryspil Airport and the city of Kyiv. "It must be implemented on time and on the highest quality level," Viktor Yanukovych said. 

The President also added that technical preparations for building a combined cycle power plant in the town of Shcholkino, Crimea, are currently going on. "I hope that its soonest launch will allow solving the problem of electricity shortage in Crimea," he said. The abovementioned projects are now being implemented with the help of Chinese banks’ loans obtained under the state guarantees provided by Ukraine, the President said. 

Another promising area of cooperation between Ukraine and China according to Viktor Yanukovych is aircraft and engine production, particularly the cooperation between Ukraine’s Antonov ASTC and Chinese aircraft construction companies. In addition, the two countries have prospects of cooperation in space exploration and scientific-technical sphere, and their bilateral cooperation in agriculture has been growing steadily. 

Viktor Yanukovych stressed that Ukraine attaches great importance to expanding inter-regional cooperation with China. He also noted the importance of deepening cultural and humanitarian cooperation between Ukraine and China. 

Separately, the President drew attention to the prospects of trilateral cooperation between Ukraine, China and Russia.


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