Mutually beneficial projects were discussed at the eighth meeting of the Subcommittee on International Cooperation of the Ukrainian-Russian interstate commission, which took place in Rostov-on-Don on Monday, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

Ukraine’s intention to sign the EU Association Agreement in late November 2013, which will increase the competitiveness of the domestic economy, does not contradict the Ukrainian-Russian plans to expand bilateral contacts. The countries will strengthen relations in trade and other industries based on the most favored nation treatment. 

"The ultimate goal of Ukraine is to modernize our country to European models and standards. We want to build Europe in Ukraine," said Minister of Foreign Affairs of Ukraine Leonid Kozhara. "European integration and the signing of the agreement is the tool that our country has chosen to achieve this goal." 

In turn, Russia and Ukraine are looking for a new model for productive interaction in different sectors of the economy. 

Despite the fact that the process of water boundary settlement is not yet completed, NAK Naftogaz Ukraine with the Russian company OAO Gazprom, guided by the principles of international law, are examining the possibilities for an effective joint development of gas fields in the Black and Azov Seas. 

Furthermore, Russia and Ukraine continue to explore opportunities for resuming the An-124 Ruslan project. The sides are discussing an intergovernmental agreement, which will provide for mass production of the plane. 

The prerequisites for this were set up in late August 2013, when the Ukrainian government delegation visited the International Aviation and Space Salon MAKS-2013 in Zhukovsky, and agreed with Russia on the latest technical details of future agreements. 

The Business plan for the An-124 Ruslan project has been developed by the world’s largest British auditing company Ernst & Young. Its experts concluded that production of the aircraft will be profitable for orders exceeding 40 crafts a year. The approximate cost of the basic version of Ruslan is 300 million USD. 

Market trends are favorable for the project. Preorders already exist on 61 aircraft, 50 of them are going to Russian air cargo company «Volga-Dnepr», which specializes in charter air transportation of heavy and oversized cargo. According to experts, the demand of the world market is estimated to be 200 aircraft of this class till 2030. 

In 2012, the trade turnover between Ukraine and Russia exceeded 45 billion USD.

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