Ukraine, Armenia boost bilateral trade

Trade turnover between Ukraine and Armenia this year has grown 5% and at the end of seven months reached 117.1 million USD, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

"Our country is steadily implementing the course of European integration. At the same time we continue to develop relations with our strategic partners, one of which is Armenia. Trade turnover between our countries grew by 5%, and in the seven months of this year reached 117.1 million USD. A promising direction is to deepen cooperation in the industrial sector, nuclear energy, agriculture, transport and communications," said Deputy Prime Minister Oleksandr Vilkul. 

Experts say Armenia plans to build a new nuclear power plant.  The participation of Ukrainian companies in production of equipment for the nuclear power plant and directly in the construction project looks very appropriate and promising.

To date, the domestic machine building industry has a significant capacity for production and delivery of the major equipment for construction and operation of nuclear power plants, other than reactor facility components.

At the same time, government analysts note the dynamic development of bilateral cooperation in the field of transport, especially rail transportation. As of October 2013, the volume of railway traffic between the two countries amounted to 127,630 tons, which is up 63.9% year-on-year. In road transport, the number of permits for the transportation of goods in 2013 was 2,600 on each side, which fully meets the demands of Ukrainian and Armenian haulers. However, of strategic importance is the intensification of regular flights between the countries. To date, only 3 Ukrainian airlines have permits flights.

The Ukrainian side is also interested in development of bilateral trade in agriculture, potentially, in a supply to Armenia of domestic dairy and poultry products.

The parties are also convinced of the importance of deepening cooperation in science and technology. This will allow to perform joint research projects and contribute to the establishment of partnerships between scientific communities.