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Ukrainian producers of soybeans and barley will be able to enter the Chinese market in 2014. Mykola Prysyazhnyuk, Minister of Agrarian Policy and Food of Ukraine and the General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China have signed the protocols of phytosanitary and inspection requirements, the Information-Analytical Bulletin of the cabinet of Ministers of Ukraine informs.
The signing of protocols was a logical consequence of successful negotiations President Viktor Yanukovych had during his visit to China.
"The export potential of Ukraine is growing. Therefore, the government continues a systemic effort to expand geography of exports of domestic agrarian produce. After all, it is the objective that has been repeatedly emphasized by president and it is an integral part of the Development Strategy for agricultural sector 2020. And the Chinese market is very attractive for Ukraine in terms of expanding supply of grain and oil crops," Prysyazhnyuk said.
The Ministry also plans to prepare phytosanitary protocols for exporting to China canola and wheat in 2014.
Experts note that the protocols should help increase the share of domestic agricultural products in total trade with China. They will also help attract Chinese investment to the domestic economy. During negotiations, the Government of China declared that Chinese investments in the Ukrainian economy, including in the agricultural sector, could reach 8 billion USD in the coming years.