Innovative nature of Ukrainian economy will be enhanced

Ukraine has powerful strategic partners, such as Russian Federation and China. As a result of cooperation with these countries, Ukraine will be able to improve the level of innovation and create stable jobs for all groups of population. At current stage, all documents and working groups have been prepared for the cooperation projects, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

Efficient economic relations were established between Moscow and Kyiv after signing a number of agreements in December 2013. Some of them will be implemented in 2014. Igor Prasolov, Minister of Economic Development and Trade said during his interview to BTB channel that implementation of joint Ukrainian-Russian projects will ensure the efficient use of innovations in the Ukrainian economy, thus improving its competitiveness and contributing to economic growth and attraction of scientific resources to production.

The 23 projects have been agreed between Ukraine and Russia. They will develop the high-tech sectors of economy, including aircraft industry, nuclear power, shipbuilding, aerospace industry, and communication technology. Igor Prasolov noted that preliminary cost of the projects is known, documents and feasibility study were prepared, and persons responsible for implementation were nominated. "These projects are important for further development of Ukraine, enhancement of competitiveness, and resulting improvement of living standards for our people," the minister said. 

The preliminary cost of the projects is 56.4 billion USD. According to experts, annual investment of around 8 billion USD by Ukraine (Russian investments for project implementation in priority sectors) will ensure stability of economy on the whole and guarantee the employment of population. According to experts, general economic indicators will show improvement in the first quarter of 2014.