10:21 16.01.2014

Ukraine intends to boost trade, mutual investments with Customs Union - minister

2 min read

The Ukrainian government pledged to enhance bilateral trade and mutual investments with the Customs Union, formed by Russia, Belarus and Kazakhstan, as part of its cooperation program with the union for the period up to 2020, Ukrainian Economic Development and Trade Minister Ihor Prasolov said.

"The results that we are expecting from this program primarily include an increase in the volume of bilateral trade by an average of 10-15%, growth of the trade in manufactured commodities and services, an increase in the volume of mutual investments by an average of 15%, and the further growth of the number of enterprises financed by mutual investments," Prasolov was quoted as saying by the Economic Development and Trade Ministry on Wednesday.

The program's goals include deepening economic integration in order to secure a rapid pace of economic growth, boosting competitiveness, improving the investment climate, raising the appeal of the Ukrainian economy for investors, raising the standards of living in the country, and enhancing social security for the benefit of Ukraine and the member states of the Customs Union, the minister said.

"The program paves the way for cooperation between Ukraine and the Customs Union's member countries in trade, the economy, the fuel and energy sector, transport, agriculture, space exploration, technical regulation, innovative development, scientific research, as well as border and interregional cooperation," he said.

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