11:50 29.05.2013

Yanukovych: Economic modernization very important amid tough competition on world markets

2 min read
Yanukovych: Economic modernization very important amid tough competition on world markets

Economic growth in countries is possible with the introduction of new technologies in production, and the modernization of industrial facilities, Ukrainian President Viktor Yanukovych has said.

"We understand perfectly well that economic growth is possible when all possibilities and forces are used, when there are innovations, when there is a modernization of industry, and production with high added value is growing," the presidential press service quoted him as saying at a meeting with Kazakh President Nursultan Nazarbayev in Astana on Wednesday.

Yanukovych said that economic modernization is very important amid tough competition on the world markets.

The sides also discussed cooperation between Ukraine and Kazakhstan. Nazarbayev said that bilateral relations were developing smoothly and that trade between the two countries was growing.

"We can achieve more success in this matter," Nazarbayev said.

He added that the two countries are set to remain in close contact.

Yanukovych thanked Nazarbayev for the opportunity to meet with his colleagues and hold talks in a broad format.

Yanukovych is on a visit working to Astana on May 28-29. Astana will host a meeting of the Supreme Eurasian Economic Council - the supreme body of the Customs Union and the Common Economic Space of Russia, Belarus and Kazakhstan. After the meeting, Russian President Vladimir Putin, Nazarbayev and Belarusian President Alexander Lukashenko will hold meetings with the leaders of Ukraine and Kyrgyzstan and a meeting in a five-sided format.

It is expected that at this meeting the Ukrainian side will raise the issue of the format of its possible participation in the Customs Union. Ukraine hopes to receive observer status in the Customs Union and has for a long time been holding talks on this subject.

AD
AD
AD
AD
AD