Yanukovych: Economic cooperation with China a determining factor for modernization of Ukrainian economy

The development of strategic cooperation with China is a priority of Ukraine's foreign policy and a determining factor for the successful modernization of the national economy, Ukrainian President Viktor Yanukovych has said.

"Ukraine considers China as a leading country with enormous prestige in the international arena. China is a strategic partner for us. It is one of the guarantors of nuclear safety for Ukraine. Therefore, the positive development of relations with Beijing is a priority of our foreign policy. Moreover, fruitful economic cooperation with China is one of the determining factors for the successful modernization of the Ukrainian economy," he said in an interview with Xinhua, the text of which was posted on the Web site of the Ukrainian president on Monday.

Yanukovych noted that the upcoming signing in Kyiv of a declaration on strategic cooperation between Ukraine and China was "an important achievement thanks to joint efforts from both sides."

"The strategic partnership will push the bilateral ties to a brand-new level, and will allow the concentration of joint efforts on implementing large-scale projects of mutually beneficial cooperation," he said.

Yanukovych said that the two countries had to do a great deal of work to implement a declaration on the establishment and development of relations of strategic partnership.

"To do so, we will use all of the existing mechanisms, including the recently created intergovernmental commission on cooperation," Yanukovych said.

He said that Ukraine had a positive dynamics of the development of bilateral relations with China.

Yanukovych said that during the Chinese president's visit to Ukraine on June 18-20, the sides would sign a package of documents concerning specific projects on cooperation in the energy sector, the chemical industry and agriculture.

"We want to base our cooperation on innovative approaches and the introduction of high technology. Ukrainian-Chinese industrial parks are already working on it, and we want to intensify this work," Yanukovych said.

He said that Ukraine had put forward some attractive proposals concerning cooperation in such sectors as mining, chemicals, agriculture, energy and aircraft manufacturing.

Yanukovych also stressed the need to develop new modern mechanisms of trade and economic cooperation between Ukraine and China and new financial instruments to guarantee China's investment in Ukraine.

"In general, the potential of Ukrainian-Chinese cooperation in all spheres is so enormous that it allows us to look optimistically into the future," he said.