Ukraine and China Sign Agreement on Cooperation in Infrastructure Construction

Monday, July 5, 2021
Ukraine and China Sign Agreement on Cooperation in Infrastructure Construction

The agreement was signed to strengthen cooperation in infrastructure and expand economic ties between the two countries. This was announced on Sunday by the Ministry of Commerce of China (MOFCOM), writes "Silk Bridge News"

The agreement was signed on June 30. From the Ukrainian side, the document was signed by the minister of infrastructure Oleksandr Kubrakov, from the Chinese side by the minister of commerce Wang Wentao.

The agreement provides for the deepening of cooperation between the enterprises and financial institutions of the two countries within the framework of the projects on the joint development of automobile and bridge infrastructure and railway transit. Assistance and support in the implementation of joint projects are also expected.

"China and Ukraine are strategic partners and are actively pursuing cooperation in the joint construction of the Belt and Road. In recent years, economic and trade relations between the two countries have developed deeply, and cooperation in infrastructure has shown good development dynamics," MOFCOM said in a statement. The value of new contracts signed by Chinese companies in Ukraine's contract engineering market has exceeded $2 bln for two years in a row.

On June 10, the Chinese ambassador to Ukraine Fan Xianzhong met with the first deputy prime minister of Ukraine — minister of economy Oleksiy Lyubchenko. Then the parties drew attention to the importance of signing an intergovernmental agreement on deepening cooperation in the construction of infrastructure. As noted in the government, this will allow beginning preparatory work for the launch of investment projects, including the construction of M-22 Poltava-Alexandria road and the first part of the Kyiv ring road — sections M05-M06, which will cost about $1,1 bln.

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