Ukraine is attractive for investments

Ukraine is satisfied with the negotiations behaviour in economic and sector cooperation between Ukraine and the EU. Economics Minister Bohdan Danylyshyn stated taking the floor at the 11th session of the Ukraine-European Union Cooperation Committee.

The Economics Minister noted that three years on end the European Union is the main partner of Ukraine as one third of Ukraine’s foreign trade turnover makes up trade with the EU.

On the results of 9 months of the current year the EU’s share in foreign trade turnover of Ukraine made 31,5%. The foreign trade turnover of goods and services with countries – the EU members in January-September 2008 increased as against January-September 2007 by 45% and totaled USD 42 billion 580 million.

One of the basic elements of economic integration, Bohdan Danylyshyn stressed, remains the creation of a free trade area between Ukraine and the EU. In the Minister’s opinion, it is important to coordinate issues within the framework of the provisions on free trade area, chapters concerning the economic and sector cooperation, holding a dialogue on trade protection instruments, protection of intellectual property rights, agriculture cooperation.

“Today Ukraine still remains attractive for investments,” Bohdan Danylyshyn said.

Note: Summing up three quarters of 2008 the increase of direct foreign investments totaled above USD 8 billion that is by 54% more as against the same period of the last year. In particular, from the beginning of the year the EU investments totaled USD 7 billion that is 83,2% of total investments. Total direct foreign investments to Ukraine totaled USD 37,6 billion including the EU member-states – USD 29,8 billion. The greater part of foreign investments aimed at the industry (24,3%), including the processing industry (20,7%) that promotes the increase in competitive capacity of domestic enterprises and financial activity (19%) giving quick return of capital and minimizing risks.