November 11, 2011

 

China seals US$10-billion agricultural investment in Ukraine
 

 

The Export-Import Bank of China (China EXIM Bank) and China CMIIC Engineering & Construction Corp recently concluded an agreement with Ukraine government to invest US$10 billion in Ukraine to boost grain and animal husbandry.

 

In addition, China EXIM Bank and China CMIIC Engineering & Construction inked a memorandum with the council of ministers of the Autonomous Republic of Crimea (a sub-unit of Ukraine) on agricultural cooperation, planning to build a grain base, a vegetable and fruit storage base and an integrated poultry breading base there.

 

An official from Ukraine government said the state attached high importance to economic cooperation with China. From January to July of this year, Ukraine's export volume to China surpassed US$1 billion, chalking up on-year growth of nearly 74%.

 

Its import volume from China amounted to nearly US$4 billion, making a new record. The official also disclosed that Chinese government would enhance investment in Ukraine from next year.