December 10, 2013

 

Ukraine to export soy, barley to China in 2014

 

 

Agrarian Policy and Food Ministry of Ukraine and the General Administration of Quality Supervision, Inspection and Quarantine of China have signed the protocols of phytosanitary and inspection requirements, paving the way for Ukrainian soy and barley to enter the Chinese market in 2014.

 

The Ministry also plans to prepare phytosanitary protocols for exporting rapeseed and wheat to China by next year.

 

This is according to the Information-Analytical Bulletin of the cabinet of Ministers of Ukraine.

 

The signing of protocols was a logical consequence of successful negotiations President Viktor Yanukovych had during his visit to China.

 

Prysyazhnyuk said, "The export potential of Ukraine is growing. Therefore, the government continues a systemic effort to expand geography of exports of domestic agrarian produce. After all, it is the objective that has been repeatedly emphasised by president and it is an integral part of the Development Strategy for agricultural sector 2020. The Chinese market is very attractive for Ukraine in terms of expanding supply of grain and oil crops."

 

Experts note that the protocols should help increase the share of domestic agricultural products in total trade with China. They will also help attract Chinese investment to the domestic economy. During negotiations, the Government of China declared that Chinese investments in the Ukrainian economy, including in the agricultural sector, could reach US$8 billion in the coming years.