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Putin pins hopes on Russian-Ukrainian cooperation in WTO format

August 25, 2012, 15:55 UTC+3
Putin believes that high technologies constitute one more sphere of promising cooperation for both Russia and Ukraine
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Photo EPA/ITAR-TASS

Photo EPA/ITAR-TASS

BOCHAROV RUCHEI, near Sochi, August 25 (Itar-Tass) – Russian-Ukrainian cooperation in the format of the World Trade Organization will open up new opportunities for bilateral trade, President Vladimir Putin said Saturday at the talks with visiting Ukrainian President Viktor Yanukovich.

“Russia and Ukraine launched cooperation quite some time ago and the new instruments /the ones that became available after Russia’s joining the WTO – Itar-Tass/ give us an opportunity to expand our trade and economic relations, which have significance for both our countries,” Putin said.

He recalled that Russia got a full-fledged membership of the organization a few days ago.

“Ukraine became a WTO member much earlier and besides our agreements make it possible for us to expand trade much farther,” Putin said.

“It’s an open secret that the main markets for Ukraine’s /manufactured/ products are found in Russia, to say nothing of the markets of agricultural products,” he said, adding that Russia accounts for 40% of Ukraine’s agricultural exports.

Putin believes that high technologies constitute one more sphere of promising cooperation for both Russia and Ukraine.

“I’ll be difficult for Russia and Ukraine to exist independently of each other in the nuclear power industry, space technologies, shipbuilding, aircraft manufacturing, and engine building,” he said.

Yanukovich gave assurances that Ukraine plans utilizing the new opportunities for developing trade with Russia in the format of the WTO.

“Russia is one of the main trade partners for Ukraine,” he said, offering Putin to discuss “the groups of commodities, for which the trade regulations will be changed.”

“Let’s speak about prospects, about the things that can be done to expand the markets,” Yanukovich said. “We’re interested in pooling our efforts with you so that we could work in third countries, primarily the ones making up the CIS and Asian countries.”

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