Kazakh First Deputy PM attended 11th meeting of Kazakh-Ukrainian Economic Cooperation Commission

The protocol, which was signed by the co-chairs of the Interstate Commission after the meeting, envisages strengthening of bilateral cooperation in a wide range of areas, particularly in the energy and agriculture, mining and metallurgy, heavy engineering, aviation, chemical industries.

Over the past five years mutual trade between Kazakhstan and Ukraine has increased from USD 2.6 billion to 4.18 billion. Kazakhstan is the third largest trading partner for Ukraine in terms of trade in the CIS and eighth among all trading partners. Despite the dynamic growth of trade, the Kazakh and Ukrainian sides have agreed to exchange proposals on improving trade, economic and investment cooperation until the end of the year. In addition, the parties have approved the joint measures on preparation for the signing of the Ukraine-Kazakhstan Action Plan for 2013-2014 ("Road Map 4").

The commission also discussed the joint projects in the fuel and energy complex. Kazakh and Ukrainian experts have agreed to continue to exchange information on the key areas of energy development of the partner countries, schemes for energy projects, including financing, design, construction, operation and ownership of the facilities.

The co-chairs announced their intention to support the initiative of Kazakh and Ukrainian energy workers to create Kazakh-Ukrainian consortium of electrical engineering, which would consolidate the ability of both countries to implement programs on modernization of energy generation systems in Kazakhstan, building power lines and communications, establishing reliable security systems in the energy sector.

In the field of aviation the sides agreed to expedite the preparation of the Agreement between the Government of Kazakhstan and the Government of Ukraine on cooperation in this sphere.

The Kazakh side also proposed to enhance cooperation in the field of renewable energy, particularly in the area of improving the regulatory framework and in the field of technology transfer and development of domestic production of renewable energy.

The signed protocol will facilitate the further development and strengthening of mutually beneficial cooperation between the two countries in all key sectors of the economy, First Vice Prime Minister of Kazakhstan Bakytzhan Sagintayev stated.

The same day, Sagintayev met with Ukrainian Prime Minister Mykola Azarov. During the meeting the parties discussed topical issues of bilateral relations between our countries.

The next twelfth meeting of the joint Kazakh-Ukrainian Interstate Commission for Economic Cooperation will be held in Kazakhstan.