The First Vice Prime Minister and Minister of Economic Development and Trade of Ukraine Stepan Kubiv underlined that the relations between the State of Qatar and the Republic of Ukraine are being strengthened in all fields.

Kubiv said that the visit of the President of the Republic of Ukraine Petro Poroshenko to Qatar in March witnessed the beginning of a new phase of advanced relations that paved the way for more cooperation in the fields of trade, economy, industry and investment.

In statements to Qatar News Agency (QNA), the Vice Prime Minister said that though the volume of mutual investments between the two countries is still below $100 million dollars, which is less that the desired levels, there are positive indicators of a promising future of cooperation in various areas of the economy. The surge in trade volumes by 30% to reach 50% is one such indicator.

Kubiv noted that the two countries are making tangible progress in promoting the economic cooperation.  The opening of a new direct flight route between Qatar and Ukraine is one of the factors that is conducive to the working together by the two countries.

 Tourism, smart products, agriculture, infrastructure etc too are witnessing new levels of cooperation.

The Vice Prime Minister also pointed out that Ukraine enjoys economic stability and the country has registered an economic growth of 4% this year.

Kubiv said that a number of bilateral agreements including pacts to protect and encourage mutual investments, to avoid double taxation, and to implement the visa exemption system are strengthening the mutual cooperation.

The Vice Prime Minister said that during his visit to Qatar, he co-chaired the first meeting of the Qatari-Ukrainian Joint Committee for Economic, Commercial and Technical Cooperation with HE Qatar's Minister of Commerce and Industry HE Ali bin Ahmed Al Kuwari, in the presence of a number of economic experts from both sides to formulate the joint agreements issued by these meetings, which will be held by the Committee on an annual basis.

The most important outcome of the cooperation of the two countries are the formation of the joint Qatari-Ukrainian Committee, the establishment of direct links and contacts between businessmen of the two countries and the establishment of communication channels between the Chambers of Commerce in Qatar and Ukraine, said Kubiv.

He noted that the delegation accompanying him on his visit to Doha includes a number of prominent officials in the fields of energy and infrastructure, as well as representatives of 20 companies from both the private and public sector specializing in the fields of military defense, specialized products, and other areas of investment and innovation.

Many number of important issues including the investment situation in his country, the achievements made through the privatization of companies and the legislation to promote investment, the government-offered incentives to encourage the private sector companies in SME sector to partner with the public sector are discussed, said Kubiv.

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