Ukraine seeks closer economic, trade ties with China

Ukraine should intensify efforts to fully tap the huge potential of economic and trade cooperation with China, Economy Minister Pavlo Sheremeta said Thursday. "We need to develop cooperation with China. Therefore, Ukrainian businessmen and enterprises heads should take the initiative in this matter," Sheremeta told a media briefing. He said China became Ukraine's second biggest trading partner in 2013, voicing his hope that the two countries would further expand trade ties this year. The minister pledged that his government would provide support for Ukrainian companies which had decided to do business with Chinese partners. According to the State Statistics Service, trade between Ukraine and China in 2013 went up 8.4 percent year-on-year to reach 10.63 billion U.S. dollars. Last year, Ukraine's exports to China jumped 53.4 percent from the previous year to 2.73 billion dollars, while imports remained unchanged at 7.9 billion dollars