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China and Ukraine signed an intergovernmental cooperation agreement in infrastructure development

On June 30, Minister of Commerce Wang Wentao and Minister of Infrastructure of Ukraine Oleksandr Kubrakov signed the Agreement between the Government of the People's Republic of China and the Government of Ukraine on Deepening Cooperation in Infrastructure Development on behalf of their governments.

According to the agreement, China and Ukraine encourage enterprises and financial institutions of the two countries to actively cooperate on roads, bridges, rail transit and other areas, and promote closer economic ties between the two countries, and will provide necessary help and support for the implementation of cooperation projects.

China and Ukraine are strategic partners actively conducting Belt and Road cooperation. In recent years, economic relations and trade between the two countries have developed further, and cooperation in infrastructure has shown good momentum. The value of newly signed contracts by Chinese enterprises in the Ukraine contracted project market have exceeded USD2 billion for two consecutive years, making contributions to the implementation of economic development projects in Ukraine. At present, the Ukrainian government is implementing the large-scale infrastructure initiative, actively promoting the upgrading and transformation of infrastructure in transportation, electricity and other fields. China-Ukraine cooperation in infrastructure has great potential and broad prospects.

2021 marks the 10th anniversary of the China-Ukraine strategic partnership. The signing of the Agreement is a concrete action of deepening economic cooperation and trade between the Chinese and Ukrainian governments, which responds to the needs of enterprises of the two countries to strengthen mutually beneficial cooperation and serves the common interests of both sides. Both China and Ukraine hope to deepen cooperation in infrastructure development between the two countries through this agreement, help build closer bilateral economic ties and lay a more solid foundation for the development of China-Ukraine strategic partnership.