Ukraine and Iran signed a memorandum on economic cooperation

This article discusses provisions of the recently signed #memorandum on mutual understanding between #Ukraine and Iran, which aims at intensification of #trade and science cooperation between the countries.

Visit our website if you are interested in the #Ukrainian economy or #doing business in Ukraine.

During the Fifth meeting of the Intergovernmental Ukrainian-Iranian joint commission for economic and trade cooperation a memorandum of mutual understanding was signed by the parties, in which all the areas of cooperation between Ukraine and Iran are specified with concrete steps for implementation of such cooperation.

One of the key areas of cooperation is agriculture. Ukraine is ready to export grain, vegetable oil, animal products, live cattle, sugar and confectionery, fruit and vegetables to Iran. In its turn, Iran is interested in exporting agricultural products to Ukraine, including dried fruit, shrimp, fish, etc. In addition, Iran was also offered to invest in the forest and fisheries sectors of Ukraine and create joint ventures for breeding and rearing of sturgeon, salmon and other fish species.

The other important area of cooperation is logistics and infrastructure. Ukraine invited Iranian business to participate in privatization process for various state enterprises. In addition, a joint committee on investment is going to be established for development of various forms of investment, including under public private partnership.

Iran is also looking for establishment of close cooperation in aviation, in particular in modernization of AN-140-100 plane and its joint manufacturing, including its new modifications, and in marketing and sale of AN-158 in Iran and the Gulf region. Ukrainian companies are invited to cooperate with Iranian companies in machinery, mining and related spheres. Moreover, a possibility for transit of oil through the territory of Ukraine to the European countries was discussed.

We note, that earlier Ukraine signed a memorandum on mutual cooperation with Italy, which defines possibilities of cooperation between two countries in the area of agriculture and related fields in Ukraine.

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