Ukraine and Malaysia to establish mutual cooperation in various fields

Ukraine economy, doing business in Ukraine: Ukraine and Malaysia to establish mutual cooperation in various fields

This article discusses the #economic and #political results following the #official visit of the #President of #Ukraine to #Malaysia, in particular in the areas of #agriculture, #trade, #military and #investment.

Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.

The President of Ukraine conducted a meeting with the Minister of Defense of Malaysia following which it was decided to expand cooperation of the counties in the area of military production. In addition, the parties agreed to establish an intergovernmental trade committee which will help business from both states to access the market of the other country and facilitate trade turnover between Malaysia and Ukraine.

Furthermore, the Minister of Foreign Affairs of Ukraine and the Minister of Finance of Malaysia signed the agreement on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income, which will significantly aid in development of business relations between two countries. Moreover, the agreement between on mutual legal assistance in criminal matters and the agreement on extradition of offenders were also signed at the meeting as well as regulation for easement of visa procedures for the citizens of Malaysia and Ukraine.

The President of Ukraine stated that at the moment Malaysia is the tenth largest partner of Ukraine in Asian Pacific region. However, he expects that following signing of the relevant agreements and establishment of the intergovernmental trade committee the trade turnover between both states will substantially increase and Malaysia becomes one of the main partners of Ukraine in the region.

The President noted that one of the key areas of mutual cooperation could be agriculture. Ukraine actively imports to Malaysia dairy, sunflower and soybean oil as well as wheat and wheat flour. Also, Malaysia is in the top countries that consume Ukrainian condensed milk. In addition, it is one of the largest consumers of Ukrainian dried beans.

The President of Ukraine also invited the Malaysian investors to visit Ukraine and take part in privatization of large and medium sized state entities.

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