Ukraine and Indonesia to cooperate in agriculture and defense industry

Ukraine economy, doing business in Ukraine: Ukraine and Indonesia to cooperate in agriculture and defense industry

This article deals with the official visit of the #President of Ukraine to the #Republic of Indonesia and expectations of facilitation of #business cooperation between two countries following the visit.

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

The President of Ukraine arrived to Indonesia with the official visit during which he will conduct meetings with the official representatives of the Republic of Indonesia, including the president, chairman of the parliament and key ministers. In addition, the President will also attend the Indonesia-Ukraine business forum.

A number of important agreements are expected to be signed during the visit. In particular, the President of Ukraine wants to conclude the agreement on cooperation in defense industry and the memorandum on cooperation in agriculture. Indonesia is interested to import Ukrainian wheat, flour, cereal, eggs and starch. The latest data shows significant growth of trade turnover between Ukraine and Indonesia: in January-May 2016 it amounted to USD 137.5 million (2.7 times increase compared to the same period in 2015).

We note that earlier the President of Ukraine was visiting Malaysia. During his visit 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, was signed. 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. 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. 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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