New opportunities following business forums in Malaysia and Indonesia

Doing business in Ukraine, Ukraine economy: New opportunities following business forums in Malaysia and Indonesia

This article deals with the results of the #official visit of the #President of Ukraine to #Malaysia and #Indonesia and related #business forums in these countries, which led to conclusion of a number of #important #agreements and establishment of #new #business opportunities.

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

As reported earlier, the President of Ukraine was visiting Malaysia and the Republic of Indonesia. During his visit a number of important bilateral agreements were signed.

For example, the agreement on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income was signed in Malaysia. In addition, the agreement on mutual legal assistance in criminal matters and the agreement on extradition of offenders were also signed as well as regulation for easement of visa procedures for the citizens of Malaysia and Ukraine. Moreover, meetings were held with the aim to expand cooperation of the counties in the area of military production and 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.

In Indonesia the agreements were signed in the areas of military cooperation, education, agriculture and visa free regime. Perhaps, the most important development is the official launching of negotiations on a free trade zone agreement.

In addition, following business forums in the respective countries there was some significant investment activity spotted. For example, Malaysia Airports Holdings Berhad, an airport operating company, became interested in managing Boryspil airport, the largest airport in Ukraine. In addition, Petroliam Nasional Berhad (Petronas), a Malaysian national oil and gas company, expressed its interest in extraction of hydrocarbons and shale gas on the territory of Ukraine.

At the same time, Indonesian companies want to explore opportunities of import of Ukrainian-made electricity generation turbines and pharmaceuticals as well as agriculture products.

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