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India, Ukraine sign agreements to enhance cooperation

Source : ANI
Last Updated: Mon, Dec 10, 2012 10:13 hrs

India and Ukraine on Monday signed five agreements to enhance cooperation including in areas of defence, nuclear and science and technology.

The two countries also agreed to raise bilateral cooperation to comprehensive partnership level and also to remove barriers in trade and commerce.

The agreements were signed after delegation level talks between visiting Ukraine President Victor Yanukovich and Prime Minister Dr. Manmohan Singh at the Hyderabad House here.

The pacts also include a memorandum of understanding between the Atomic Energy Regulatory Board of India and the Ukranian Nuclear regulator for cooperation in nuclear safety, construction design, operation and nuclear waste management.

Diplomatic relations between India and Ukraine were established in January 1992. Thus, the visit of the President marks the 20th anniversary celebrations of the establishment of diplomatic relations between the two countries.

The previous visit at the presidential level was that of former President A.P.J. Abdul Kalam who visited Ukraine in 2005.

Cooperation between India and Ukraine is multi-faceted and covers a wide range of areas including political, defence, science and technology , nuclear, space, economic and trade.

The bilateral trade turnover has increased from USD138.62 million in 1992 to USD 2,865.45 million in 2011-12. Indian pharmaceutical exports to Ukraine are the largest by volume and second in terms of value (USD 325 million in 2011) for the past several years. India imports 25 percent of sunflower oil products from Ukraine, which is amongst the world's largest producers of sunflower oil.

The fourth India-Ukraine Inter-Governmental Commission on Trade, Economic, Scientific, Technological, Industrial and Cultural Cooperation held in May/June 2012 reviewed the sectoral cooperation between the two countries setting the agenda for the visit of the President. (ANI)




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