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Ukraine Seeks Growth in Russian Investment to Boost Its Industrial Exports
30 June 2010
Ukraine is seeking closer cooperation with Russia to help industrial companies attract investments and improve their access to world markets, Industrial Policy Minister Dmytro Kolesnikov said.

“Cooperation with Russia in aviation, the defense industry and energy equipment building will help Ukraine become a more important player on world markets,” he said at a press conference in Kiev today. “Ukrainian know-how in aviation has to unite with the large Russian market and Russian investments.”

Ukraine has focused on improving relations with Russia since President Viktor Yanukovych took office in February and formed a cabinet loyal to him in March. Two months ago in Kiev, Russian Prime Minister Vladimir Putin offered to merge OAO Gazprom and NAK Naftogaz Ukrainy, the countries’ gas monopolies, and to form a joint nuclear energy holding company.

The governments are also working to set up a fifty-fifty joint venture of Russia’s United Aircraft Corp and Ukrainian state aviation company Antonov OKB, Kolesnikov said. The new company will do sales, marketing and service aircraft, he said. Merging assets isn’t being discussed, according to Kolesnikov

Ukraine is also seeking a Russian partner for companies including VAT Turboatom, its biggest turbine maker, he said, adding that joint projects are also possible in shipbuilding.

Source: Bloomberg

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