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Romanian-Ukrainian bilateral trade exchanges reach up to 1.9 billion dollars in 2013

The Romanian-Ukrainian bilateral trade exchanges have reached a record level of 1.9 billion dollars in 2013, according to estimates, Secretary of State with the Ministry of Economy Mircea Toader on Thursday told a specialized conference.
'After we had, according to statistics, 1.7 billion dollars recorded in trade exchanges between Romania and Ukraine January through November 2013, it seems that, according to estimates, the volume of trade exchanges reached 1.9 billion dollars in the whole year 2013, with a positive balance for Romania of 600 million dollars. However, there wasn't so much of a variety of products traded between the two countries, which means that diversification should be our main concern for 2014. The cross-border trade could play an important role in the development of economic cooperation between Romania and Ukraine,' said Mircea Toader. The Bilateral Chamber of Commerce Romania-Ukraine, together with the Ukrainian Embassy in Bucharest, on Thursday organised a meeting with the business partners from the two states, which was focused on 'Promoting Opportunities of Economic and Commercial Cooperation between Romania and Ukraine.'

'There is a certain stability right now to be seen in the economic operations of businessmen from both countries, which is also reflected in the higher volume of bilateral exchanges. We hope that the relations to be established from now on between the Romanian and Ukrainian business operators will contribute to a further increase in this volume, since both markets have a potential still not exploited to its maximum. According to our statistics, in the first eleven months of 2013, the volume of bilateral trade exchanges between the two countries reached 1.318 billion dollars, up 0.4 percent compared with the same period in 2012. The participation of businessmen from the two countries in various exhibitions and economic missions will also contribute to an improvement in these figures,' Ukrainian Ambassador to Bucharest, Teofil Bauer stated.

According to what was discussed at the abovementioned conference, the cooperation between the two countries as participants in international projects, with Eximbank as partner, represents a viable solutions with respect to the development of economic cooperation.

The main elements of Romania's exports to Ukraine were in 2003 the mineral fuels, crude oil and refined products - 32 percent, transportation means - 11 percent, cereals - 8.5 percent, wood and wooden products - 8 percent, vehicles - 5 percent and ferrous metals - 5.2 percent.

With respect to Ukrainian exports to Romania, they consisted mainly of ferrous metals - 20.7 percent, minerals, slag and ash - 19 percent, wood and wooden products - 13 percent, shoes - 8 percent and electrical machines - 7.6 percent.

One of the main points of interests for the business environments in both countries is the development of the services sector, with emphasizes on tourism. In fact, a series of tour operators from Ukraine are expected in March to come to the Bucharest International Tourism Fair.

The joint actions programme of Romania and Ukrainian companies for 2014 was presented at the specialized conference.

There are 430 Romanian-Ukrainian joint ventures operating right now in Romania.