Korea to increase investments in Ukraine’s agriculture

The Republic of Korea will increase investment in the agricultural sector of Ukraine. The statement has been made on November 28 at the meeting of the Agrarian Policy and Food Ministry of Ukraine delegation headed by the first deputy minister Ivan Bisyuk with the delegation of the Republic of Korea, the Agrarian Policy Ministry press service informs.

The parties have discussed the issues of bilateral cooperation in the agricultural sector and signed a memorandum of cooperation in agriculture between the Republic of Korea and Ukraine.

Opening the meeting, Bisyuk noted that economic and political relations between Ukraine and the Republic of Korea are very important direction of Ukraine’s foreign policy in Asia.

“It is proved by the fact that for the first 9 months of this year, bilateral trade turnover of agricultural products has amounted to more than $ 215 million and has increased 5-fold compared to last year. Among 5.5 million tons of wheat exported from Ukraine this year, nearly 1 million tons have been shipped to Korea. This is a significant amount,” Bisyuk said.

He added that Ukraine is interested in studying the experience of Korea in implementing investment projects in agriculture and rural development.

In turn, food, agriculture, forestry and fisheries minister of the Republic of Korea Kyu Jong Su emphasized the importance of Ukrainian agricultural products export, including wheat, in Korea and said that the signing of the memorandum of cooperation in agriculture between the two countries would increase agricultural trade turnover and deepen cooperation in various fields of agriculture of Ukraine and the Republic of Korea.

“Ukraine is a stable partner for agricultural products supply. Today, the representatives of our agricultural business are willing to invest in Ukraine’s agriculture,” Kyu Jong Su said.

The parties agreed that the potential of bilateral cooperation allows considering an increase in exports of Ukrainian agricultural products. The signing of the memorandum of cooperation in the fields of agriculture, forestry and fisheries is expected to give a new impetus to the development of relations in these areas.


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