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China, Ukraine to Boost Agricultural Trade
USAgNet - 07/23/2012
China and Ukraine are in talks about deepening trade links, particularly in the food and agriculture sector. Top government officials from both countries talked about starting importing Ukrainian corn to the Chinese market during a recent meeting in Beijing.
Oleg Bakhmatyuk, chairman of the board of Ukrlandfarming Plc, the largest Ukrainian agro-industrial company, said he had been encouraged by talks between Minister of Agriculture Han Changfu and Ukrainian Foreign Minister Konstyantyn Hryshchenko.
"Chinese government officials have attached great importance to agricultural cooperation with Ukraine and we believe we will soon have market access for Ukrainian corn to enter China," Bakhmatyuk, who was part of the official Ukraine delegation, told a news conference.
He also said his company was in talks with major Chinese food companies, such as China National Cereals, and China Oil and Food Corporation, the country's largest State-owned food conglomerate, about sales of Ukrainian corn into China, and that the signs were clear that the two countries will enhance their
commercial ties.
In 2011, bilateral trade stood at $10 billion, well ahead of the target set by two governments.
China imported 1.88 million metric tons of corn during the first five months of this year, official data showed, compared with the total corn imports of 1.75 million in 2011.
Analysts agree that the two countries are highly complementary in the agricultural sector, and food imports from Ukraine could help reduce China's reliance on traditional suppliers such as the U.S.
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