Trade and economic relations between Ukraine and China
The trade and economic cooperation between Ukraine and China
Foreign trade cooperation between Ukraine and China is regulated by the Trade and Economic Cooperation Agreement between Government of Ukraine and Government of the People’s Republic of China (1992) that setting of most favorable regime regarding the duties levy for exported and imported goods of both countries as well as taxes and other domestic dues.
The current state of trade and economic cooperation (9 months of 2016)
According to information of the General Customs Administration of China, in January-September 2016 the trade turnover between Ukraine and China amounted to 5188,2 million USD. At the same time, Chinese exports to Ukraine amounted to 3126,3 million USD (+24.2%), Chinese imports from Ukraine amounted to 2061,9 million USD (-32.0%). Balance of bilateral trade in favor of China amounted to 1064,4 million USD.
According to the Ukrainian statistics, in January-September 2016 the main exports to China were: ores, slag and ash – 32,5%; cereals – 29.9%; fats and oils of animal or vegetable origin – 26%; wood and wood products – 2,6%; nuclear reactors, boilers, machinery and 2.5%. The imports from China consisted of electrical machinery is 22.5%; nuclear reactors, boilers and machinery – 17.1%; plastics, polymeric materials – 6.1%; ferrous metals – 4,4%; organic chemical compounds – 3,7%; diversified chemical products – by 3.7%; footwear – 3,5%; ferrous metals – 3%.
Bilateral investment cooperation
Bilateral investment cooperation does not correspond to the capacity of China and the needs of Ukraine. To increase the volume of import from China is not accompanied by the intensification of investment cooperation, Ukrainian investments in China, is also virtually absent.
According to the Ukrainian statistics, as of 01.10.2016 in Ukraine's economy attracted us 17.8 million USD investment from China (from the beginning of year this indicator decreased by $0.8 million). The largest volume of investment directed to enterprises in the agriculture, forestry and fishing – 39,6%, industry – 19,4%, wholesale and retail trade; repair of motor vehicles and motorcycles, and 11.2%, transport, warehousing, postal and courier activities – 11%. As 01.10.2016, the volume of investments from Ukraine to China totaled 1.3 million USD (from the beginning of year this indicator has not changed). The bulk of these investments aimed at the industrial enterprises is 42.2% (0.56 million USD).