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Ukraine establishes center to promote Belt and Road trade, investment

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The Ukrainian Chamber of Commerce and Industry (UCCI) on Thursday inaugurated the "One Belt One Road" Trade and Investment Promotion Centre in Ukraine.

XinhuaUpdated: July 6, 2018

The Ukrainian Chamber of Commerce and Industry (UCCI) on Thursday inaugurated the "One Belt One Road" Trade and Investment Promotion Centre in Ukraine.

The center will serve as a bridge between entrepreneurs from China, Ukraine and other Belt and Road countries, helping them to find new business partners.

Gennady Chizhikov, president of the UCCI, said that the center was set up, first of all, because more and more Ukrainian businessmen are becoming interested in entering the Chinese market.

"For Ukraine, for the Ukrainian business, China is one of the most important economic partners. Over the past year, the Ukrainian business has been showing an increasing interest in cooperation with China," Chizhikov told Xinhua.

While speaking on the functions of the newly-created center, Chizhikov said it will provide consulting services on business and investment opportunities in China and in Ukraine and assist entrepreneurs in participating in specialized forums and exhibitions.

To better organize the work of the center, the UCCI has appealed for the assistance to the China Council for the Promotion of International Trade (CCPIT), which has a vast experience in facilitating trade and investment around the globe, Chizhikov said.

Jiang Zengwei, the chairman of the CCPIT, said the Chinese side stands ready to assist the Ukrainian partners in developing the "One Belt One Road" center for the benefit of the businesses of the two countries.

"I hope that within the framework of the Belt and Road Initiative, through the cooperation between China and Ukraine and especially between our chambers of commerce, we will manage to provide Chinese and Ukrainian enterprises with more opportunities for trade and investment, as well as for mutual growth and development," Jiang told Xinhua.

Earlier in the day, Jiang and Chizhikov held talks to discuss the current state and the prospects of the Ukrainian-Chinese trade and economic cooperation and the ways of providing practical assistance to business representatives of both countries.

During the talks, the leaders of the CCPIT and the UCCI signed a Memorandum of Understanding (MoU) for the establishment of the Silk Road business council.

"For us -- for Ukraine and for the Ukrainian Chamber of Commerce and Industry, this is a very significant event," Chizhikov said at the talks, voicing his hope that the establishment of the business council will promote trade between China and Ukraine.

Last year, the bilateral trade turnover between the two countries surpassed 7 billion U.S. dollars, Chizhikov said, noting that there is a potential to boost it to 10 billion dollars in the coming years.

For his part, Jiang has called for the efforts to push forward the cooperation between the CCPIT and the UCCI.

"We must do our utmost to ensure a breakthrough, a new milestone, in both -- in the development of our countries and in the development of our joint cooperation," Jiang said.

During his visit to Kiev, Jiang also held talks with the Ukrainian First Deputy Prime Minister Stepan Kubiv.