India, Ukraine seek to broaden bilateral ties

NEW DELHI: Seeking to broaden bilateral ties, India and Ukraine today explored ways to expand cooperation in diverse sectors such as trade, nuclear energy, coal mining, pharmaceuticals, healthcare and science and technology.

Both sides held wide-ranging discussion to enhance cooperation in these sectors at the fifth session of the India-Ukraine Inter-Governmental Commission on Trade, Economic, Scientific, Technological, Industrial and Cultural Cooperation here.

The session was chaired by Minister of State for External Affairs E Ahamed while the Ukrainian delegation was led by Ihor Mykolayovych Prasolov, Minister of Economic Development and Trade.

He was accompanied by a 15-member official and 12-member business delegation from Ukraine.

Both sides agreed that there was vast untapped potential to increase trade beyond the existing level of USD 3.2 billion annually.

They felt that removing temporary obstacles of visas and problems being faced by Indian pharmaceutical companies in export of medicine to Ukraine would help both the countries forge a truly comprehensive partnership.

Pharmaceuticals constitute the bulk of India's exports to Ukraine amounting to about USD 375 million per annum.

Sources said the Ukrainian side agreed to address the concerns of Indian pharmaceutical companies operating in Ukraine. Both sides also agreed to work on an agreement on simplification of visa procedures to ease movement of business people and tourists.

An MoU for cooperation in joint ventures and research in pharmaceuticals and bio-pharmaceuticals between the Ministry of Chemicals and Fertilisers and Ukrain's State Administration on Medicinal Products was also signed.

Officials said the meeting reviewed the current status and future prospects of cooperation in diverse sectors including trade and investment, fertilisers, nuclear energy, science and technology, pharmaceuticals and mining.

The fourth session was held in Kyiv in June 2012. Prasolov and his delegation also held a meeting with E M Sudarsana Natchiappan, Minister of State for Commerce and Industry. The Ukrainian Business Delegation later held an interactive session with business community organised by the FICCI.

The two sides agreed to hold the next session of the Commission in Kyiv next year.