China, Ukraine Sign 12 Co-operation Agreements

Beijing and Kiev have signed 12 cooperation agreements on Thursday, covering areas in bilateral relationship, aviation industry, infrastructure construction, financing, electric power, etc.

Beijing and Kiev have signed 12 agreements on Thursday, the first day of the Ukrainian president’s four-day state visit to China, Xinhua reported.

The agreements involves a series of documents covering areas including bilateral relationship, aviation industry, infrastructure construction, financing, inspection and quarantine, customs, electric power, etc.

One of the 12 agreements was signed to secure China’s credit support to a 30-km railway project and construction of auxiliary facilities for an airport in Ukraine’s capital, Kiev, which will be put into operation three years later. The project was contracted to a Chinese firm, and is expected to cast 950 million U.S. dollars.

China Development Bank and the Industrial and Commercial Bank of China will provide about $1 billion worth buyer’s credit for this project.

The two parties also pledged to boost trading volume to 10 billion U.S. dollars annually by 2012. Statistics from Chinese government shows that trading volume in the first half between the two rose 31.3 percent year-on-year to 3.3 billion U.S. dollars.