Ukraine, China Billion-Dollar Business Deals

Posted June 20th, 2011 at 12:00 pm (UTC-5)
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China's President Hu Jintao has attended the signing of $3.5 billion in business deals with Ukraine.

Mr. Hu and Ukranian President Viktor Yanukovych on Monday praised the agreements as part of a new “strategic partnership” between the two nations.

The deals covered the energy, technology and trade sectors.

China's official news agency Xinhua has said the two countries are striving to increase their overall bilateral trade from just under $8 billion last year to $10 billion by 2012.

The report said China and Ukraine may also implement major joint projects and improve cooperation in science, technology and agriculture.

Ukraine is the last stop on President Hu's tour of three nations.

He arrived in Ukraine from Russia, where he met with President Dmitry Medvedev in Moscow and attended an international economic forum in St. Petersburg.

Before Russia, the Chinese leader paid a three-day visit to Kazakhstan, where he also attended a summit of the members of the Shanghai Cooperation Organization in Astana, boosting ties with Central Asia.

It was Mr. Hu's first visit to Ukraine.