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Perspectives of ukrainian-china cooperation in the industrial field: china's interests and possibilities of ukraine

Author

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  • Vitalii Venger

    () (The State Organization “Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine”)

Abstract

The article examines the existing state of the Ukrainian-Chinese cooperation. It is revealed that at the present relations between Ukraine and the People's Republic of China undergo a certain test. During the period of Ukraine's independence, these relations, in general, developed on the ascending and reached the highest point of development in December 2013 when the Treaty on Friendship and Cooperation between the two countries was signed. At the moment, the political changes that are taking place in Ukraine have somewhat suspended the development of bilateral relations. The main directions of cooperation of the PRC with other countries within the framework of the project "One Belt, One Way" are outlined. In this context, it has been established that China is a conscious supporter of Ukraine's European integration and has always regarded Ukraine as an "important European state". In particular, the leadership of China welcomed the signing of the Association Agreement between Ukraine and the EU and is considering Ukraine's participation in the development of the "New Economic Belt - The Great Silk Road" on the personal initiative of the Head of the People's Republic of China. In case of a successful implementation of this ambitious Chinese project Ukraine will have a fundamentally new geopolitical position - "The first European country on the Silk Road". The possibilities and advantages of Ukraine in case of its involvement in the project "One Belt, One Way" are analized. These include: the activation of the trade- economic cooperation by increasing the volume of trade in high-value goods and high technology products; realization of fundamental projects; expansion of mutual investments; intensification of cooperation in the spheres of high technology such as aviation, shipbuilding, bioengineering as well as development of new materials. The promising areas of Ukrainian-Chinese cooperation are indicated. It is stated that the most powerful and long-term basis for cooperation between Ukraine and the People's Republic of China is science and technology. In terms of the urgent need for rapid and effective modernization of the Ukrainian economy, the perspective directions of the Ukrainian-Chinese co-operation are determined. In the conditions of the urgent and effective modernization of the Ukrainian economy, setting it on the rails of the modern world market the investment, manufacturing,scientific and technological capabilities of the People's Republic of China can become for Ukraine an mportant resource of development and modernization of the relevant branches of our economy, an impetus to restore the position of our state in the world technology markets. Also, it provides the opportunity for the Chinese business to take the appropriate niches in the Ukrainian market that is now in the proceess of being integrated with the EU. Serious perspectives for the interaction of Ukraine and the People's Republic of China open in such a structurally generating sphere as laying transport corridors and the supply of Asian goods to European countries.The potential threats from activating bilateral cooperation in the industrial sphere, which, first of all, lie in the possibleredirection of the target investment, are also outlined

Suggested Citation

  • Vitalii Venger, 2018. "Perspectives of ukrainian-china cooperation in the industrial field: china's interests and possibilities of ukraine," European scientific journal of Economic and Financial innovation, "European Association of Economists", vol. 1, pages 4-13, November.
  • Handle: RePEc:efn:journl:v:1:y:2018:p:4-13
    DOI: 10.32750/2018-0101
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    Keywords

    Ukrainian-Chinese cooperation; Silk Road; investment potential; modernization; joint projects;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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