Ukraine, Italy intensify cooperation

“For today, Italy ranks third in terms of the volumes of bilateral goods turnover of Ukraine with European countries,” the Ukrainian minister said. The meeting participants discussed, in particular, the prospects of cooperation in energy, airspace industry, shipbuilding and ship-repairing, motor industry, telecommunications, and tourism. Ukraine imports from Italy mainly machines and general-purpose equipment, light and footwear industry products, furniture, while Italy sells Ukraine ferrous metals and products made of them, energy products, oil and oil procession products, building materials, leather, cereals and animal or vegetable products, wood and wood-made products, inorganic chemistry products. According to the State Statistics Committee of Ukraine, as of early year, Italy has invested in Ukraine's economics USD 914.3 million, which makes 2.6% of the total volume of foreign investments. According to the Economics Ministry of Ukraine, in 2008 the volume of foreign trade in goods and services between the two countries went up 20% to USD 5.6 billion.