In the course of the official visit to Malaysia, President Petro Poroshenko had a meeting with Malaysian businessmen. The Head of State noted that business forums allowed better understanding of prospects and opportunities for cooperation and expressed hope that a new page in bilateral economic cooperation would be opened.
The President reminded that the first Ukraine-Malaysia business forum had taken place in Kyiv in 2003. “It has been a long time, but now we have plenty of opportunities,” Petro Poroshenko emphasized.
According to the Head of State one of the purposes of his visit to Malaysia is the discussion of prospects for cooperation between the countries. “Today is a good time for Malaysian investors to come to Ukraine, which provides many opportunities in different sectors of economy,” he said. In particular, the promising areas are agriculture, information technology, space and aviation, defense industry, high-tech manufacturing. “We are planning a large-scale privatization of state enterprises on a competitive and transparent basis, as well as the corporate governance reform,” the President stressed noting that the list of those objects included, inter alia, energy companies, ports and chemical plants, railway, transport and aviation companies etc.
The Head of State told about the reformation strategy of Ukraine and its first results: restoration of macroeconomic stability, recovery of the banking system, progress in the reform of deregulation, reduction of the number of taxes and scheduled and unscheduled inspections of the State Tax Service. Since 2012, Ukraine has risen by 56 positions in the Ease of Doing Business Rankings. “The FTA Agreement between Ukraine and the EU provides huge opportunities for investors. We would like to invite you to use them. Ukraine can become the gates to the EU market for Malaysian business,” the Head of State emphasized.
According to the President, Malaysia, in its turn, can become the gates for Ukrainian business in the region.
Petro Poroshenko emphasized: “There is a Malaysian saying: “To bend a bamboo, start when it is a shoot”. Ukraine is also a “shoot”. One should invest in Ukraine today”.
The Head of State noted interest in Malaysian experience in cutting-edge innovations and expressed hope that the Ukraine-Malaysia trade committee would start functioning soon. “It will give a significant boost to the development of our bilateral trade-economic relations,” Petro Poroshenko said recalling that Malaysia was ranked 10th among trade partners of Ukraine in the Asia-Pacific region the year before.
“Today, we have a good starting point to use the entire potential of our economic relations. We are interested in long-term and fruitful cooperation with Malaysia,” the President stressed. He believes Malaysia can enter the top-3 Ukrainian trade partners in Asia Pacific.
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