: New trade route connecting the E.U. and China will go through Ukraine and Central Asia
Business18:30 May. 27, 2016
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New trade route connecting the E.U. and China will go through Ukraine and Central Asia

Ukrainian government and business hopeful New Silk Road will boost trade and economy

Ukraine, Georgia, Azerbaijan and China are planning to launch the so-called new Silk Road - a trade route connecting the E.U. and China. In September a high-level summit on the new Silk Road is planned to take place in Kyiv and earlier this week a pre-summit meeting got together Ukrainian government officials, businessmen and foreign trade representatives.

The participants of this meeting discussed the importance of the new Silk Road for economies of the counties along the road. It is expected to be an alternative link connecting the E.U. and China to the northern route, which goes entirely through Russia.

Vladyslava Rutytska, Deputy Minister of Agrarian Policy and Food of Ukraine on European Integration: "All our producers absolutely understand that this is only one way that we could use because of the Russian restrictions."

Watch also The New Silk Road: Has Ukraine's bid to become a global trade hub proved successful?

But the new Silk Road will serve not only the Ukrainian companies.

Vladyslava Rutytska, Deputy Minister of Agrarian Policy and Food of Ukraine on European Integration: "We can serve the needs of the North European countries to go through us for further trade with china and with the countries like Georgia, Kazakhstan and Azerbaijan."

Read also First freight train from Ukraine to Central Asia reaches destination

But for the new Silk Road to run smoothly still a lot needs to be done. Among other things – improvement of Ukrainian ports and railroad infrastructure. And looks like the Ukrainian business is positive about the government's support here: 

Yuriy Vakhel, EBA Logistics Committee co-chair: "And I think in the current situation, when the government not just listens, but also started hearing business. I'm an optimist, I feel, I sniff the changes."

With the big plans and high spirits the new Silk Road is a unique opportunity not just for the Ukrainian businessmen, but for the entire country as well.

This is Volodymyr Solohub and Dmytro Opanasenko reporting from Kyiv for Ukraine Today

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