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New Delhi, Apr 3 (UNI) India and Ukraine have identified potential sectors where both sides could engage in bilateral trade since presently the share of trade between both sides is quite low as compared to total trade made with the rest of the world. Both sides agreed to share the list of products which they would like to trade.
Both Sides intend to continue their joint activities aimed at further expanding their bilateral trade in agricultural and food products and agreed to hold bilateral consultations on possible approaches to liberalization of trade in agricultural and food products.
Both Sides expressed interest in cooperation in exporting agricultural items such as sugar (raw and refined), sugar confectionery, apples and other such things.
In 2017-18, exports from India was USD 330.10 million, imports from Ukraine at USD 2355.97 million and total trade at USD 2686.07 million.
In 2018-19 (Apr-Feb) (Prov), exports from India was USD 305.73 million, imports from Ukraine at USD 1921.70 million and total trade at USD 2227.43 million.
Both sides agreed that trade was far below the potential and there was a need to step up their cooperation to enlarge the trade basket and increase the bilateral trade and investment. There is trade deficit on the part of Indian side and both sides agreed to find out the modalities to reduce it further.
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