Ukraine, EBRD working on roadmap for cooperation to support agricultural sector

MOSCOW. Oct 15 (Interfax) - Shortage in capital investments is one of Ukrainian agricultural sector's problems, as the investments account for only 9% of annual GDP compared with the global figure of 30%, Ukrainian Agrarian Policy and Food Minister Vitaly Koval said at a meeting with representatives of the European Bank for Reconstruction and Development (EBRD).

"We must change this situation so that our agricultural producers receive more opportunities in the form of international projects. Ukraine is headed to the European Union, therefore an acceleration in such cooperation is crucial," Ukrainian media said, citing Koval's statement made during a working visit to Italy, according to the ministry's press service.

Koval said that higher share of advanced processing is important to Ukraine to switch from the raw-material economic model to value-added products.

"Today is the time for brave investors filled with an entrepreneurial energy and ready to build new businesses in Ukraine. And the EBRD's loan programs supporting such initiatives are more relevant than ever. It could be a common success story of the state of Ukraine, the EBRD and our business community," Koval said.

The parties agreed to hold additional meetings of joint working groups to substantively develop a roadmap for further cooperation.