Ukraine's State Food and Grain Corporation and China's Xinjiang Production and Construction Corps (XPCC) have signed a memorandum on cooperation in supporting priority projects in agriculture. Chinese investment in Ukraine's agricultural sector will reach more than $2.6 billion.

This was announced at a meeting between Ukrainian farmers and XPCC representatives in Kyiv on August 3.

Chairman of the Board of Directors at KSG Agro Sergiy Kasianov, who will participate in the investment program, named the amount of investment unprecedented for domestic agriculture.

"The implementation of investment programs with Xinjiang Production and Construction Corps will help realize a number of initiatives set out in the National Action Plan. The issue concerns the creation of new jobs at agricultural enterprises, the provision of citizens with high-quality food, and an increase in the export potential of the Ukrainian agricultural sector," Kasianov said.

He said that the Chinese side invests not only money, but also technology in the Ukrainian agricultural sector.

"Xinjiang Corporation cultivates about two million hectares of land and uses modern technology to grow wheat, corn, soybeans, cotton and other crops. But they are also interested in purchasing Ukrainian agricultural products. Therefore, we will receive not only financial and technological assistance, but also a reliable market," Kasianov said.

During the visit, the Chinese delegation headed by the XPCC president will visit agricultural enterprises in Dnipropetrovsk region and get acquainted with Crimea's port capabilities.

Ukrinform