In the course of the visit, the head of economic department will take part in 40^th session of the Economic Council of the Commonwealth of Independent States.

Furthermore, it is expected that the Minister of Economic Affairs of Ukraine, B. Danylyshyn, will meet with the Minister of Economic Development of the Russian Federation, E. Nabiulina.

At present, the Russian Federation is one of the leading economic partners of Ukraine. In 2008, the volume of trade in goods between Ukraine and the Russian Federation had tended to its further expansion.

For example, according to the information, provided by State Statistical Committee of Ukraine, during 9 months, 2008, the volume of foreign trade turnover (goods and services) between Ukraine and the Russian Federation had made US$ 32.8 billion, or, in other words, had grown by US$ 8.6 billion YoY (up by 35.7%).

In addition, following the results of 9 months, 2008, the volume of Ukrainian goods, exported to the Russian Federation, had grown by 39%. At the same time, the volume of goods, imported by Ukraine from the Russian Federation, had grown by something like 35%, during 9 months, 2008. Apart from energy resources, which make almost the half of gross volume of imports, Ukraine imports, as well, the products of mechanical engineering, chemical and metallurgical industries of the RF, the volume of which had grown by 40 to 60%.

Among the other things, according to B. Danylyshyn, the investment component of Ukrainian-Russian cooperation tends to further development, as well.

Following the results of 9 months, 2008, the volume of investments, channeled by the Russian Federation to Ukraine, had made: as of the beginning of the period – US$ 1,462.4 million; as of the end of the period – US$ 2,097.4 million; number of enterprises – 2,263.

According to the results of 9 months, 2008, the volume of investments, attracted by the Russian Federation from Ukraine, had made: as of the beginning of the period – US$ 148.6 million; as of the end of the period – US$ 110.5 million; number of enterprises – 81.

The Minister is opinion that such tendency of increase in volume of trade between the countries speaks for strong partnership relations between Ukraine and Russia.