The fifth session of India-Ukraine Inter-Governmental Commission on Trade, Economic, Scientific, Technological, Industrial and Cultural Cooperation held in New Delhi on 13 November 2013. The Commission was chaired by E. Ahamed, the Minister of State for External Affairs.
The Ukrainian delegation was led by Ihor Mykolayovych Prasolov, the Minister of Economic Development and Trade of Ukraine. He was accompanied by a 15 member official and 12 member business delegations from Ukraine.
During the session current status and future prospects of cooperation in trade and investment, heavy/light industry, fertilizers, pharmaceuticals and healthcare, mining and metallurgy, science and technology, energy (coal, nuclear), transportation, agriculture and food processing, education, culture and tourism were reviewed.
The Ministry of Chemicals and Fertilizers, Government of India, and the State Administration of Ukraine on Medicinal Products signed the Memorandum of Understanding for Cooperation in Joint Ventures and Research and Development in Pharmaceuticals and Bio-pharmaceuticals.
The Ukrainian Business Delegation held an interactive session with Indian business community organized by the Federation of Indian Chamber of Commerce and Industry (FICCI). The Ukrainian side agreed to address the concerns of Indian pharmaceutical companies operating in Ukraine. Both sides also agreed to work on an agreement on simplification of visa procedures to ease movement of business people and tourists. The bulk of India’s exports of pharmaceuticals to Ukraine amount to about 375 million US dollars per annum.
India and Ukraine also agreed to increase trade beyond the existing level of 3.2 billion US dollars.
The fourth session was held in Kyiv in June 2012 and the sixth session of the Commission will take place in 2014 at Kyiv.