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Archive for August 13th, 2005

Ukrainian plane has inspected Belgian sky

Posted by the Editor on August 13, 2005


News / 13 August 2005 | 13:33

Ukrainian plane has inspected Belgian sky

The plane of Ukraine Air Force made an inspective flight in Belgian sky. The action is regulated by the Decree on Open Sky. It was the first Ukrainian inspection over Belgian airspace.   

The Decree was signed in 1992 in Helsinki by twenty five states. Nowadays, thirty five states take part in the inspection flights over the territory from Vancouver through all North Hemisphere to Vladivostok.

The Decree on Open Sky is to strengthen mutual confidence and safety by increasing transparence of the military activity.

Every state-participant may conduct unarmed inspective flights in order to gain information about armed forces of other country.    

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Ukraine wants to deepen economic relations with Russia

Posted by the Editor on August 13, 2005


News / 13 August 2005 | 13:04

Ukraine wants to deepen economic relations with Russia

Ukrainian President Viktor Yushchenko said on Saturday that Ukraine wants to develop and deepen economic relations with Russia. "We have traditional relations of friendship with Russia where Ukraine used to sell 38% of its produce and is now selling just 18%. We want to develop our interests in this market. But what we need is a different policy and other mechanisms. That is why we talk about the CIS and those Common Economic Space initiatives, which are vitally important for us," Yushchenko, who is currently visiting Georgia, told a briefing in the mountain resort town of Borzhomi, Itar-Tass reported.

"I spoke against the Common Economic Space when I was in parliament because parliament was little informed about the goals, values and ideas of this space. Today, when we pursue a dialogue, we say that Ukraine has three goals in the Common Economic Space: the creation of a free trade zone; the system of harmonized customs relations in order to ease the movement of goods, services and workforce," Yushchenko went on to say.

He noted that Ukraine and Russia should establish a system of single tariffs if they want to open mutual markets. "Services and goods should move in one regime," Yushchenko added.

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Yushchenko and Putin had a phone conversation

Posted by the Editor on August 13, 2005


News / 13 August 2005 | 12:30

Yushchenko and Putin had a phone conversation

President of Ukraine Viktor Yushchenko had a phone conversation with Vladimir Putin President of Russia, the presidential press service reported.   

In particular, presidents discussed mutual relations and several international issues.

They negotiated that all details of Ukraine-Russia relationship will be discussed in the Summit of CIS Heads in the end of August.  

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Ukrainian Ministry of Finance to issue Euro bonds in October

Posted by the Editor on August 13, 2005


News / 13 August 2005 | 11:40

Ukrainian Ministry of Finance to issue Euro bonds in October

Financial Ministry reckons that October of 2005 is optimum for issuing of Euro bonds. The fixed income rate of bonds will not exceed 5-6%, Galina Pakhuchuk Director of Promissory Policy Department of Financial Ministry reported.

She pointed out the interest of foreign financial establishment to Ukrainian loans.

The income of Euro bonds will be used for financing of State Budget’s deficit in case if privatization income is insufficient. If the privatization gives enough money, the Euro bond’s income will used for repayments of previous more expensive credits or will be stored in reserve for the beginning of next year.        

Ministry of Finance on August 2, 2005 announced about the tender among twenty biggest Western financial institutions in order to choice the right candidacy for the post of lead-manager of the project. Ukraine plans to issue bonds by € 600 million with ten-year term of circulation. August 15 is the deadline of application for participation in tender.  

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