Chairman of the Verkhovna Rada of Ukraine Volodymyr Lytvyn hopes for development of fruitful cooperation between Ukraine and the European Investment Bank.

Chairman of the Verkhovna Rada of Ukraine Volodymyr Lytvyn met the President of the European Investment Bank Werner Hoyer within the speaker´s two-day official visit to the Grand Duchy of Luxembourg. The head of the Ukrainian parliament congratulated Mr Hoyer on his recent appointment to the office.

The head of the Ukrainian parliament noted rapid development of relations between Ukraine and the European Investment Bank. He said that the Parties reached a high level of cooperation on a range of projects.

V. Lytvyn thinks that relations between Ukraine and the European Investment Bank have a great potential, while their development depends on Ukraine´s ability to attract the funds of the Bank. The Chairman of the Verkhovna Rada of Ukraine hopes for positive consideration of humanitarian, social, and tourist projects.

According to V. Lytvyn, Ukraine is interested in attracting the EIB to such an important sector as housing and public utility services. He said that the Ukrainian Party suggested establishing mutually beneficial cooperation in the following areas: crediting of the small and mid-sized business within the infrastructure development projects; generation, transportation, conservation, and consumption of energy; implementation of "green" projects; modernization of transport and communications.

The Chairman of the Verkhovna Rada of Ukraine attaches great importance to the signing of the Agreement on cooperation and activity of the permanent office of EIB in Ukraine which should make our state more attractive to the foreign investors.

Among the key priorities of cooperation with the Bank, V. Lytvyn singled out implementation of the Joint Declaration of Ukraine and EU summarizing the results of the International Investment Conference on the Modernization of the Gas Transit System of Ukraine held in Brussels on March 23, 2009. He welcomed the intention of the EIB to support the projects of modernization of the gas transit system of Ukraine.

The head of the Ukrainian parliament highly appreciated the decision of the EIB to institute a new financial tool, the "Eastern Partners Facility." He expects this tool to further cooperation between the European Union and its Eastern European neighbours, and to support mutually beneficial projects within the Eastern Partnership.

V. Lytvyn stressed that the Verkhovna Rada of Ukraine lays special emphasis on the harmonization of the Ukrainian laws with the European norms and implementation of reforms to improve the investment climate in Ukraine. In 2011 more than twenty laws on deregulation and development of businesses were adopted, whereas the newly adopted Tax Code laid the foundation for a new system of VAT refund. Ukrainian parliament has ratified the inter-governmental agreements with seventy countries on promotion and mutual protection of investments.

V. Lytvyn hopes that association and free trade zone agreements with the EU will be initialed in the nearest future. Mr Hoyer claimed that initialling of the agreements will become a positive signal for the investors.

The President of the European Investment Bank highly appreciated the contribution of the Verkhovna Rada of Ukraine to the legislative support of common projects.

http://portal.rada.gov.ua/rada/control/en/publish/article/info_left?art_id=298499&cat_id=105995