Chairman of the Verkhovna Rada of Ukraine Volodymyr Lytvyn met the Chairman of the Chamber of Deputies of Luxembourg Laurent Mosar within his two-day official visit to the Grand Duchy of Luxembourg. Volodymyr Lytvyn attached great importance to the development of trade and economic cooperation between Ukraine and Luxembourg. He noted that the volume of bilateral trade considerably increased in 2011 despite the complicated economic situation in Europe. He informed that by the amount of investments into the Ukrainian economy, Luxembourg occupies the eleventh place among the EU member states.

However, the head of the parliament stressed that potential of bilateral trade and economic cooperation is far from being exhausted.

The Parties called for speeding upon ratification of the Convention between the Government of Ukraine and the Government of the Grand Duchy of Luxembourg on avoidance of double taxation and prevention of income tax and capital tax evasion. It was claimed that all major issues have been reconciled. After the technical issues are settled, the document will be ready for signing and ratification.

V. Lytvyn thanked the Party of Luxembourg for participating in the donor conference in Ukraine on the eve of the 25th anniversary of Chornobyl disaster which raised funds for construction of a new protective envelope at Chornobyl Nuclear Power Plant.

V. Lytvyn assured that the Ukrainian Party will take action to regulate the situation concerning settlement of accounts between several Ukrainian private companies and their partners in Luxembourg with the result that insurance companies from Luxembourg sustained losses.

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