Ukraine and Turkey Step up Cooperation
- New Europe Investor
- March 15, 2016
Following a trip to the Turkish capital Ankara, Ukrainian President Petro Poroshenko has offered Turkey coal mines as part of privatisation plans in Ukraine.
Ukraine’s Energy Ministry said, “The Turkish side has expressed interest in participating in the privatization of energy assets in Ukraine, coal mines in particular.”
Ukraine is planning a huge wave of privatisations this year as part of reform programs carried out in exchange for financial help from the International Monetary Fund.
During the delegation’s visit, Ukrainian and Turkish Energy Ministers also discussed cooperation in relation to gas policy. Poroshenko said Ukraine is ready to allow Turkey to use its underground gas storage facilities. Turkey is trying to seek out further gas supplies following the collapse of the Russian joint venture known as Turk Stream last year.
The two countries also signed a free trade agreement, to be implemented at the end of this year.
Ukraine and Turkey have formed a bond through their respective political problems with Russia, and agreed to conduct joint military exercises to display this.