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Investment-hungry Ukraine will host visit by powerful Chinese president

Chinese President Hu Jintao will visit Ukraine to discuss bilateral cooperation, investment opportunities and sign agreements aimed at intensifying cooperation.

The visit is scheduled for June 18-20. The Chinese president will first arrive in Crimea and then will visit Kyiv.

This is his first visit to Ukraine.

Until recently, the two countries did not show much interest in cooperation.

The last visit from a Chinese president came 10 years ago.

After President Viktor Yanukovych took power on Feb. 25, 2010, Ukraine increased the tempo of its Eastern diplomacy.

Ukraine is struggling to get another International Monetary Fund loan and wants to attract investment from China, one of the world's top lenders and economic powerhouses.

The presidents plan to sign a joint declaration on the establishment of a strategic partnership.
China views Ukraine as a threshold to the European Union, where it seeks to expand its markets.
Some, however, are uncertain whether Ukraine's relations with China are of strategic nature.

While visiting China in September, Yanukovych said that Ukraine wants to attract as much as $4 billion in Chinese investment, including money for a high-speed train connection between Kyiv and Boryspil International Airport. But little has materialized.



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