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April 10 2002, 16:01 UNIAN

Basis for new cooperation in Ukrainian agriculture

UNIAN reported that John Costello speaking to CNFA annual meeting press conference declared Ukrainian AIC as promising sector for cooperation between Ukrainian and foreign agribusinesses. The situation in 2000-2001 in his opinion showed very good growth indicators.

Nevertheless, Costello believes there are problems to be resolved as well. Legislation still leaves planning in agriculture "unpredictable"; mid term and long term loans are not available for farmers.

VR is responsible for resolving such issues in particular creating hypotecary entity for agriculture.

Kozachenko, along with Costello, answered certain questions at this press conference. He stated that AIC remains one of the leading branches attracting investments both domestic and foreign.

To retool AIC completely, Kozachenko thinks, US $20 bn or more are required. The Vice-Premier commented that "domestic investors do not have that much capital to invest" therefore Ukraine is very interested in "foreign investment in the AIC".

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