Ukrainian President Viktor Yushchenko vowed in Moscow Monday that his country is ready to fully cooperate with Russia in the economic field both at a bilateral level and at a multilateral level.  

After meeting with Russian President Vladimir Putin in a lightning visit to Moscow, the first foreign trip after he was sworn in as the new leader of Ukraine on Sunday, Yushchenko noted that both countries share great prospects for cooperation in the economic fields, which "can be maintained both at a bilateral level and at a multilateral level," the Itar-Tass News Agency reported.

The Ukrainian president welcomed Putin's call for joining the common economic space that is also jointly developed by Kazakhstan and Belarus, but premising that the accession "should meet our national interests and documents to be adopted won't prevent Ukraine from moving towards other markets."

Putin pointed out that the economy and the interests of concrete people is the key factor and an agreement, which is expected to be signed in the near future, will focus on free movement of people, goods and capitals that make economies of both countries more competitive.

Yushchenko said Russia boasts great energy potential and Ukraine has a unique transportation system, "so we should move together, taking into account each other's interests," according to Interfax News Agency.

The Russian leader called for more joint efforts in other economic fields in addition to the energy sector, saying that discussions over the issue would be conducted after the new Ukrainian government is formed.

According to him, Russia supplied over 100 billion cubic meters of gas to the Western Europe through Ukraine in 2004 and plans to export 112 billion cubic meters this year. Ukraine earned US$1.5 billion by transporting Russian gas last year, "which is not bad," Putin was cited as saying.

Russia, having centuries-old influence over Ukraine, is the country's largest trading partner by supplying more than a third of its energy demands.

Putin said he was satisfied with the Monday summit, which was marked by a frank and positive atmosphere, confirming that the new Ukrainian leadership would ensure continuity of bilateral relations.

The Russian leader assured that both sides will instruct executive authorities to draft some proposals "on making bilateral cooperation more intensive."

Yushchenko also said that he is resolved to solve the existing problems between Moscow and Kiev.

"There are unsettled problems that are needed to be solved with our Russian colleagues," said the Ukrainian leader, stressing that the sincere atmosphere of talks with Putin "allows us to be optimistic about the resolution of all existing problems," according to Itar-Tass.

(Xinhua News Agency January 25, 2005)