Saturday, February 08, 2014

China is Investing Heavily in a New Port in Crimea, Ukraine

While most of the worldwide media outlets focused on Euromaidan protests in Kyiv since Ukraine’s withdrawal from signing the Association Agreement with the European Union in November 2013, the signing of a five-year economic agreement between Ukrainian President Viktor Yanukovych and several Chinese companies went unnoticed. In fact, while a group of activists were storming the presidential administration in Kyiv in December 2013, Yanukovych was not even in Ukraine. Instead, he was in China as the guest of honor of the Ukrainian-Chinese business forum in Beijing to authorize a memorandum on the construction of a deep-water mega-port in Crimea, contracted by the Ukrainian company “Kievgidroinvest” and the Chinese company Beijing Interoceanic Canal Investment Management.

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