ISLAMABAD (APP) – Ukrainian Ambassador to Pakistan Volodymyr Lakomov on Sunday said that attractive opportunities existed for the Pakistani investors in Ukraine, after amendments in investment law.

President of Ukraine Petro Poroshenko signed the law on amendments to several legislative acts of Ukraine regarding the abolition of mandatory state registration of foreign investments.

Therefore, Pakistani investors will have new opportunities in the Ukrainian market, including participation in large and middle scale investment projects, he said a in press statement issued on Saturday.

The law, among other things, creates more favorable conditions for the attracting investments. Such amendments will bring the Ukrainian legislation closer to EU standards and facilitate the revival of the Ukrainian economy,he added.

Recently, the State Property Fund of Ukraine announced a privatization program for the year 2016, which includes a number of high-technological and industrial enterprises formerly owned by the government. The ambassador said these enterprises could be of serious interest to Pakistani investors.

Ukraine and Pakistan are due to sign an inter-governmental Agreement on Mutual Promotion and Protection of Investments, which is already in the pipeline and will be concluded during upcoming high-level visits, Volodymyr Lakomov said.

The Board of Investment of Pakistan will soon provide a new draft of this agreement for Ukraine’s consideration.

Ukraine and Pakistan enjoy close and friendly bilateral relations based on mutual understanding and brilliant cooperation in many different fields, from defense and trade to cultural cooperation, the ambassador said.

One of the latest examples of successful joint projects in the cultural sphere was the joint issue of Ukrainian-Pakistani postal stamp “Monuments of Ancient Cultures: Mohenjo Daro and Trypillia”, he said.

The stamp has become very popular among high-level politicians, leading businessmen and collectors in Pakistan and Ukraine, he added.