The country's gross domestic product (GDP) grew by 2.1 percent year-on-year in January-July compared to a 6.1 percent contraction in the same period last year.

When the Soviet Union collapsed and Ukraine became an independent state, the opportunity to create a new economic reality for its citizens was missed by the government and policymakers. The delayed reorientation toward a market-based energy policy resulted in decades of corruption and dependence on Russia.

The agreement was reached during a recent meeting of the bilateral intergovernmental commission that had been held in Tashkent.

Oil and gas condensate production declined 1.6 percent from January to August from a year earlier to 23.05 million tonnes, while natural gas output increased 11.3 percent to 27.917 billion cubic metres (bcm) in the same period.

Gross domestic product (GDP) grew by 3 percent year-on-year in January-August backed by a 12.9 percent growth in communications, 11.4 percent in construction, 9.1 percent in trade and 5.8 percent in manufacturing.