The Bill (Reg. No.0044) creates necessary conditions for realization of the international project of the Black Sea circumurban motorway funded at the expense of the participating States.
The Memorandum envisages formation of a common fund for financing the expenditures for the motorway construction.
The Committee members stated that ratification of the Memorandum will enhance economic relations of Ukraine with other States; facilitate economic development due to the enhancement of infrastructure and automobile communication by Trans-European and Euro-Asian transport networks. Moreover, ratification will conclude inter-State procedure required for the said international agreement to come into force.
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