June 29, 2005

Ukraine to develop space industry

President Viktor Yushchenko has signed a decree to develop Ukraine's space industry, the National Space Agency of Ukraine has reported.

Yushchenko, the NSAU said in a statement, decreed that development of space technologies and their effective use in the interests of the national economy, defense and security would be considered one of the country's main goals.

He also charged his Cabinet with allocating the money necessary for Ukraine's National Space Program for 2007-2011, within the national budgets for 2006 and subsequent years, as well as attracting loans from international financial organizations.

The Ukrainian space industry grew by 16 percent last year. Earnings from the industry's products reached more than $200 million in 2004, or 12 percent more than in 2003. Some 38 percent of the products were sold abroad, the NSAU statement said.

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Ukraine to develop space industry

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