In the beginning, the Al-Khalid main battle tank was jointly developed by China and pakistan, now the the vehicle is produce under license in Pakistan. The fist delivery was made in 2002.

About 600 tanks were planned to be built by 2007.Oleh Shevchenko further said that the co-operation of both countries in defence and military technology including joint training of officers, technical experts and pilots, supply and joint development of high tech weaponry and equipment for the Army, Navy and Air Force is expanding in all areas.

According to Ukrainian statistical data, annual turnover of both the countries ranges between $170-300 million.

"Low turnover is due to global financial meltdown apart from various other factors," he added.

Ukraine and Pakistan have been working on the creation of the Ukraine-Pakistan Commission on Trade and Economic Co-operation as well as on the improvement of mechanism for protection of investment on both sides.

In this regard, Pak-Ukraine Business Council was established.

"Ukrainian businessmen are interested to participate in the expansion of Pakistan Steel Mills and other projects in case they receive offer from Government of Pakistan," he said.

Several years ago the Ukrainian investor took part in the mills respective privatisation tender, he recalled.

He said that a plan of direct flight between the two countries for the facilitation of business community was under negotiation with private airliners.