Vasil Kisil & Partners has become a member of Cathay Associates, the China-based global legal service network of law firms.
According to a VKP statement, “the mission of the network is to provide cross-jurisdictional legal services to Chinese enterprises with ambitious global expansion strategies, as well as international companies from other countries seeking to do business with China, and to be a bridge between China and the rest of the world. Launched late in 2015 the network already aggregates more than 31 offices and continues to grow rapidly."
VKP reports that Ukraine has become a growing target for Chinese direct investment and is expected to gain a significant amount of attention from Chinese companies. In 2015, the overall turnover between China and Ukraine was over USD 7 billion, and the China Exim Bank has extended a USD 3 billion loan facility in Ukraine’s agriculture. In addition, VKP reports, "Chinese private and state companies already participate in various private projects in Ukraine, including agriculture, silo operation and port facilities,” and the firm claims that “notably, in the agricultural industry, Ukraine has become the largest exporter of corn to China, and Chinese-Ukrainian agricultural trade has increased by 56% since 2014."
VKP Partner Alexander Borodkin, who served as the Cathay Associates' main point of contact at the firm, said: "The requisite capacity and established leading market position helped Vasil Kisil and Partners to become one-stop-shop advisor for Chinese investors in Ukraine. The latest meetings in Shanghai and Beijing proved high investor interest in Ukraine and we are looking forward to enhance this collaboration, making our input into growing Ukraine’s economy."
Rupert Varnai, the Global Chief Executive Officer of Cathay Associates, said: "Now that we are present in Ukraine and China, we can work seamlessly between the two countries to eliminate the headaches that can occur when Ukrainian companies are seeking out Chinese investors, and also when Chinese businesses are looking to do business in Ukraine. Cross-cultural issues can be daunting as well as the full magnitude of the different legal and business aspects can be time consuming for investors. Now we have leading legal counsels that can tap into, simultaneously, in both countries."
As reported by CEE Legal Matters last year, the Cathay Associates network of law offices was launched by China's Kejie Law Office in September 20015, and it announced its first nine CEE members — Drazic, Beatovic & Partners in Belgrade and Podgorica, Dvorak Hager & Partners in Bratislava and Prague, BWSP Hammond Bogaru & Associates in Bucharest and Chisinau, Varnai & Partners in Budapest, Bozo & Associates in Pristina and Tirana, Kolcheva, Smilenov, Koev and Partners in Sofia, RE-Structure in Vienna, Kijewski Gras in Warsaw, and Benko i Partneri in Zagreb — shortly thereafter.