KIEV, Aug. 22 (Xinhua) -- Ukraine is considering building a new bridge on the border with Moldova to boost regional connectivity, Ukrainian Deputy Prime Minister Volodymyr Kistion said Wednesday.

"This project is economically beneficial not only for Ukraine and Moldova, but also for the European Union as a whole," Kistion wrote on Facebook.

He said the bridge would replace the ferry services on the Dniester River at the border-crossing point Yampil-Cosauti and could reduce the travel time between the Baltic and the Balkan countries on the highway passing Ukraine and Moldova.

Ukraine plans to sign an intergovernmental agreement with Moldova on the construction of the bridge, Kistion said, adding that the project is a part of the National Transport Strategy of Ukraine 2030.