Kiev, Aug 21 (IANS): Ukrainian Economy Minister Pavlo Sheremeta Thursday submitted his resignation to parliament over what he called "inability to work with people who adhere to old values".

On his official Facebook page, Sheremeta explained that he has a lot of disagreements with the government over the country's future economic policies, Xinhua reported.

"Instead of fighting with yesterday's system, I decided to focus on the work with tomorrow's people who will create the system of the future," he wrote.

The announcement came just one day after the cabinet approved an economist, Valery Pyatnitsky, as Ukraine's trade representative and deputy economy minister, a nominee that Sheremeta said he would not accept.

Sheremeta's resignation is awaiting parliament's approval.

Sheremeta, 43, a well-known political analyst and founder of the Kiev-Mohyla Business School, is widely considered as a pro-European politician and economic reformer, who concentrates his efforts on deregulation.

From 2008 through 2011, Sheremeta was a fellow of the Malaysia Blue Ocean Strategy Institute, which advised the Malaysian government on economic reforms.