European integration – Cabinet announces five economic reforms — UNIAN


The Prime Minister has held a meeting with the European Business Association via conference.

Photo from UNIAN

Photo from UNIAN

PM held an online meeting on Thursday with representatives of the European Business Association (EBA) to deliver the news, the Cabinet press service reports.

“We are now actively discussing with our European partners the issue of industrial visa-free regime with the European Union. This should greatly simplify the access of Ukrainian goods to the EU market. We are also negotiating the signing of an agreement on a common aviation area. In our opinion, this agreement can be a significant driver for the recovery of the aviation sector, which has suffered significantly from the coronavirus crisis around the world,” Shmyhal stressed, according to the press service.

We are now actively discussing with our European partners the issue of industrial visa-free regime with the European Union

The third step is Ukraine’s integration into the European Network of Transmission System Operators for Electricity (ENTSO-E), which would create full-scale competition on the electricity market, promote fair prices, and increase the security of grids.

Read alsoNew bill on localizing production capacities contradicts Ukraine’s international obligations – PM“Customs reform is an important issue in the context of Ukraine’s European integration. We clearly understand that customs can be reformed not through individuals, but only through the creation of European rules there. In particular, issues at stake are European integration projects to unite customs value bases with the EU, create risk-oriented systems and ‘green corridors’ at customs for honest business,” said Shmyhal.

The fifth step is implementation of the initiative “on integration of inland water transport into the European water transport system” that would “contribute to the significant development of logistics and strengthen our exports,” the prime minister said.

Ukraine’s European integration: essence

  • In 2014, the European Union and Ukraine signed an Association Agreement, which marked the start of a new period in the development of their relations.
  • The agreement is the main instrument for closer rapprochement between Ukraine and the EU: it promotes deepening political relations, stronger economic ties, and mutual respect for common values.
  • The economic part of the agreement, on a deep and comprehensive free trade area, provides Ukraine with an opportunity to expand trade relations and economic development, opening up new markets, contributing to the adaptation of legislation, standards, and regulations in various sectors. The latter will help integrate EU standards into key sectors of the Ukrainian economy.

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