Business news from Ukraine

EU TO STEP UP EFFORTS TO SUPPORT UKRAINE IN 2016 – EUROPEAN COMMISSION

21 January , 2016  

BRUSSELS. Jan 21 (Interfax-Ukraine) – The European Commission has said it hopes soon to give a positive recommendation for cancellation of visa travel regime with EU for Ukraine and in 2016 build on current support programmes to improve the business climate, provide support to small and medium-sized enterprises, and help Ukraine find new markets.

“In 2016 will be stepping up our efforts to support Ukraine with more co-ordination with EU member states and greater visibility for our work, particularly on implementation of the DCFTA,” said Commissioner for European Neighborhood and Enlargement Negotiations Johannes Hahn at a European Parliament’s plenary session on Wednesday.

He said that for Ukraine the DCFTA can bring significant economic benefits.

“Ukrainian businesses will now receive stable and predictable preferential access to the largest market in the world with 500 million customers. And, EU enterprises will be able to benefit from easier access to the Ukrainian market, though we must help Ukraine develop the right conditions to encourage new business and investment relationships,” Hahn said.

He reminded that over 20 meetings were held in trilateral format to address alleged Russian concerns about the DCFTA implementation. Now, he said, “Ukraine faces a number of measures imposed by Russia impeding trade and transit, and will need our support here too.”

“For its part, Ukraine needs to show it is open for business by aligning with EU standards in key sectors and taking decisive action on rule of law,” the EU Commissioner said.

According to his estimates, despite very challenging circumstances, the Ukrainian government has made progress in implementing the Association Agreement.

In particular, the National Anti-Corruption Bureau and new National Police have started to work; the selection process for an Anti-Corruption Prosecutor has been completed; the government has also adopted a law on the natural gas market, which aims at bringing the gas sector of Ukraine in line with the EU Third Energy Package.

“But we should not underestimate the challenges ahead. The fight against corruption, reform of the judiciary and of the public administration, as well as amendments to the Constitution, particularly the second reading on decentralization, will require courage and political will,” he stressed.