Ukraine must be integrated into European Union’s industrial production
Ukraine’s involvement in the EU’s industrial policy is one of the best ways to ensure the EU’s strategic autonomy and increase the efficiency of the European economy as a whole. This was emphasized by First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko during a meeting with EU Commissioner for Internal Market Thierry Breton on February 24 in Brussels.
“Ukraine’s economic recovery lies in industrial production. In particular, this applies to the steel and chemical industries – we want to replace russia on the market of iron ore, cast iron, and other goods. Moreover, Ukraine has unique experience in using drones. We want to develop in this area, establish production and integrate into the EU supply chain. The ACAA agreement, which will simplify trade and customs procedures, must be signed this year,” said Yuliia Svyrydenko.
The First Deputy Prime Minister added that the sanctions pressure on russia should be increased, in particular, the focus should be on the russian nuclear industry.
Yuliia Svyrydenko also emphasized the importance of cooperation between Ukrainian companies and EU industrial companies in the post-war recovery of Ukraine, ranging from joint production of construction materials to railway equipment. To establish this partnership, Ukraine will facilitate business dialog for all parties.
In turn, European Commissioner Thierry Breton supported Ukraine’s aspirations for mutually beneficial cooperation and the implementation of joint projects with localization in Ukraine, including for the country’s post-war recovery. In particular, the defense industry and the energy sector are promising for the EU-Ukraine partnership. According to Thierry Breton, Ukraine’s industrial recovery and sustainable partnership with the EU will support the industrial ecosystem of the European Union, which will have a positive impact on the economies of both sides.
“We will be happy to discuss this issue with Ukrainian and European businesses as part of our industrial dialog. Such cooperation will provide new opportunities for Ukrainian business. We are also looking for partners for Ukrainian small and medium-sized businesses. The EU’s Single Market Programme is one of the EU’s financial support programs, for which we are grateful to our international partners,” said Yuliia Svyrydenko.
As a result of the meeting, the parties agreed that the EU would provide 1,500 grants for Ukrainian small and medium-sized businesses to establish business ties with EU partners under the Single Market Programme. Besides, another 430 grants will be awarded to young Ukrainian entrepreneurs willing to study best practices of doing business in the EU.
The call for applications for these grants will be posted on the EU’s Single Market Programme portal next week.