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Granting the EU candidate status to Ukraine in June is crucial for business

26/ 05/ 2022
  The war is raging in Ukraine for three months now. During these three months, Ukraine has held the fort not only of its freedom and democracy, but also that of Europe and the democratic world. While Ukrainians and the Armed Forces of Ukraine are fighting on the military front, business is doing its best to support the economic front. There are examples of nearly 1,000 EBA member companies that continue to work despite hostilities. Although, the war-caused losses are growing every month. Nevertheless, the business is determined to operate further and to get involved in the reconstruction and development of Ukraine. Currently, Ukraine is going through an unprecedented time and it is reclaiming peace on the entire European continent. At the same time, business together with all country, need decisive action on the part of European countries, and not just statements. Business needs to see that the EU’s doors are open to Ukraine. There must be a clear signal that confirms the European prospects for our country. Recognizing Ukraine as a candidate for EU membership would be such a signal. Candidacy and the further accession to the EU are the best frameworks for the post-war recovery of the country and business. Ukraine has been an important player in the European market, it remains so even now, and eurointegration is a logical continuation of this role. Besides, it will help lift the spirits of Ukrainian and international businesses operating in Ukraine, so that they can stay afloat, jumpstart to a new level of development and participate in the reconstruction. After all, investments in reconstruction will be most effective if it happens under European standards and with the participation of the EU.  Thus, Ukraine is a huge opportunity field, namely in agriculture, IT (which currently grows by 20-25% annually), mechanical engineering, food, and processing industry, metallurgy, etc. Moreover, Ukrainians are not only the bravest people – they are extremely talented and professional as well. About 70% of Ukrainians have higher education. Over the past decade, Ukraine’s FDI has reached nearly $ 35 billion. And we hope to attract even more investments for the recovery of our prosperous country. For many years, the European Business Association has been supporting and promoting the importance of harmonizing domestic norms, rules, and procedures with those of the EU at maximum. The whole business community looks forward to European leaders granting the EU candidate status to Ukraine in June. That would be the only right decision – for the welfare of entire Europe, prosperity of democracy, freedom, and development. Sure, it is a long process, but Ukraine has already proved more than once that it deserves to set foot on the path toward full EU membership! And at the same rapid pace, as Ukraine is reclaiming its future today, we will fulfill all the requirements for Ukraine to become an EU member.

The war is raging in Ukraine for three months now. During these three months, Ukraine has held the fort not only of its freedom and democracy, but also that of Europe and the democratic world.

While Ukrainians and the Armed Forces of Ukraine are fighting on the military front, business is doing its best to support the economic front. There are examples of nearly 1,000 EBA member companies that continue to work despite hostilities. Although, the war-caused losses are growing every month. Nevertheless, the business is determined to operate further and to get involved in the reconstruction and development of Ukraine.

Currently, Ukraine is going through an unprecedented time and it is reclaiming peace on the entire European continent. At the same time, business together with all country, need decisive action on the part of European countries, and not just statements. Business needs to see that the EU’s doors are open to Ukraine. There must be a clear signal that confirms the European prospects for our country. Recognizing Ukraine as a candidate for EU membership would be such a signal.

Candidacy and the further accession to the EU are the best frameworks for the post-war recovery of the country and business. Ukraine has been an important player in the European market, it remains so even now, and eurointegration is a logical continuation of this role. Besides, it will help lift the spirits of Ukrainian and international businesses operating in Ukraine, so that they can stay afloat, jumpstart to a new level of development and participate in the reconstruction.

After all, investments in reconstruction will be most effective if it happens under European standards and with the participation of the EU.  Thus, Ukraine is a huge opportunity field, namely in agriculture, IT (which currently grows by 20-25% annually), mechanical engineering, food, and processing industry, metallurgy, etc. Moreover, Ukrainians are not only the bravest people – they are extremely talented and professional as well. About 70% of Ukrainians have higher education. Over the past decade, Ukraine’s FDI has reached nearly $ 35 billion. And we hope to attract even more investments for the recovery of our prosperous country.

For many years, the European Business Association has been supporting and promoting the importance of harmonizing domestic norms, rules, and procedures with those of the EU at maximum. The whole business community looks forward to European leaders granting the EU candidate status to Ukraine in June. That would be the only right decision – for the welfare of entire Europe, prosperity of democracy, freedom, and development. Sure, it is a long process, but Ukraine has already proved more than once that it deserves to set foot on the path toward full EU membership! And at the same rapid pace, as Ukraine is reclaiming its future today, we will fulfill all the requirements for Ukraine to become an EU member.

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