Ukraine aims for economic stability and safety

The government is initiating the establishment of a Commission with the EU and Russia to find the mutually beneficial ways for improvement of economic relations. The subject resolution was approved by Cabinet of Ministers on Thursday, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine reports.

According to the document, the Trilateral Commission shall "review a set of issues aimed to resume the lost scopes of production and directions of trade-economic relations, expand and promote international trade, further liberalize the market and harmonize the regulatory base in order to improve the conditions for business activities."

To support efficient implementation of the task, the government intends to "resume an active dialogue with Russia, other countries of the Customs Union (Russia, Belarus, Kazakhstan), and CIS member countries regarding the enhancement of trade-economic relations." It is important for "mutual preserving and enhancing the economic potential of the state."

Given the scale of the effort, the Cabinet has asked the Ministry of Economic Development and Trade, Ministry of Industrial Policy, Ministry of Agriculture and Food, Ministry of Energy and Coal Industry and Ministry of Infrastructure to amend the state target, sectoral, and regional programs.

The amendments shall be aimed at development of trade, industrial cooperation, and exchange of technology with CIS member states "in order to preserve jobs and address the other social issues through improvement of economic stability of the states."

As for development of cooperation with the EU, protecting national security and ensuring economic stability is the top priority for the government. The Cabinet therefore ordered the suspension of preparations for signing the Association Agreement with the EU.

Prime Minister Mykola Azarov said the decision was tactical in view of the economic situation. Despite this, the strategic course of Ukraine to European integration remains unchanged.