Ukraine, EU continue negotiations on signing AA

Ukraine and the European Union continue negotiations on signing the Association Agreement. In the Agreement, the government has envisioned protecting foreign investors in Ukraine. Deputy Prime Minister Oleksandr Vilkul made the announcement at the conference with heads of Ukrainian and international companies, experts and diplomats from the US, EU and Russia. He said national interests, steadily and confidently vindicated by the government, coincide with the interests of foreign companies operating in Ukraine.

"It involves the prospects of companies in which billions of UAH were invested and the fate of tens of thousands of Ukrainians working at the companies," Vilkul in his speech, the Information-Analytical Bulletin of the cabinet of Ministers of Ukraine informs.

According to government analysts, international business can be one of representatives of Ukraine, supporting the our country’s position in the Association talks. In particular, it concerns introduction in Ukraine of the European principle which has already been implemented in other countries signatories of the Association – the macroeconomic EU assistance in standardization and certification of products and compliance with directives.

Also, strategic issues of the government include red tape reduction in the economy and simplification of licensing procedures. Ukraine has made progress in preparing the successful investment climate for foreign investors. Thus, in the World Bank ranking Doing Business, our country has risen by 28 positions this year – from 140th to 112th in the world.

"Further improvement of investment climate will let Ukraine enter the top hundred of Doing Business ranking," said Vadym Brailovsky, managing partner of investment company European Capital Management.

Parliament is currently reviewing a government bill "On amending certain legislative acts of Ukraine concerning protection of investors." Experts note that it introduces the criminal liability for raider activities. And, as already declareed by President Viktor Yanukovych, improvement of investment climate shall be the main driving force of economic reforms in Ukraine.