May 18, 2022

European integration will help Ukraine join the European production system: expert

Speaking of the association agreement with the EU, institutional changes must also be taken into account apart from free trade possibilities.

“Regarding our agreement with the European Union, we have a so-called deep agreement. It doesn’t just have a part on the free trade area. There is also a part that deals with institutional changes. As far as I know, the government is in active dialogue with the European Union and is trying to expand the scope of free trade,” Oleg Ustenko, adviser to the President of Ukraine on economic issues, told TV channel Dom TV on October 12, reports Ukrinform.

This gives Ukraine the opportunity to export its products to the European Union, as well as to receive products from the EU at a good price, the expert said. The government is trying to expand the range of products supplied.

“Most of the time we deliver the final product. Unfortunately, it’s usually raw material, of course. And that’s abnormal and bad. And that’s why the government tries to expand the range as much as possible and to give priority to the promotion of exports to the territory of the European Union to those of our companies that produce products with higher added value,” Ustenko said.

In this case, it is not only about the commercial part, but also about an opportunity to increase the competitiveness of Ukrainian products, the adviser to the president continued.

European integration will give Ukraine the opportunity to “integrate into the common European production system”, the expert said.

“This means additional jobs, additional competitiveness and less dependence of our economy on the economies of other regions. There is an opportunity for additional growth, for modernization of industry, which is crucial in our conditions It is also an institutional part which, even more important in the long run than the circulation of goods,” summed up Ustenko.