Aivaras Abromavicius believes the future of Ukraine hinges on small and medium businesses

To strengthen the economy, we need to focus on the development of small and medium businesses, Minister of Economic Development and Trade of Ukraine Aivaras Abromavicius stressed during a meeting with representatives of the Federation of Trade Unions and Employers on June 17.

"We think that the future of Ukraine hinges on SMEs, of course after carrying out tax reform, which will contribute to the development of this segment," the Minister said.

Aivaras Abromavicius informed that last Friday he had already become acquainted with the preliminary draft strategy for development of small and medium businesses. Thus, the document will be "polished up" with associations, the Organization for Economic Cooperation and Development (OECD), the EU, a strategy will soon be shown publicly.

The Minister has also emphasized that there are opportunities for financial support for small and medium businesses, and he has high hopes for signing a relevant document with Johannes Khan, the Commissioner for European Neighbourhood Policy and Enlargement Negotiations. The Government together with the EU plans to open 15 regional offices across the country to support SMEs, launch an outreach program on how to start a business and how to get support for business development.

During the conversation the Minister touched upon the expansion of markets for Ukrainian producers and promotion of national interests in trade, drew attention to the huge opportunities offered in the reform of public procurement, outlined steps aimed at combating corruption and access to a new level of management of state companies, elaborated on the actions of the Government focused on stabilizing the macroeconomic situation and follow-up measures of deregulation. "We hear business and look forward to continuing a productive dialogue," Aivaras Abromavicius summed up.