Today, on June 29, the Verkhovna Rada of Ukraine ratified the Agreement between Ukraine and the European Union on participation in the EU's Single Market Programme. The relevant draft law, developed by the Ministry of Economy, was adopted by MPs.

"The ratification of the Agreement ensures Ukraine's participation in the EU financial support program for 2021-2027 with a budget of EUR 4.2 billion. Joining the Program will provide businesses with additional incentives and opportunities, including for improving their competitiveness. In particular, the program components provide Ukrainian businesses with access to funds for patenting their intellectual property. In addition, the initiatives under the Single Market Programme will help Ukrainian entrepreneurs find new business partners in the EU and enter new markets," commented Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.

She added that this was also another opportunity for European businesses to strengthen business ties with Ukraine, invest in Ukrainian business projects and contribute to Ukraine's recovery.

Thus, within the framework of the Single Market Programme, the European Commission has recently announced an initiative to apply for funding through the Ideas Powered for Business SME Fund.

Financial support under this initiative will include:

trademark and design protection (at the national, regional and EU levels) with reimbursement of up to 75% of the costs, but not exceeding a maximum amount of EUR 1, 000;

protection of patents or related activities (for national and European patents) with reimbursement of up to 75% of the costs, but not exceeding the maximum amount of EUR 1,500;

protection of plant species, at the European level, with reimbursement of up to 50% of the costs, but not exceeding the maximum amount of EUR 225.

For more details, please follow the link: https://is.gd/low1NU. Information on the previous grant proposals of the European Commission under the general title "ReadyForEU" is available at the following link: https://is.gd/RC710W.

As a reminder, the Agreement between Ukraine, on the one hand, and the European Union, on the other hand, on Ukraine's participation in the European Union's Single Market Programme (2021-2027) was signed on February 2, 2023, in Kyiv by the Prime Minister of Ukraine Denys Shmyhal and the President of the European Commission Ursula von der Leyen.