Ukraine is a driver of change for a stronger EU: Olha Stefanishyna calls for renewed approaches to the development of the EU Single Market at the NBU Conference

On June 19, 2025, in Kyiv, in a statement at the ninth annual research conference “Economic and Financial Integration in a Stormy and Fragmenting World”, Olha Stefanishyna, Deputy Prime Minister for European and Euro-Atlantic Integration and Minister of Justice of Ukraine, stressed the importance of rethinking the role of the EU Single Market in the current global context, as well as the role of Ukraine in its transformation.

Speaking at the panel “Balancing the principles of the Single Market, industrial policy and economic security system”, the official expressed her belief that the answer to the question of how to achieve a balance had been laid down in the regulatory policy of the European Commission. At the same time, she emphasized that it was important that any regulations contributed to the development of the Single Market rather than created barriers.

"Today, in 2025, we have a Single Market that has gone through transformations and various political cycles. And that is why it is absolutely logical to reconsider approaches, to reject what has been holding back the development of this market, and to make the EU an even more powerful player on the global stage," emphasized Olha Stefanishyna.

She also noted that Ukraine's vision of the Single Market differs from the approaches of those countries that only cooperate with the EU, as Ukraine views this market from the perspective of a full participant.

She reminded that Ukraine has already gone through a unique path of sectoral integration - from energy to transportation, digital, customs cooperation, etc., and has become an example for other countries.

The official paid special attention to the potential of the defense industry as a new element of the EU Single Market. She emphasized that in order to strengthen the European Union in the strategic dimension, it was necessary to abandon protectionist approaches and, on the contrary, open the market to strong and reliable partners.

"If the European Commission's policy of deregulation and development of freedoms within the Single Market is successful, we will have a more powerful EU. The degree of adaptability that we have seen from the EU since the start of russia's full-scale invasion is unprecedented. It has never been seen anywhere else. So, if the EU is now being criticized or experiencing turbulence, we should not despair. This Union has already proven that it is capable of adapting to any reality," the Deputy Prime Minister emphasized.

In her final remarks, she called on the partners to make bold political decisions and overcome tactical concerns: "I believe that we are already moving towards a stronger European Union and the Single Market. But we need to overcome certain mental barriers - between the strategic understanding that Ukraine's accession strengthens the EU and certain reservations about this decision. I believe that we will overcome these barriers," Olha Stefanishyna said.

The event was organized by the National Bank of Ukraine and the National Bank of Poland with the support of the Federal Foreign Office of Germany and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.