Ukraine takes step towards participation in the EU Single Market Programme

President of Ukraine Volodymyr Zelenskyy submitted to the Verkhovna Rada the draft Law of Ukraine "On Ratification of 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)" (Reg. No. 0207 of 26 May 2023).

The ratification of the Agreement is to ensure Ukraine's participation in the programme and facilitate the implementation of joint projects within its framework. The Agreement was signed on 2 February 2023 in Kyiv by the Prime Minister of Ukraine Denys Shmyhal and the President of the European Commission Ursula von der Leyen.

The European Union's Single Market Programme is a €4.2 billion financial support programme lasting 7 years, which enables the Single Market to strengthen and increase transparency and develop its potential for job creation, coordinate measures and reduce administrative barriers, focus on the economic recovery of industrial ecosystems, and help the Single Market to reach its full potential and ensure Europe's recovery from the COVID-19 pandemic.

Ukraine's participation in the Programme will provide additional incentives and opportunities, including for increasing the competitiveness of businesses, including small and medium-sized ones, and for creating and disseminating high-quality European statistics in Ukraine.

It is worth noting that strengthening Ukraine's cooperation with the European Union is particularly relevant in view of the European integration processes and Ukraine's acquisition of the EU candidate status.