Ukraine Can Strengthen European Strategic Autonomy, Says Yuliia Svyrydenko
13.11.2024 | 13:49 | Section for Public and Mass Media Relations
Ukraine has the potential to become the European Union's new production base, arsenal, energy hub, and to secure an important role in value chains for new technologies. This was stated by Ukraine's First Deputy Prime Minister and Minister of Economy, Yuliia Svyrydenko, during the panel "Ukraine and Europe: Toward A Common Future" at the Kyiv International Economic Forum on 7 November.
"Integrating Ukraine into the EU will create added value not only for Ukraine but also for Europe. We possess deposits of critical materials that are in short supply within the EU, as well as a growing defence-industrial complex. We have the potential and ambition to replace part of the EU's imports with goods produced in Ukraine, thereby bolstering European strategic autonomy. To achieve this, we are implementing several policies, notably 'Made in Ukraine,' to stimulate production, attract investment into the real sector, and enhance non-raw material exports," said Yuliia Svyrydenko.
Mario Draghi's plan for Europe's economic future emphasises innovation, decarbonisation, security, reducing the supply chain distance to Europe, and building European strategic autonomy. However, the report hardly mentions Ukraine. Meanwhile, President of the European Commission, Ursula von der Leyen has instructed Commissioners to develop an economic integration plan for Ukraine.
According to Yuliia Svyrydenko, the Ministry of Economy is responsible for several policies aimed at realising Ukraine's potential. These include the Ukraine Facility Plan, which seeks to align legislation with EU standards, implement crucial reforms, and provide business guarantees.
Another policy aimed at enabling Ukraine to manufacture, invest in production, and export high-value-added goods is the Made in Ukraine policy. This encompasses programmes for localisation, compensation for the cost of Ukrainian equipment, grants for the development of processing industries, support for major investment projects, the Affordable Loans 5-7-9% programme, and others.
"We have unified all our business support programmes into a single Made in Ukraine policy. The aim of the policy is to create favourable conditions in Ukraine for the production, investment in production and export of high value-added goods. Thousands of Ukrainian manufacturers are utilising these programmes. We hope that, through this policy, they will become the ones to replace EU imports from Russia in particular," stated Yuliia Svyrydenko.
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