Ukraine’s involvement in the industrial policy of the European Union is one of the best ways to ensure EU’s strategic autonomy and increase the efficiency of the European economy as a whole. First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko emphasized it at the meeting with EU Commissioner for the Internal Market Thierry Breton, which took place on 24 February in Brussels.

“Ukraine’s economic recovery lies in industrial production. In particular, this applies to the steelmaking and chemical industry – we want to replace russia in the market for iron ore, cast iron and other goods. In addition, Ukraine has a unique experience of using drones. We want to develop in this direction, establish production and integrate into EU supply chains. The ACAA Agreement, which will simplify trade and customs procedures, should be signed this year,” said Yuliia Svyrydenko.

The First Deputy Prime Minister added that the sanctions pressure on russia should be intensified, in particular with the focus on the russian nuclear industry.

Yuliia Svyrydenko also emphasized the importance of cooperation between Ukrainian companies and EU industrial companies in the post-war reconstruction of Ukraine – starting from the joint production of building materials and ending with railway equipment. To establish a partnership, Ukraine will ensure a business dialogue for all parties.

For his part, European Commissioner Thierry Breton supported Ukraine’s desire for mutually beneficial cooperation, implementation of joint projects with localization in Ukraine, including for the post-war recovery of the country. In particular, the defence industry and the energy sector are promising for the Ukrainian-European partnership. According to Thierry Breton, the industrial recovery of Ukraine and sustainable partnership with the EU will ensure the industrial ecosystems of the European Union, which will have a positive effect on the economies of both sides.

“We will be glad to discuss this issue with Ukrainian and European business as part of our industrial dialogue. Such cooperation will provide new opportunities for Ukrainian businesses. We are also looking for partners for Ukrainian small and medium-sized businesses. The EU Single Market Programme is one of the EU’s financial support programs, for which we are grateful to our international partners,” noted Yuliia Svyrydenko.

According to the results of the meeting, it was decided that the EU would provide 1,500 grants for Ukrainian small and medium-sized businesses to establish business relations with EU partners within the framework of the Single Market Programme. Moreover, 430 grants will be awarded to young Ukrainian entrepreneurs who want to study the experience of running the same business in the EU. 

The start of submission of applications for these grants will be announced on the EU Single Market portal next week.