Today, on 29 June, 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 bill 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 to improve their competitiveness. In particular, the components of the program 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 First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine Yuliia Svyrydenko.

The First Deputy Prime Minister of Ukraine added that this was also another opportunity for European businesses to strengthen business ties with Ukraine, invest in Ukrainian business projects and join the reconstruction of Ukraine.

Thus, in 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.

To learn more, please follow the link. Information about the previous grant proposals of the European Commission under the general title “ReadyForEU” is available at the following link.

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 2 February 2023, in Kyiv by Prime Minister of Ukraine Denys Shmyhal and President of the European Commission Ursula von der Leyen.