Improving conditions for doing business in Ukraine (October, 2013)

Ukraine and the EU seek to sign the Association Agreement with the creation of the deep and comprehensive free trade area at the Eastern Partnership summit on November 29 in Vilnius.

Ukraine’s joining the free trade zone with the EU will substantially change the business climate in Ukraine and open up new prospects for investors. First of all changes will bring reformation of the licensing system and decreasing bureaucratic inhibitions and the duplication of the inspecting functions of state authorities.

At the same time, within the Association framework the Ukrainian government assumes a commitment to protect foreign investment and make fair and intelligible rules for doing business without any artificial restraints. Moreover, according to the words of EU Commissioner Stefan Fule EU is ready t provide Ukraine with EUR 186 mlm in financial assistance, that is seen as “direct support of implementation of the association agreement”. EU Commissioner is also considering a possibility of allocating EUR 610 mln from EU to Ukraine after the country meets all conditions of the EU.