Ukraine joins EU Single Market program for economy development

At a joint meeting of the Ukrainian government and the European Commission in Kyiv on Thursday, Ukraine signed an agreement with the European Union to participate in the Single Market program and a strategic partnership memorandum in the field of renewable gases.

"The program's budget is 4.2 billion euros, and one of its main components is the development of business competitiveness,"  Prime Minister of Ukraine, Denys Shmyhal, announced on Facebook. "Our participation in this project will contribute to additional support for Ukrainian entrepreneurs, who are the foundation of our economy." 

Ukraine and the EU also concluded a memorandum on strategic partnership in renewable gases, biomethane, hydrogen, and other synthetic gases.

The seven-year (2021-2027) Single Market program is designed to simplify access to the markets of EU countries and promote business and its development, competitiveness, and stability of companies and entire sectors of the economy.

The President of the European Commission, Ursula von der Leyen, and the chief of EU Diplomacy, Josep Borrell, came to Kyiv accompanied by a team of European commissioners to meet with the Ukrainian leadership and show support.

On the eve of the Ukraine-EU summit, the members of the European Parliament approved a resolution where they once again supported Ukraine's membership in the bloc and called on the EU to prepare for the start of negotiations.

We will remind you that the Ukraine-EU summit will take place on February 3.

Reference

In December 2022, the Council of the EU proposed to the European Commission to prepare a step-by-step plan to facilitate Ukraine's access to the single European market.