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«Ýôôåêòèâíûå èíñòðóìåíòû ñîâðåìåííûõ íàóê – 2012»

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A.A Parkhomenko

Donetsk National University of Economics and Trade

after M. Tugan-Baranovsky

                                   Department of Investment management

                                     Scientific consultant: F.A. Moiseyeva

 

Ukraine: Opportunities of Euro integration

and Growing Synergies

Over the past ten years, the canvass of Ukraine-Europe partnership has widened immensely in its scope and content. Let me try to explain the main elements that form the framework of expanding Ukrainian-Euro strategic relationship.

Firstly, the structural construct of Ukraine-Europe partnership is based on shared values of democracy; pluralism; openness; respect for fundamental freedoms; tolerance and a sense of enterprise.

Secondly, both share a common and strategic interest in seeking to ensure stability in economy; in reversing the tide of extremism and terrorism; and addressing a range of global challenges facing the international community from humanitarian disasters to combating piracy and keeping sea and land lanes of communication safe and secure.

Third, the dynamism of our relationship to respond to the global challenges with a view to achieving our shared interests in securing peace, economic growth and development.

Fourth, situating of our ties including trade and commercial linkages in the backdrop of overall emerging trends of globalization including a clear shift towards the Euro integration.

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Scheme: Collaboration of linking factors

Turning to the economic component, that has been the central driving force in the growth of Ukraine-Europe partnership. A key catalyst of ever increasing Ukraine-Europe trade and commercial engagement is the changing face of Ukraine and its economy. Main aspects of Ukrainians growth and development story that have contributed to constructive Ukraine-Europe engagement would be:

Ø  its ability to withstand the global economic pressures in the last couple of years;

Ø  domestically driven growth;

Ø  large market size;

Ø  trade and investment go hand in hand (opportunities for greater business to business cooperation across a range of sectors);

Ø  our desire and concerted efforts to develop Ukraine as a global innovation and knowledge hub.

Still, let me mention some of the key areas where I see tremendous synergies for cooperation. These might resonate with our business priorities, and they are also in line with our national development priorities.

Collaboration in the energy sector is the first to come to my mind. The multi-pronged approach of promoting clean energy, renewable energy. We are determined to develop our solar energy and have also launched a National Solar Mission.

The next area I would like to mention is agriculture and allied technologies. To be sustainable, growth has to be inclusive. Therefore, we have to bring the fruits of development and globalization to the millions of people in rural areas drawing their livelihood from agriculture.

The healthcare sector offers tremendous opportunities for mutually beneficial collaboration. As we seek to meet our developmental goals, our domestic demand for products and services would only increase.

To promote synergies between international businesses and opportunities in Ukraine, on our part, we are determined to put in place a policy framework which facilitates foreign participation.

New opportunities are appearing in Ukraine’s geopolitical strategy. One can predict a situation in which our relations with the EU would largely, perhaps even crucially, depend on the level of our relationships with the Central Europe (CE) states. Ukraine would then be one of the subjects of that political course, so our stand in that interdependence would determine our future prospects.

Ukraine will find itself with the status of a direct neighbor of EU states, which will objectively enhance EU influence on our country. This, in turn, will objectively enhance EU influence on the democratic process, securing human rights and freedoms, strengthening the media, and asserting the key principles of civil society.

The Western European countries need time to perceive this interrelationship. In this situation, the main thing is for us to constantly prove to the international community that we are consistently following this simultaneous course, that we are asserting the principles of a democratic society, of the rule of law, and that our economy is socially oriented.

The emphasis, the EU states could accomplish in the implementation of Ukraine’s European integration strategy, has important objective preconditions. They address several aspects, special cultural legacies, traditions, and mentalities that are close to the corresponding values of the Ukrainian people.

In addition, we must also consider the adequacy of economic transformations. Here we need avoid of vastly depleted capture towards countries seek to utilize the Ukrainian market potential.

Deepening Ukrainian-Polish strategic partnership is in every way especially important in carrying out this process. Poland has recently acquired a fundamentally new geopolitical status, turning into a most serious European partner of the United States, assuming the role of an international integrator of sorts in Central and Eastern Europe. The US-Polish-Ukrainian link should be used most effectively for the movement of Ukraine toward Europe.

Ukrainian political life should take a rather tranquil course recently; no regime-opposition confrontations or conspicuous conflicts within either of the camps. Ukrainian economy will have to play by the new rules, business is prepared to do so.

We must have an adequate legal framework, so no bureaucrats will feel free to act as however they want. If and when we have this, we’ll have plenty of foreign investment and people will come with their money and put it to good use.

 

 

Information sources:

1.     http://www.euractiv.com

2.     http://www.president.gov.ua

3.     http://cs.cirs.kiev.ua

4.     http://www.mfa.gov.ua

5.     http://www.kyiv-capital.com.ua

6.     http://www.interact-eu.net