European Economy Would Benefit from Ukraine's Integration into the EU

Jun 14, 2013, 03:30 ET from Worldwide News Ukraine

KYIV, Ukraine, June 14, 2013 /PRNewswire/ --

The full integration of Ukraine into the EU will provide an untapped potential for the economic growth, stability and security in Europe. This was stated by the president of Ukraine Viktor Yanukovych at the plenary session of the 18th Central Europe Summit of Heads of State in Bratislava, Slovakia, where 21 European presidents discussed Growth Strategy for Post-Crisis Recovery at the Summit.

"I am convinced that the accession of Ukraine's domestic market, its industrial and agricultural facilities in the European Economic Area will have a significant positive impact on the European economic situation and will help Europe overcome the crisis," he said. "That is why the signing of this historic document is mutually beneficial for both Ukraine and the European Union," concluded the president.

While talking about the EU membership, the Ukrainian leader stressed that such prospects impacted the implementation of major reforms and building European societies in Central Europe. Concurrently, the European Union remained both an example and a catalyst of the political, economic and social reforms underway in Ukraine. At the same time, continuing the EU enlargement process, which would include Ukraine, could serve as an important tool for overcoming the current economic crisis, said President Yanukovych.

Talking about the preparations for the signing of the EU-Ukraine Association Agreement and the creation of the Deep and Comprehensive Free Trade Area, the president said that this would allow for the Ukrainian economy to integrate into the EU internal market, and therefore the Eastern European country's economy would undergo quality upgrades and overall modernization.

On the other hand, the European businesses would have an opportunity to operate freely on the Ukrainian market in the framework of clear standards and rules, mentioned the Ukrainian President. Ukraine particularly aimed at building the spirit of partnership and increasing mutual understanding between the countries in Central and Eastern Europe, which demonstrate significant integration potential, he concluded.

Notably, at the Central Europe Summit all the participants supported Ukraine's aspirations of European integration and spoke in support of further developing bilateral relations with Ukraine.

SOURCE Worldwide News Ukraine