Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Європейська Бізнес Асоціація 1-й поверх, Андріївський узвіз, 1 A Київ, 04070, Україна Тел.: (044) 496 06 01 Факс: (044) 496 06 02 21 September, 2011 PRESS-RELEASE DCFTA as a quantum leap towards EU-integration and a surge for investments flow The European Business Association as a strong proponent of free trade area between the European Union and Ukraine underlines its consistent commitment and support of conceivable DCFTA signing. DCFTA (deep and comprehensive free trade agreement) is a part of the EU Association Agreement tailored to hone Ukraine’s trade policy environment and promote Ukraine’s integration into European market. The concept of the DCFTA involves high level of regulatory convergence. Coupled with the credible internal policy actions essential to complete the negotiation process, FTA agreement will serve as a powerful stimulus for the overall country’s economy and eventually enhance the competitiveness and investment attractiveness of Ukraine. All this puts a spotlight on the Ukrainian government’s fiscal policy, regulatory practices, and implementation of reforms. The European Business Association constantly streamlines its efforts and activities towards refining the regulatory environment in Ukraine thus pushing for country’s growth. The EBA has outlined strategic vectors of development vital to unlock Ukraine’s potential as a stable and reliable business environment. The set of proposal and policy actions initiated by the Association has been already included into the Aide Memoire of the recent meeting of Domestic and Foreign Investors Advisory Council (DFIAC). Among the top-priority hurdles and challenges necessary to be tackled on the road to DCFTA finalising the EBA regards the following: taxation system imperfections, violation of intellectual property rights (IPR), imbalanced Technical regulations, excessive requirements and delays in customs clearance of goods, monopolised land market, overwhelming bureaucracy and rule of law neglecting. The solutions tailored by the EBA have been elaborated in accordance to the most efficient European practices of doing business and adapted to Ukrainian environment. The set of proposals has been already submitted to the European Commission and Ukrainian Government. The potential signing of the DCFTA encouraged by a stable negotiation process will not only restore the country’s economic growth and boost export potential in the near-term, but also help rebalance the economy and offset further weakness of the country’s trade balance in the long-term. The eventual success of the negotiation process depends largely on how effectively the structural and regulatory reforms are carried out by the Ukrainian Government. Anna Derevyanko, EBA Executive Director: “Ukraine’s integration and trade consolidation with the European Union has always been a firstpriority objective of the business community represented by the EBA. We pin hopes at the DCFTA signing in the near-term, as this document will bring multiplier effect and soar country’s attractiveness for further European investments and serve as a prerequisite to promote the reform-oriented policy of Ukrainian government stakeholders. If the DCFTA negotiations toe the stable line, entering EU-Ukraine free trade area will refine Ukraine’s exports potential and trade environment, harmonise overall business governance and install the essentials of 2 EU regulatory framework. Signing DCFTA will surge the balance of payments and fetch premium for current and future investors into Ukrainian economy.” Thomas Fiala, Chief Executive Officer, Dragon Capital, EBA President: “The EBA along with the majority of Ukrainian population strongly supports further integration with the EU. Signing of the Association Agreement and the DCFTA is important to accelerate Ukraine’s development as a democracy and free market economy. Synchronizing domestic legislation, rules and regulations with those of the EU will be positive for business, increase domestic and international investment and boost growth. Ukraine has come very close this time and we trust the chance will not be missed.” For additional comments please contact Maria Savchenko EBA PR and Communications manager by telephone: +38 (044) 496-06-01, +38 (067) 215-81-95, or by e-mail: [email protected] INFORMATION: European Business Association (EBA) - the premier organisation for foreign business in Ukraine - brings together over 800 European, Ukrainian and international companies. The EBA was established in 1999 as a forum for discussion and resolution of problems facing the private sector in Ukraine. This initiative of business people was supported by the European Commission. Being a non-profit Association of legal entities, the EBA sees its core mission as representing the interests of European and domestic investors in Ukraine, and improving the investment climate has been the EBA’s major concern since the moment it was founded. Please visit our web-site for additional information www.eba.com.ua. The priority tasks of the EBA in 2011 are: reducing obstacles for investment, support for different instruments promoting economic integration with the EU and facilitating positioning of Ukraine as a country attractive for investment and business partnership.