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    Position Paper on Measures to facilitate Economic inflows in Ukraine

    Posted on by Weronika Marzec

    Position Paper on Measures to facilitate Economic inflows in Ukraine

     

    European Enterprise Alliance, Union of Entrepreneurs and Employers (ZPP) and Union of Ukrainian Entrepreneurs (SUP) express our support for the Ukraine Facility, an innovative and strategic initiative that holds the key to shaping the economic recovery and modernization of Ukraine. Our exploration delves deeply into vital sectors, offering actionable examples and detailed recommendations to bolster the Ukraine Facility’s efficacy and foster sustainable economic recovery. We believe the following steps are necessary to facilitate economic inflows into Ukraine.

    Strategic State Property Management System

    Ukraine’s economic foundation necessitates the establishment of a robust State Property Management System. Within this framework, the identification and legislative delineation of strategic companies emerge as imperatives. Notably, entities such as “Ukrposhta,” the national postal service, and “Ukrzaliznytsia,” the national railway company, serve as linchpins in Ukraine’s infrastructural framework and connectivity matrix. Introducing foreign entities into these strategic sectors holds promise for catalyzing technological innovations, refining service delivery, and optimizing operational efficacy. To navigate this collaboration, an unequivocally transparent bidding mechanism, fortified by rigorous regulatory oversight, is paramount. Concurrently, Ukraine’s governmental apparatus should proactively curate a comprehensive database, delineating eligible organizations poised for foreign investments. From the European Union’s vantage point, this symbiotic engagement crystallizes a conduit for intensified economic harmonization with Ukraine. Such collaboration harbours the potential to invigorate trade corridors, stimulate investments, and nurture mutual growth trajectories. Furthermore, the infusion of European acumen and technological prowess augments Ukraine’s infrastructural landscape, catalyzing advancements, and modernizations across pivotal sectors. Consequently, for Ukraine, this collaborative nexus metamorphoses into an avenue for accelerated infrastructural progression and technology assimilation.

    Capacity Building at the Local Level

    In the wake of the invasion, the imperative lies in prioritizing the reconstruction endeavours of local communities (hromadas). To enhance their efficacy, local governing entities necessitate comprehensive training initiatives, specialized technical acumen, and requisite financial allocations. The inception of regional development funds serves as a catalyst, empowering hromadas to spearhead pivotal infrastructure undertakings, ranging from the refurbishment of thoroughfares to the rejuvenation of educational and healthcare infrastructures. Collaborative frameworks, notably encompassing public-private synergies, become instrumental in engendering knowledge dissemination, galvanizing resource allocation, and fostering robust community engagement. Such mechanisms ensure that the tenor of reconstruction resonates harmoniously with localized imperatives and aspirations. From the European Union’s strategic standpoint, the cultivation of stability within contiguous territories emerges as a linchpin. Through amplifying support mechanisms for localized governance paradigms and developmental trajectories, the EU champions the realization of a harmonious and prosperous European environment. Furthermore, the deep-seated interregional collaborations fortify diplomatic and economic bonds, thereby cultivating a propitious milieu conducive to expansive trade, investments, and multifaceted partnerships. For Ukraine, this manifests as a pivotal juncture for grassroots empowerment, endowing communities with the requisite instruments and mandates to orchestrate their developmental blueprints. This overarching strategy accentuates the ethos of inclusivity, ensuring an equitable distribution of benefits across all regions vis-à-vis Ukraine’s expansive reconstruction and developmental ventures.

    EU Support: Joint Investment Funds and Guarantees

    To invigorate and channel private direct foreign investments, Ukraine’s collaboration with the European Union becomes imperative in establishing synergistic investment frameworks and assurances. Consider the conceptualization of a “Ukraine-EU Investment Fund” as an exemplar, facilitating the amalgamation of financial reservoirs, risk attenuation, and offering enticing fiscal incentives tailored for foreign investors. Instituting safeguards for a designated portion of investments serves to assuage apprehensions stemming from potential political volatility, legislative modifications, and currency oscillations, thereby galvanizing foreign enterprises to venture into burgeoning sectors encompassing renewable energy, technological innovation, and advanced manufacturing. Such collaborative endeavours between Ukraine and the EU are paramount to invigorating private foreign direct investments, underpinned by the creation of collaborative investment mechanisms that attenuate associated risks, thereby fashioning an alluring investment milieu within Ukraine’s promising sectors. From the vantage point of the European Union, the ramifications are manifold, encapsulating accelerated economic proliferation and enriched trade conduits with Ukraine. Such investment ventures not merely invigorate economic dynamism but also engender strategic congruence, bolstering regional stability and affluence. Conversely, for Ukraine, this symbiotic engagement bequeaths a plethora of advantages, encompassing substantial financial influxes, infrastructural amplification, and catalyzed innovation trajectories. The acquisition of EU-endorsed investment assurances augments investor trust and confidence, constituting a quintessential linchpin for Ukraine’s multifaceted recuperation, contemporary evolution, and sustainable growth trajectory.

    Simplification of Tax Administration

    Traversing the intricate labyrinth of Ukraine’s tax architecture presents formidable hurdles for Micro, Small, and Medium Enterprises (MSMEs). The imperative lies in orchestrating a more streamlined tax milieu, necessitating the recalibration of fiscal statutes, diminution of administrative impediments, and proffering stimulants tailored for nascent ventures and SMEs. Consider the implementation of a graduated tax framework tethered to revenue metrics, dispensing fiscal concessions to enterprises propelled by innovation, and instituting a specialized hotline dedicated to addressing tax quandaries as pivotal mechanisms fostering an amiable commercial ecosystem. Engaging with global tax mavens, periodic evaluations, and assimilating digital innovations serve to refine fiscal protocols, augment compliance metrics, and catalyze economic momentum. The simplification of Ukraine’s fiscal landscape emerges as a linchpin for nurturing an amicable commercial milieu, wherein the revision of fiscal statutes, diminution of bureaucratic impediments, and incentivization converge to galvanize entrepreneurial dynamism, innovation, and commercial expansion. The simplification also provides both parties with better trade opportunities and market access, it can simply encourage European businesses to invest and operate more freely in Ukraine. Conversely, for Ukraine, this presents entrepreneurial growth, economic diversification, and job creation.

    Reforms in Property Rights Protection, Judicial System, and Anti-Corruption Measures

    Enhancing property rights, instigating meaningful judicial reforms, and fortifying anti-corruption measures stand as indispensable pillars for Ukraine’s governance and economic progression. The introduction of transparent land registration mechanisms, coupled with an invigorated commitment to judicial independence and the inception of specialized anti-corruption tribunals, holds the promise to substantially elevate investor confidence and ensure a just societal framework. It would be prudent to explore innovations like blockchain in land registry processes, prioritize comprehensive training modules for the judiciary, and institute stringent anti-corruption statutes accompanied by consequential penalties.

    Insurance and Reinsurance of Investments

    In a volatile post-conflict environment, insuring and reinsuring investments become essential. Ukraine can collaborate with international insurance agencies, financial institutions, and risk assessment firms to develop customized insurance products tailored to investors’ needs. Offering political risk insurance, property insurance, and investment guarantees can safeguard foreign investments, mitigate risks associated with geopolitical uncertainties, and foster long-term partnerships. Creating a dedicated investment protection agency, offering incentives for insured investments, and establishing clear dispute resolution mechanisms can further enhance investor confidence and attract capital inflows. This is a basic requirement for mutual trust and collaboration that lays the groundwork for a transparent, predictable business environment.

    Financing green transformation

    On June 23, 2022, Ukraine gained the status of a candidate for accession to the European Union[1]. The experience of other countries shows that accession to the EU usually requires considerable effort and time from candidate countries, especially in terms of economic and regulatory reforms. Thus, the national economy will face profound transformations related to the EU requirements and standards implementation.

    The “green” energy transition and achieving carbon neutrality are among the most significant issues that have always required significant financial resources. And in the context of war, along with constant shelling and logistical constraints, the cost of each green project for business increases significantly.

    The Ukraine Facility is one of the updates to the EU’s Multiannual Financial Framework, which should complement existing mechanisms to support Ukraine on its path to the EU. It is expected that 78% of the funds will be allocated to the state budget to ensure macro-financial stability, and 16% will be used to create an investment instrument to cover risks in priority sectors[2]. Only 5%, or €2.5 billion, will be allocated to support reforms and economic transformations necessary for European integration, including environmental and climate protection.

    At the same time, the EU plans to replace some other support programs with the Ukraine Facility. As a result, not only will Ukraine not receive €923 million for green transformation under the MIP (a separate seven-year plan (Multi-annual Indicative Program, MIP) approved for Ukraine in 2021 as a signatory to the Association Agreement with the EU), but it may also forget about €3.5 billion in aid it would have been eligible for under the Instrument for Pre-Accession Assistance until 2027[3]. Therefore, it is advisable to consider supporting the green transition of the Ukrainian economy within the Ukraine Facility, for example, in the form of grants or other forms of co-financing for projects in leading industries. Taking into account that only a minor part of Ukraine Facility funds will be allocated to support reforms for environmental and climate protection, it is vital to keep and expand other sources of funding as well. Moreover, not only small and medium-sized businesses, but also large industrial companies should have access to financing. At the same time, every project should comply with the EU taxonomy framework. This would be in line with the established practice of supporting EU candidate countries.

    Also, in the process of implementing joint projects, the European Commission will receive a positive signal about our country’s steps toward harmonizing the economic and climate goals of Ukraine and the EU. The experience of European institutions in supporting the “green” transformation of the economy will contribute to the development of similar financing instruments in Ukraine.

    Conclusion

    The European Enterprise Alliance, Union of Entrepreneurs and Employers (ZPP), Union of Ukrainian Entrepreneurs (SUP) and European Business Association (EBA) advocate for strategic reforms, capacity-building initiatives, EU collaboration, tax simplification, governance strengthening, and investment protection measures. By providing concrete examples and detailed recommendations, we aim to ensure the Ukraine Facility’s success, support Ukraine’s economic recovery, and pave the way for sustainable growth, prosperity, and European integration.

    ***

    [1] European Council. “Ukraine.” Www.consilium.europa.eu, 10 Feb. 2023, www.consilium.europa.eu/en/policies/enlargement/ukraine/.

    [2] “Proposal for a REGULATION of the EUROPEAN PARLIAMENT and of the COUNCIL on Establishing the Ukraine Facility.” 20 June 2023.

    [3] NEIGHBOURHOOD, DEVELOPMENT and INTERNATIONAL COOPERATION INSTRUMENT MULTI-ANNUAL INDICATIVE PROGRAMME (2021-2027). European Commission.

     

    See more: 18.01.2024 Position Paper on Measures to facilitate Economic

    An infrastructural puzzle. Official opinion of Piotr Koryś, the Chief Economist of the Union of Entrepreneurs and Employers

    Posted on by Weronika Marzec

    Warsaw, 9th January 2024

     

    An infrastructural puzzle.
    Official opinion of Piotr Koryś, the Chief Economist of the Union of Entrepreneurs and Employers

     

    In a rather interesting interview, Marcin Piątkowski, this year’s recipient of the ZPP Award for Economist of the Year, stated that Poland could follow the path of Spain or Italy, that is, achieve a comparable level of prosperity and subsequently stop catching up with the global leaders of growth. Or gamble like Real Madrid CF and advance to the top league. Piątkowski listed out several factors that may determine this. What characterises the countries that have achieved the greatest economic success, and are in fact today in the top league, is not only their attention to the quality of institutions, audacity in the pursuit of development policies, readiness to implement measured public policies and infrastructural investments – in a nutshell: investing in the future – but also, and perhaps above all, cohesion and continuity of development policies.

    Let’s have a look at this in the context of the political changes taking place in Poland, shall we? Continuity concerns infrastructural policies or regulatory and institutional solutions. Disputes regarding the latter group aside, what signals are the “brigands” of the newly formed coalition sending about the projects that are to become a driver of development in the decades to come? I’m not pondering whether they were completely well designed or not; one could probably find a fault here and there. I’m contemplating the modus operandi of the Polish state itself – stretched between two options: policies and investments implemented within the perspective of a single term, or policies and investments implemented beyond political divisions.

    Two major projects left by the Law and Justice (PiS) government to their successors are the remodelling of the country’s transport infrastructure basing on a centrally-located airport of an at least regional scale and a high-speed railway network, and yet another attempt to construct a Polish nuclear energy sector, or rather to continue the project initiated by Donald Tusk’s previous government. The former was reduced in the public debate to a three-letter abbreviation: CPK. Some defend it, others question the point of a large airport. Some even consider it to be a supposed symbol of gigantomania, so typical of authoritarians(!).

    Nevertheless, CPK is, first and foremost, a project of a thorough modernisation of the Polish transport infrastructure, which may become the starting line to the next development leap. Those were infrastructural investments that allowed “Asia’s next giants” (to quote Alice Amsden) to maintain their dynamics of development. New, fast infrastructure should support the transformation of Poland into the new “industrial heart of Europe” is what Piątkowski talked about in the above-mentioned interview.

    In a sense, the nuclear project is complementary. Over the next dozen years, the power units of coal-fired power plants (both hard and brown coal) are to be phased out – a result of not only consumption, but also of the EU’s climate policy. Nuclear power plants can provide a stable basis for the future energy mix: gas-fired energy is insufficiently certain for future development, while renewable technologies are still a far cry from ensuring supply (and probably also price) stability. Stability of energy supplies, along with the process of further electrification of the economy, will be key to ensure we develop. From the point of view of entrepreneurs, it will be one of the crucial decision-making factors when undertaking and developing new investments.

    Neither of these projects could be implemented within a horizon of 4 or 8 years, which is a typical term in democratic Poland. Their implementation can only be based on a vision across party lines and in the long term. A vision that is not undermined by petty disputes and conflicts or personal dislikes. One can have a number of reservations towards the policies (and politics) of the previous administration, so perhaps the reasons to hold the predecessors accountable are justified. It must, however, be stressed that PiS had never actually broken continuity in the area of infrastructural projects. This was perhaps the result, critics will surely say, of regulatory pressure from the EU. Infrastructural projects carried out in the first and second decades of the 21st century were usually largely financed from EU aid funds. Therefore, any redefinition of investment goals was out of the question. Regardless – even if this was the case – the road network project or railway investments were carried out in a continuous manner.

    With regard to Law and Justice’s large infrastructural projects, there are varying signals coming from the camp that will soon take over power. There are fears both in relation to CPK and nuclear energy that investments might at least slow down. Meaning, for example, that nuclear power plants may not be built when they are really needed. Perhaps the party that will no longer be in government has only itself to blame – both projects are in their infancy. And yet recently, the politician responsible for CPK assured that the first planes would take off in… 2027.

    Both projects are essential. Decisions regarding audits, new investors or better (optimal) solutions are resolutions that postpone their implementation increasingly into the distant future. Just look around. Having made the decision to build an airport near Berlin, its implementation was continued in spite of rising costs and better ideas. Having made the decision to develop nuclear energy in Finland, locations would not change, and no further audits were carried out despite changing government.

    These projects are just but two examples. Were the best possible solutions selected? Probably not. This is never the case – no government ever chooses perfectly. However, large public investments have been thus far one of the few areas of political consensus. Abandoning it today will probably mean not only postponing the implementation of these projects that Poland needs into an unknown future, but also starting a new series of conflicts and ruptures in continuity. Who will stop the new champions in 4 or 8 years from doing what is being done today? Unless someone believes again (and this is probably the norm in our country) that they would never lose again…

    Piotr Koryś, Ph.D.
    Chief Economist of the Union of Entrepreneurs and Employers

    See more: 09.01.2024 Opinion An infrastructural puzzle. Official opinion of Piotr Koryś, the Chief Economist of the Union of Entrepreneurs and Employers

    Position Paper on Ukraine Facility

    Posted on by Weronika Marzec

     


    Position Paper on Ukraine Facility

    European Enterprise Alliance, Union of Entrepreneurs and Employers (ZPP) and Union of Ukrainian Entrepreneurs (SUP) express our support for the Ukraine Facility, an innovative and strategic initiative that holds the key to shaping the economic recovery and modernization of Ukraine. Rooted in our commitment to fostering stability, democracy, and prosperity, we endorse this facility, recognizing its critical role in supporting Ukraine’s reform efforts and fostering its path toward potential EU accession.

    Backround

    The European Commission’s proposal for the Ukraine Facility, presented in June 2023 addresses the urgent need for a comprehensive strategy to assist Ukraine in overcoming the multifaceted challenges it faces. The facility encompasses a series of actions within various pillars, commitments, and measures designed to provide financial assistance, promote stability, and foster Ukraine’s integration with the European Union. Following, Ukraine’s government has also presented an initial draft of the reform plan for the Ukraine Facility program to the European Commission, outlining the earmarking of €50 billion for Ukraine in November 2023.

    The draft consists of 4 main blocks:

    – macroeconomic scenarios;

    – basic reforms;

    – economic reforms;

    – key sectors of the economy that will help Ukraine grow now and in the future.

    “This is a preliminary plan to start consultations with our European colleagues. Work on the plan will continue with international partners, civil society and Ukrainian business,” said Prime Minister of Ukraine Denys Shmyhal.

    Main points to be addressed on the Ukraine Facility:

    Financial Assistance and Budget Adaptations:

    At the heart of the Ukraine Facility is the provision of financial support and the necessity for adaptations to the EU budget. The proposed allocation of up to €50 billion for 2024 to 2027, with a focus on a balanced mix of loans and grants, reflects a thoughtful approach to addressing Ukraine’s macro-financial stability. The proposed establishment of the ‘Ukraine Reserve’ as a new special instrument ensures flexibility and compliance with its own resources ceiling. The European Parliament’s call to keep the budget at a maximum of €50 billion and assign 8% to Pillar III demonstrates a commitment to future-proofing the facility’s impact[1]. We support the proposed allocation and advocate for a comprehensive strategy that ensures the effective utilization of funds to enhance Ukraine’s economic resilience.

    Legislative Process and Oversight:

    The legislative process for the Ukraine Facility involves the approval of two key acts: the Ukraine Facility regulation and the mid-term revision of the Multiannual Financial Framework (MFF) for 2021 to 2027[2]. The European Parliament, as a crucial part of the budgetary authority, insists on being kept informed and involved in key decision-making steps. The establishment of advisory committees, such as the European Committee of the Regions and the European Economic and Social Committee, highlights the commitment to democratic legitimacy and regional involvement[3].

    Transparency, Audit, and Control:

    The proposed framework for transparency, audit, and control within the Ukraine Facility ensures accountability and responsible use of funds. The European Court of Auditors’ recommendations for effective control arrangements and incontestable audit rights are crucial for the success of all three pillars[4]. The emphasis on establishing an independent audit board adds an extra layer of accountability to the implementation process. We underscore the importance of robust control mechanisms to guarantee the efficient use of resources, promoting trust in the facility’s objectives.

    Conclusion:

    The European Enterprise Alliance, Union of Entrepreneurs and Employers (ZPP) and Union of Ukrainian Entrepreneurs (SUP) stand firmly behind the Ukraine Facility. Our endorsement is not only a gesture of support but a commitment to a transformative strategy that aligns with our vision for a stable, democratic, and prosperous Europe. We call for a swift and collaborative implementation of the Ukraine Facility, urging policymakers, member states, and civil society to work together to ensure the success of this pivotal initiative for Ukraine’s future.

    References:

    “Questions and Answers – a New Ukraine Facility.” European Commission, 2023, https://ec.europa.eu/commission/presscorner/detail/el/qanda_23_3353

    “The Government of Ukraine Has Submitted a Preliminary Draft Reform Plan for the Ukraine Facility Program to the European Commission.” UkraineInvest, Nov. 2023,
    https://ukraineinvest.gov.ua/en/news/06-11-2023-1/

    Pari, Marianna, and Tim Peters. Establishing the Ukraine Facility. European Parliament, 2023, https://www.europarl.europa.eu/RegData/etudes/BRIE/2023/753954/EPRS_BRI(2023)753954_EN.pdf

    “Ukraine Facility” and “Cyber Solidarity Act”: EU Auditors Give Their Opinions on European Commission’s Recent Proposals.” European Court of Auditors, 5 Oct.
    https://www.eca.europa.eu/en/news/NEWS-OP-2023-02-03

    Proposal for a REGULATION of the EUROPEAN PARLIAMENT and of the COUNCIL on Establishing the Ukraine Facility. European Commission, 20 June 2023, https://neighbourhood-enlargement.ec.europa.eu/system/files/2023-06/COM_2023_338_1_EN_ACT_part1_v6.pdf

    ***

    [1]  Pari, Marianna, and Tim Peters. Establishing the Ukraine Facility. European Parliament, 2023, https://www.europarl.europa.eu/RegData/etudes/BRIE/2023/753954/EPRS_BRI(2023)753954_EN.pdf

    [2] The legislative process for the Ukraine Facility involves the approval of two key acts: the Ukraine Facility regulation and the mid-term revision of the Multiannual Financial Framework (MFF) for 2021 to 2027.

    [3] Pari, Marianna, and Tim Peters. Establishing the Ukraine Facility. European Parliament, 2023, https://www.europarl.europa.eu/RegData/etudes/BRIE/2023/753954/EPRS_BRI(2023)753954_EN.pdf

    [4] ““Ukraine Facility” and “Cyber Solidarity Act”: EU Auditors Give Their Opinions on European Commission’s Recent Proposals.” European Court of Auditors, 5 Oct. 2023, www.eca.europa.eu/en/news/NEWS-OP-2023-02-03. Accessed 14 Dec. 2023.

     

    See more: 24.12.2023 Position Paper on Ukraine Facility

    Commentary – European Commission’s Enlargement Package for Ukraine and Moldova

    Posted on by Weronika Marzec

    Warsaw, 24 December 2023

    Commentary – European Commission’s Enlargement Package for Ukraine and Moldova


    On November 8, 2023, Thursday, the European Commission, under the leadership of President Ursula von der Leyen, embarked on significant strides towards the enlargement of the European Union, elucidating the present stance of candidate countries[1]. Notably, Ukraine and Moldova play pivotal roles in the ongoing operations of the European Enterprise Alliance within these nations. The endorsement of the 2023 Enlargement Package marked a crucial juncture in the EU’s dedication to the accession processes of diverse countries. President von der Leyen underscored the imperative nature of completing the Union, citing historical significance and substantial economic and geopolitical benefits for both accession countries and the EU at large. The merit-based accession process remains paramount, with the progress of each country serving as a determining factor.

    In a groundbreaking move, the Commission advocated for the initiation of accession negotiations with Ukraine and Moldova, acknowledging their considerable advancements in fulfilling the outlined steps for EU membership. Despite the ongoing challenges, Ukraine has showcased a steadfast commitment to reform, implementing transparent pre-selection systems, judicial reforms, anti-corruption measures, and aligning with the EU acquis. Similarly, Moldova has made notable strides in justice reform, anti-corruption endeavours, and various other crucial areas. The Commission’s approval for negotiations aligns with the positive trajectory of their reforms. Detailed progress reports spotlight the transformative efforts made by these countries across various spheres, showcasing their dedication to European values and standards. President von der Leyen reiterated the EU’s support for these accession processes, emphasizing the shared benefits of previous enlargements. The Commission stands prepared to report on the progress of key measures adopted by Ukraine and Moldova by March 2024. This strategic move follows the applications for EU membership submitted by Ukraine, Moldova, and Georgia in February 2022. The conferment of candidate status to Ukraine and Moldova in June of the same year laid the foundation for the current recommendations.

    “Ukraine has completed – I was there over the weekend and was convinced of it – well over 90% of the necessary steps that we set out last year in our report.’’ – Ursula Von der Leyen, President of the European Commission[2].

    The prospective membership of Ukraine and Moldova in the European Union presents substantial advantages and benefits for both the candidate countries and the EU as a whole.

    To start with, accession would act as a catalyst for economic development and growth in both nations. By aligning with the EU’s common market, Ukrainian and Moldovan businesses would gain enhanced access to a vast and prosperous consumer base. Adhering to EU standards would not only improve the quality of goods and services but also foster innovation and competitiveness within these economies. Following, EU membership provides significant political stability and security. For Ukraine, a country dealing with the aftermath of Russia`s war on Ukraine, integration into the EU represents a crucial step towards consolidating democratic institutions and the rule of law. Moldova, too, would benefit from the shared security framework of the EU, contributing to regional stability. Access to EU funds and support mechanisms would empower both countries to address ongoing challenges, including corruption, and strengthen their governance structures. Moreover, cultural, and societal ties between the EU, Ukraine, and Moldova would be reinforced, fostering a sense of unity and cooperation. Additionally, Both Ukraine and Moldova have shown a shared commitment to tackling global challenges, particularly in reaching climate targets, in tandem with their pursuit of EU membership and they have stated that they are committed to helping with the energy transition, in line with the climate goal of the European Union. Through the integration of renewable energy initiatives, environmentally sensitive legislation, and sustainable behaviours, Ukraine and Moldova hope to play key roles in furthering global efforts towards a greener future. The exchange of ideas, people, and cultural influences would enrich the social fabric of the EU, promoting diversity and understanding. In essence, the accession of Ukraine and Moldova into the EU holds the promise of a more integrated, stable, and prosperous European continent, reflecting the core values of democracy, cooperation, and shared prosperity.

    As the EU continues its expansion, these developments underscore the union’s commitment to fostering stability, democracy, and prosperity in its neighbouring regions. The upcoming months will undoubtedly witness further discussions and progress updates, shaping the future landscape of a more integrated and united Europe.

    ***

    [1]  “Commission Adopts 2023 Enlargement Package, Recommends to Open Negotiations with Ukraine and Moldova, to Grant Candidate Status to Georgia and to Open Accession Negotiations with BiH, Once the Necessary Degree of Compliance Is Achieved.” European Commission , 8 Nov. 2023, ec.europa.eu/commission/presscorner/detail/en/ip_23_5633.

    [2]  “Press Corner.” European Commission, 8 Nov. 2023, ec.europa.eu/commission/presscorner/detail/en/statement_23_5641.

     

    See more: 24.12.2023 Commentary: European Commission’s Enlargement Package for Ukraine and Moldova

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