European Business Association Highlights Seven Key Business Priorities for Ukraine in 2024

by Roman Cheplyk
Friday, January 26, 2024
European Business Association Highlights Seven Key Business Priorities for Ukraine in 2024

The European Business Association (EBA) has outlined seven primary objectives for 2024, focusing mainly on strengthening Ukraine’s journey towards European integration

The priorities, as identified by EBA member companies, include:

  1. Harmonization with EU Legislation: This top priority involves aligning national laws with those of the EU. The EBA's 26 open and industrial committees, each focusing on different sectors, have unanimously agreed on the importance of this integration effort.

  2. Balancing Economic and Military Interests: Another critical area is addressing the mobilization and reservation of company employees. There's a need to balance the country’s economic needs with its military demands. Businesses are essential to the economy, paying taxes that support military financing. Hence, a dialogue is crucial to strike a balance between these two fronts.

  3. Initiating an EU Dialogue Platform: With the onset of negotiations for EU accession, the EBA aims to represent the business voice at this level, leveraging its extensive experience and expertise in European integration.

  4. Promoting Ukraine-EU Trade: Efforts are underway to enable businesses to expand beyond Ukraine and integrate into European markets and supply chains. This includes enhancing logistics capacities and resolving issues through international dialogues.

  5. Further Currency Liberalization: Encouraging current and potential investors through continued liberalization of currency regulations is another focus area. This includes facilitating the repatriation of dividends, renewing SWIFT transfers, and expanding transaction limits.

  6. Energy Sustainability and Efficiency: Adapting legislation and developing investor-friendly regulations in the energy sector, including renewable energy sources, gas, and electricity, are critical. The focus is also on decentralization and diversification in this area.

  7. Expanding Business Financing and Risk Insurance Tools: This includes widening the scope of military risk insurance and leveraging existing insurance programs. Enhancing access to bank financing, donor projects, and grants is also seen as vital for business growth and sustainability.

These priorities underscore the EBA's commitment to driving economic growth and integration, ensuring that Ukraine's business environment is conducive to both local and foreign investors.

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