Government takes step towards signing EU’s Single Market Programme for EUR 4.2 billion

The Government has approved a draft decree of the President of Ukraine “On the delegation of Ukraine to participate in negotiations with the European Commission on conclusion of an Agreement between Ukraine, on the one hand, and the European Union, on the other hand, on Ukraine’s participation in the European Union’s Single Market Programme (2021-2027)”. The relevant decision was approved at a meeting of the Cabinet of Ministers of Ukraine on January 17, 2023.

The document provides for establishment of a Ukrainian delegation for negotiating the text of the Agreement and its subsequent signing, as well as the approval of directives for the delegation.

“The European Union’s Single Market Programme is a EUR 4.2 billion financial support package designed to last for 7 years (from 2021 to 2027). Ukraine’s accession to this program would allow us to strengthen cooperation with the EU, which is especially important given the European integration processes and Ukraine’s EU candidate status,” said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

The programme should facilitate access to markets, create a favorable business environment, promote business development and growth, ensure competitiveness and sustainability of companies and entire sectors of the economy (combining ecosystems, clusters). It will help develop the business environment, including mentoring schemes. Among other things, participation in the European Enterprise Network (EEN), Erasmus for Young Entrepreneurs (EYE), and joint cluster initiatives is envisaged.

In particular, the program funding is aimed at:

• Strengthening the competitiveness and sustainability of small and medium-sized enterprises (SMEs) – funding of 24% of the total programme budget, approximately EUR 1 billion – which would provide an opportunity to offer various forms of business support;
• Creation and dissemination of high quality European statistics – funding of 13% of the total programme budget, approximately EUR 546 million – which would allow Ukraine to participate in an extended partnership focused on development of new European statistics using multiple data sources, advanced data analysis methods, smart systems, and digital technologies.

IC UAC according to the MEU