Ukraine is close to enacting the €4.2B Single Market program with the EU.

The government has approved a draft presidential decree, which creates a Ukrainian delegation for negotiations with the European Commission to conclude an agreement with the EU on Ukraine’s participation in the EU’s Single Market program for 2021 – 2027. The program provides EU financial support with a budget of €4.2B for seven years. It will simplify access to markets, help create a favorable business environment, promote business development and growth, and ensure the competitiveness and stability of companies and entire economic sectors. It is envisaged that Ukraine will also participate in the Enterprise Europe Network and Erasmus for Young Entrepreneurs. Among other things, 24% (€1B) of the program’s budget is allocated to support small and medium-sized businesses. And 13%, or €546M, will be for creating and disseminating high-quality European statistics.