Ensuring of minimization of large expenses on the adaption and implementation of the clauses of the agreement on a Free Trade Area (FTA) with the European Union and the introduction of European standards in the economy today is a key challenge for Ukraine, which is preparing for the signing of the agreement, Director of the Institute of Economics and Forecasting at the National Academy of Sciences of Ukraine Valeriy Heyets has said.
He gave his opinion at “Ukraine-EU Free Trade Agreement: Challenges and opportunities” international conference organized by the International Center for Policy Studies (ICPS) in Kyiv on Thursday, September 26.
Analyzing nearest European neighbors’ experience of joining the EU, in particular, Poland, Heyets reminded that the introduction of the European standards in the Polish economy was financially supported by the EU, including the writing off of the state debt.
He said that today, for Ukraine the issue of receiving the similar guarantees by the EU, first of all, on the realization of reforms in part of the adaption of European standards and technical regulations, is still open.
According to him, expenses of the Ukrainian economy on the adaption and implementation of only European laws in the area of environment protection or so-called ‘ecological standards’ will total around 1-2 percent of GDP in next five or six years.
“The most generalized assessments are $50-100 billion. Expenses for separate sectors have not yet been calculated: metal, chemical industries and agriculture,” he said.
He said that the serious challenge for the said sectors is Russia’s declared intend to close joint projects with Ukraine if the country signs the FTA agreement with the EU.
He said that the elaboration of efficient measures to ensure the minimization of losses and expenses of the Ukrainian economy on the Customs Union and the European Union markets after the signing of the agreement is considered as a main task both for experts and the establishment, he said.
