The European Business Association (EBA) has noted the disappointment of Ukraine's business circles at the government's decision to suspend its preparations for the signing of the Association Agreement with the EU and stated it would continue supporting businesses and the country's power structures in improving the investment environment.
“This decision inevitably strengthened the political risk of investing in Ukraine, raised the level of expectations from the side of investors as payment for such a risk and thus made the negative aspects of doing business in the country even more pronounced,” reads an official statement from the EBA.
The association stressed that the government’s decision was a surprise to businesses after repeated statements by senior officials about the strategic selection of European integration, affecting the level of predictability and confidence in the Ukrainian business community.
“We are convinced that the Association Agreement is precisely the document that would help achieve the main goal of our organization – the introduction of the rule of law, the protection of property rights and the improvement of the investment climate in general. That’s why the business community is disappointed at the decision of the Ukrainian government to change the tactical approach to this long-awaited agreement,” the association said.
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Editor’s Note: Join top government officials, leading industry CEOs, business owners and other experts to discuss Ukraine’s future after the Vilnius Summit at this year’s Kyiv Post Tiger Conference, which will be held on Dec 3 in Premier Palace Hotel. The guests and speakers will assess the effects on Ukrainian political and economic life of not signing an association agreement with the European Union at the Eastern Partnership Summit in Vilnius, Lithuania, on Nov. 28-29. Register now
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