Ukraine has signed an agreement with the European Union on participation in the EU Single Market Programme

Ukraine has signed an agreement with the European Union on participation in the EU Single Market Programme. Read about the programme and its benefits for Ukraine

The Single Market Programme (SMP) is the EU funding programme to help the single market reach its full potential and ensure Europe’s recovery from the COVID-19 pandemic. It aims at:

facilitating access to markets;

promoting the creation of a favorable business environment;

promoting business development and growth;

ensuring the competitiveness and sustainability of companies and entire sectors of the economy;

providing greater consumer protection;

maintaining a high level of food safety.

Among other things, participation in the European Enterprise Network (EEN), Erasmus for Young Entrepreneurs (EYE), and joint cluster initiatives is envisaged.

Ukraine’s accession to this programme will strengthen cooperation with the EU, which is especially important in view of the European integration processes and Ukraine’s EU candidate status. Participation in the programme will additionally support Ukrainian entrepreneurs and help strengthen the Ukrainian economy.

The budget of the Single Market programme for 2021-2027 is EUR 4.2 billion. These funds will be used for:

Strengthening the competitiveness and sustainability of small and medium-sized enterprises (24% of the total budget of the Programme, approximately EUR 1 billion, which will give the possibility of providing various forms of business support)

creation and dissemination of high quality European statistics (13% of the total budget of the Programme, approximately EUR 546 million, which will allow Ukraine to participate in an extended partnership aimed at developing new European statistics using multiple data sources, advanced data analysis methods, smart systems and digital technologies)

1 billion euros from the budget is planned to be allocated to finance the COSME programme, which specializes, in particular, in providing access to European financing for entrepreneurs.

More information about the program is available on the official website: https://commission.europa.eu/.../single.../overview_en

The Accession Agreement was signed during a meeting between the Ukrainian government and the European Commission on February 2. The meeting also resulted in the signing of a Memorandum on Strategic Partnership in the field of renewable gases. By doing so, Ukraine and the EU have also launched a strategic partnership in the field of renewable gases, which will contribute to building a sustainable and innovative energy system in Ukraine.