13:04 05.11.2013

Yanukovych: Signing of Association Agreement with EU to attract new investments in Ukraine

2 min read
Yanukovych: Signing of Association Agreement with EU to attract new investments in Ukraine

Ukrainian President Viktor Yanukovych has said that the signing of the Association Agreement with the European Union will attract new investment projects to Ukraine, including ones in the energy sector.

"I believe that the formation of a deep and comprehensive free trade area with the European Union will create a strong impetus to investment dynamics," Yanukovych said opening a meeting of the council of national and foreign investors in Kyiv on Tuesday.

At the same time, Ukraine's integration into the EU economic space will require the further harmonization of the fiscal systems, the president said.

"We will create a taxation area in Ukraine that will have rules that are convenient and easy to understand for European investors," he said.

Yanukovych also said that almost 80% of the total foreign investment in Ukraine came from the EU.

"International financial and banking institutions, which are also represented in the council of investors, play a large role in these investment activities," the president said, noting the cooperation between Ukraine and the European Bank for Reconstruction and Development.

"We're working to improve the conditions for the implementation of energy projects in the country and we expect that after the signing of the Association Agreement with the EU, the investment attractiveness of Ukraine's energy sector will increase," the president said.

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