Five European presidents praise Ukraine and call for a new European vision - The presidents of five European countries have joined together in support of the newly democratic Ukraine and its reform programme. At the opening plenary of the World Economic Forum's Ukraine Roundtable in Kyiv, they called for a new vision of Europe founded on closer ties.
"Ukraine is prepared to ensure its place in the modern world," declared President Victor Yushchenko to more than 250 participants - the vast majority of them business leaders - from 32 countries. He outlined the government's economic and political reform programme to raise the effectiveness of the state and ensure Ukraine "is the most beneficial place for investment".
President Aleksander Kwasniewski of Poland, Mikheil Saakashvili, President of Georgia, Ilham Aliyev, President of Azerbaijan, Arnold Rüütel, President of Estonia, Vladimir Voronin, President of Moldova all spoke in the plenary in support of Ukraine's EU membership bid.
The EU is developing close ties with European states beyond its borders through its "good neighbourhood" policy, assured Joaquín Almunia, Commissioner, Economic and Monetary Affairs, European Commission. The message he will take back to Brussels, he said, is that "we need to build a common vision of Europe among all Europeans".
The president of Georgia echoed calls for greater European solidarity. Ukraine and Georgia are two nations that are "proving that democracy in this part of the world works," Saakashvili said. He drew participants' attention to Belarus whose population also "deserves to be in a free democratic society".
Press release
Business challenges Ukraine to implement sweeping reforms - Corporate leaders cited corruption, a poor regulatory environment, unpredictability of government economic policy and a lack of an independent judiciary rank among the biggest obstacles to doing business in Ukraine, at the Forum's Ukraine Roundtable in Kyiv.
Serhij Terjokhin, Minister of the Economy of Ukraine, highlighted the "STOP Smuggling" campaign and decreased import tariffs as examples of government steps to improve the business environment in Ukraine.
Participants suggested a tough deregulation programme, a crackdown on corruption and political appointments, as well as implementing conflict of interest laws as part of a package of reforms needed to woo investors and jumpstart the Ukrainian economy.
The international business community has high expectations, warned George Logush, Managing Director, Kraft Foods, Ukraine. Change would have to come quickly to capitalize on renewed investor interest, he said.
Ukraine's Competitiveness (PDF; 8 pgs; 127k)
World Economic Forum Ukraine Roundtable to present detailed government reform plan - International and local business leaders have begun a meeting with Ukraine's new political leadership by announcing plans to devise a detailed action plan for political and economic changes that will allow reform to continue in the country. "These reforms are fundamental to attracting Foreign Direct Investment which will fuel Ukraine's growth and the prosperity of its citizens," said Peter Torreele, Managing Director, World Economic Forum.
Oleh Rybachuk, Vice-Prime Minister of Ukraine responded later by welcoming the initiative, saying, "we encourage a frank discussion and we do mean to implement your recommendations".
Senior business leaders at the opening press conference championed Ukraine's potential. Silviu Popovici, General Manager of Coca-Cola Beverages, Ukraine, argued that the country could only fulfil its potential if it is "supported by strong implementation of political and economic reforms".
"Ukraine needs a tax system that provides a stable and fair climate for business; a regulatory system aligned with international standards and a legal system that is developed together with all stakeholders...We think a detailed list of proposals will be a great achievement at the end of these two days," Popovici said.
Press release
Perspectives on Ukraine
"Ukraine has to bring its economic and trade regime into line with WTO disciplines like intellectual property protection, product standards, technical barriers to trade and tariffs."Rufus Yerxa, Deputy Director-General, WTO
"The news from Ukraine has been extremely positive...but the political situation is not great, we need to see some progress on banking reform as well as a raft of fiscal and regulatory improvements, and then there is the privatization issue."Guy Harington, Head of Central and Eastern Europe, Middle East and Africa, Public Sector Group, Citigroup Global Markets, UK
"The people of parliament and the cabinet have signed a memorandum on privatization and the authorities recognize private property."Victor Yushchenko, President of Ukraine
"Today we need solidarity for Belarus and hope that soon we can have a new conference of what we can learn the Belarus democratic experience."Mikheil Saakashvili, President of Georgia
For more information, please contact:
E-mail: ukraineroundtable@weforum.org
Tel.: +41 (0)22 869 1212
Fax: +41 (0)22 786 2744
Tymoshenko seeks to reassure investors - The Prime Minister of Ukraine, Yuliya Tymoshenko, sought to woo investors at a plenary session of the World Economic Forum's Ukraine Roundtable in Kyiv. She detailed a raft of political and economic reforms the government is implementing, and promised to respect private property and the rule of law.
