OREANDA-NEWS. July 20, 2010. Brussels hosted the Round Table of the EU-Ukraine Business Council "EU?Ukraine Negotiations on the DCFTA: What is at Stake for Business and Industry?" supported by the representative office of the EU in Ukraine. SCM became a partner of the event.

Politicians, business and industry players represented Ukraine at the Round Table dedicated to negotiations on creating a deep and comprehensive free trade area between Ukraine and the European Union. Among them were First Deputy Head of President Administration Irina Akimova, Deputy Minister of Economy of Ukraine Valeriy Piatnytsky, Vice President of Ukrainian Chamber of Commerce and Industry Viktor Yanovsky, International Affairs Advisor of TNK?BP Ukraine Nicholas Tymoschuk, etc. Ukrainian businessmen shared their view on challenges and benefits of the creation of a free trade area with the European Commission.

The European delegates represented by Deputy Head of Unit (DG Trade) Philippe Cuisson, Director for International Relations (Eurochambres) Dirk Vantyghem and others believe that the recommendations and demands of the Ukrainian business will prove useful for talks with the Ukrainian government regarding creation of the free trade area.

Negotiating teams hope that the Round Table will help achieve practical results in the talks regarding creation of the deep and comprehensive free trade area between Ukraine and the EU: to reform the economy, stimulate trade, attact investment to Ukraine, ensure free transfer of services and capital as well as streamline legalization procedures for migrant workers.

SCM was represented at the Summit by Jock Mendoza-Wilson, Director of International and Investor Relations. He reported on SCM Group recommendations to the agreement on the creation of the free trade area. 

"SCM supports the DCFTA between Ukraine and the EU as a tool to stimulate and direct domestic Ukrainian reforms, in particular in respect of standardization and regulatory reform. This regulatory reform will help Ukrainian business to be able to cope with competition, to diversify product ranges and extend export markets - not only EU’s but also to the other countries", commented Mr Mendoza-Wilson.