The Government announced its decision to sign an agreement with the European Union on Ukraine’s participation in the EU program for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) (2014-2020).
COSME is a leading EU program with a budget of 2.3 billion Euros, aimed at creating favorable conditions for development of small and medium enterprises (SMEs) and is implemented in the strategy framework of “Europe 2020”.
According to the announcement made by the Cabinet of Ministers of Ukraine, “the accession of Ukraine to the program will contribute to the development of Ukrainian business environment, analytical and advisory services related to export-import activities of the enterprises. It will also expand trade and economic relations, as well as harmonize Ukrainian legislation in the sphere of small and medium-sized enterprises to the European standards and improve conditions and the overall culture of doing business”.
The program envisages Ukraine’s participation in the following components: improving the access of SMEs to markets; improving the regulatory conditions for the functioning of SMEs; forming a better culture of doing business.