"Ukraine will bring to the EU much more than the accession process will cost" - Shmyhal
Kyiv • UNN
Ukraine will bring far more benefits to the EU than the costs of its accession process, making it a worthwhile investment for the bloc.
Ukraine's upcoming accession to the EU will bring more benefits than costs to the union, and EU member states should approve the next formal steps at the end of this week, Prime Minister Denys Shmyhal said in an interview with Euractiv, reports UNN.
Details
Asked whether he feared that Ukraine's application could become a cost-benefit calculation for some reluctant EU member states, Shmyhal said: "Ukraine will bring much more to the EU than the accession process will cost.
Some EU member states argue that the bloc should first reform itself before considering adding new members. In addition, a recent report by the Bruegel think tank, as well as internal EU documents reviewed by Euractiv, estimates the financial cost of Ukraine's accession at €110-136 billion for the EU's seven-year budget, which is about 0.10-0.13% of the bloc's GDP.
"We have seen the reports, but the Ukrainian market, Ukrainian defense forces, Ukrainian raw materials and critical materials and other sectors can bring much more in terms of security and economic benefits," Shmyhal said.
"We can go through a tough negotiation process, but we are ready for compromises based on mutual concessions - but if we look at it as an investment project, it can be much more profitable (for the EU - ed.) than (our - ed.) cost of accession," the prime minister added.
Asked whether he was concerned that some EU member states, such as Hungary, would seek to slow down the accession process, Shmyhal said that the disputed issues could be resolved during the negotiations during the two-year process.
Ukraine's Prime Minister Denys Shmyhal said that EU accession talks could start in the first half of 2024.