Ukraine can become key to solving EU’s economic challenges - Vice PM

Ukraine is able to provide significant added value to the economy of the European Union and help it solve the key challenges laid down in the report drawn by the former President of the European Central Bank and former Prime Minister of Italy, Mario Draghi.

This was stated by the First Deputy Prime Minister, Minister of Economy of Ukraine, Yuliia Svyrydenko, wjp spoke at the Kyiv International Economic Forum on Thursday, an Ukrinform correspondent reports.

"I actually saw Ukraine in every challenge described by Draghi and saw where we can be useful," Svyrydenko said.

Read also: Ukraine to make EU geopolitically stronger - Mathernová

According to the deputy prime minister, Ukraine can provide the EU with critical materials, including titanium, lithium, uranium, and coal. Also, the country is capable of strengthening the EU defense capability thanks to the experience of applying hi end technology in live combat. In addition, Ukraine has the potential to become Europe’s energy hub and offer solutions in the field of green metallurgy.

"We have 300,000 specialists in Ukraine, we have a boom of startups, which we as a state are trying to support. Therefore, I believe this is our added value," Svyrydenko emphasized.

Commenting on the fears of European farmers regarding competition from the Ukrainian agricultural sector, the official offered to analyze the reasons for the high efficiency of Ukrainian producers.

"If European farmers really believe that we pose a threat, maybe we should reconsider the architecture of subsidies in the European Union if Ukrainians with a smaller amount of subsidies from the state are more competitive," she said.

As Ukrinform reported earlier, in September 2024, former President of the European Central Bank and former Prime Minister of Italy Mario Draghi presented a 328-page report on the future competitiveness of the EU. The report highlights the need for an unprecedented level of investment to overcome the EU's low productivity and weak economic growth compared to the US and China.