Aivaras Abromavicius: Ukraine Will Not Be a Burden for EU Countries
07. 11. 24
Chairman of the Supervisory Board of Agro-Region Group, Aivaras Abromavicius, participated in the “RBI CEE Night” event in Brussels, dedicated to the 20th anniversary of the European Union’s expansion and the potential accession of the next group of countries.
He took part in a panel discussion that focused on the key challenges Ukraine must overcome on its path to EU membership. Other panelists included Austria’s Chancellor from 2000 to 2007, Wolfgang Schüssel, and Raiffeisen Bank International Board Member, Valerie Brunner.
During the event, Aivaras Abromavicius shared the following insights on Ukraine’s EU membership prospects:
1. In December 2023, the European Council decided to start negotiations on Ukraine’s accession to the European Union, and on June 25, 2024, the official start of negotiations was announced. Currently, there is an ongoing review of Ukraine’s legislative alignment with EU standards, set to continue until the end of 2025, with the first report expected early in the year. Despite the war, progress in passing the necessary legislation meets the expectations of both Ukraine and the EU. Ukraine aims for EU membership by 2030, an ambitious but achievable goal.
2. Research among European Business Association members in Ukraine indicates that 95% of respondents are fully or partially prepared for accession. Generally, businesses view Ukraine’s EU membership positively, with only 8% expecting adverse impacts on their operations. Thus, while businesses are ready, they tend to be more conservative about timing compared to politicians.
3. Reflecting on the success of Lithuania and Estonia, which joined the EU in 2004 and where I lived for a long time, the question arises: Can Ukraine replicate their success? The answer is simple: why not? Lithuania has shown the fastest average GDP growth per capita in the EU over the last 30 years and the fastest growth in net incomes. Estonia is renowned for its technological advancements and e-services. As Ukraine aligns its legislation with the EU and with its significant technological potential and untapped rare mineral reserves, it can embark on a path of stable economic growth.
4. Of course, this requires a just peace, which Presidents Trump and Zelensky discussed during their press conference following their face-to-face meeting in New York in September. Until peace is achieved, Ukraine needs ongoing and substantial support from Western partners, for which it is endlessly grateful. All other issues—staff shortages, power supply disruptions, lack of direct foreign private investments—are directly tied to achieving peace.
5. In summary, Ukraine’s path to the EU is a geopolitical choice and a commitment to freedom and democracy. Ukraine will not be a burden for EU countries; rather, it will be a contributor in defense, food security, and digitalization sectors.
