Feature story

EBRD President says stronger Ukraine will forge new relationship with EU

EBRD President Jean Lemierre said on Friday that a stronger Ukraine, bolstered by further reforms, would determine its own independent future and so secure a new relationship with the European Union.

Speaking to some 400 students at Kiev's Shevchenko University ahead of the Bank's Annual Meeting on 18-19 May, Mr Lemierre said Ukraine was doing exceptionally well. It had built a multiparty democracy and there was strong economic growth.

In a wide-ranging debate with the students, the President was asked specifically about what many in Ukraine perceive to be a rebuff by the West in its drive to develop closer ties, most recently at the 2-4 April NATO summit in Bucharest.

Mr Lemierre rejected the notion that Europe was ignoring Ukraine. "Europe does pay attention to and support Ukraine," he said. But this was a long process. It was important to create the relationship with Europe "step by step". In this context Ukraine had taken a very important step in its accession to the World Trade Organisation. Making a success of WTO membership would open up the country to new opportunities.

Mr Lemierre said it was crucial that Ukraine build its own way in the future and develop is own unique way of cooperating with its partners. "It is important that Ukraine becomes stronger and more competitive. Then perceptions will change," he said. It was crucial for Ukraine to focus on its reform process, he said.

Despite his praise for Ukraine's economic and political reforms, the President did warn of potential challenges. These included Ukraine's 30 per cent inflation rate which could not be allowed to continue. On the political side he said it was important to achieve agreement on key constitutional issues.

By Anthony Williams, Head of Media Relations
16 May 2008