Burisma Group Commits to Atlantic Council’s Principles for Economic Policy and Judicial reform in Ukraine

20 September 2019

The International Energy Group Burisma along with other top Ukrainian business leaders has committed itself to 15 key principles of rule of law and economic policy in Ukraine developed by the Atlantic Council of the United States, the leading U.S. think tank in the field of international affairs.

The Director of the Atlantic Council’s Eurasia Center Ambassador John Herbst and the Atlantic Council’s Senior Fellow Dr. Anders Aslund presented the principles at a press briefing in Kyiv, Ukraine, in the presence of 14 key Ukrainian businesses and taxpayers, including Burisma Group, OJSC Concern Galnaftogaz, «Industrial Group», APK-INVEST, Industrial Union of Donbass, Epicentr K, The Mironivsky Hliboproduct, Nibulon, SKM, Smart Holding, TIC, TAS Group, UkrLandFarming, UFuture. Burisma Group’s Board member Karina Zlochevska signed the document on behalf of the Group. The fifteen principles reflect a broad reform consensus in Ukraine, aiming at creating well-functioning markets and strong private property rights.

“We agreed on uniform rules for doing business that serve as a roadmap of what needs to be changed and what must be followed to prevent past years’ practices from reccuring. These 15 principles allow the Ukrainian business leaders to no longer have the need to go into politics to protect their legitimate rights. We suggested to execute this declaration, as well as further expand both the idea and the circle of businessmen supporting it,” said Dr. Anders Aslund. – I believe that now in Ukraine there is a unique economic consensus. Therefore, we have a unique chance to reduce corruption, protect property rights and facilitate business processes”.

Most of the declaration deals with standard market economic reforms. The focus lies on structural reforms, such as the unification and marketization of energy prices, the abolition of unregulated monopolies, the elimination of obsolete regulations and inspections, the independence of the National Bank, and transparent and competitive public procurement and sales.

“Economic security is a prerequisite for economic growth and attraction of foreign investments. Today, Ukraine is undergoing a global transformation that requires existing regulatory standards, inspections and inspection bodies to be abolished. The Atlantic Council’s declaration is a concrete and effective initiative. If the state supports and implements these principles sometime soon, business in Ukraine will work more effectively”, – said Karina Zlochevska.

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