This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Landmark Reforms In Ukraine Signal Closer Alignment With EU

KIEV, Ukraine, February 15, 2013 /PRNewswire/ --

Improved data protection measures, a more business-friendly tax regime, and a powerful new law to combat discrimination are among a raft of reforms which, says the Ukrainian Government, show it is "matching words with actions" in its drive towards European integration.

2013 has already proven to be a busy year for the Government. This week, the cabinet adopted a bill aimed at bringing the protection of personal data into line with Council of Europe guidelines.

"The bill will establish a body that will monitor the observance of legislation in the field of personal data protection," a Government spokesman said.

The Government has also approved a draft law, which boosts Ukraine's existing measures against discrimination. This area too will now get an independent ombudsman to monitor progress and guarantee compliance.

And President Viktor Yanukovych has personally instructed Prime Minister Mykola Azarov to work with businesses to streamline tax collection in Ukraine.

"The instruction is aimed at improving the investment climate in Ukraine and establishing a constant constructive dialog between government institutions and business representatives," the spokesman said.

Common to all these reforms is a resolve to reform the Ukrainian Government and the economy in line with European standards. It's a timely reminder of the country's commitment to completing the Association Agreement (AA) with the EU, which it hopes to sign in November. The AA is the first step towards full EU membership.

"This is about matching words with action," a Foreign Ministry spokesman said.

"In recent years we have overhauled our tax code, made Ukraine a better destination for investors and, as these latest measures show, we are making it a fairer place for all citizens.

"It doesn't help that we have a US$7 billion bill from Russia for gas we haven't used. That's a legacy of the poor business dealings of the previous Government, but something we just have to live with," the Foreign Ministry spokesman said.

On February 25, Yanukovych will attend the EU-Ukraine Summit in Brussels, which will also focus on Ukraine's advancement to the Association Agreement. He is expected to be questioned on the issue of former Prime Minister Yulia Tymoshenko, but he also wants the EU to hear about Ukraine's on-going reform agenda.

This is set to include further law reform, the reform of the Police and the establishment of a Deep and Comprehensive Free Trade Area with the EU.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs