Ukraine Sees the EU as a Model for Social and Economic Development - Ukrainian President

KIEV, Ukraine, December 15, 2010 - The Ukrainian President believes that the European Union model
has to be a long-term objective for Ukraine in developing economy, social
policy, civil society and public institutions. Viktor Yanukovych made this
statement in a meeting with the heads of Ukrainian diplomatic missions abroad
as well as in another meeting that he had with foreign diplomats accredited
in Ukraine.

"We see the European Union as an optimal model of social development,
economy, public institutions, and, in a long run - as our common home," the
Ukrainian President said in his speech.

In fact, despite the political instability that the country has
experienced during the past five years, the European integration was the
country's main priority and remains unchanged today. The relationships with
Russia and the United States have always been a source of controversy in the
Ukrainian society, while the idea of Ukraine as an EU member was always
supported by an absolute majority of the Ukrainian people. Moreover, in 2005
Ukraine unilaterally waived visas for the EU citizens, demonstrating the
country's openness and EU aspirations.

This year Ukraine made progress towards its strategic goal by signing the
Energy Community Agreement and adopting the Action Plan for visa-free travel.
In the current status-quo, the Action Plan looks more like a home task for
Ukraine than a mutually accepted to-do list. Nevertheless, the Ukrainian
President has already pledged to achieve all objectives set out in the
document by the middle of 2011.

Last week the Ukrainian leadership announced a series of vital reforms
aimed at bringing the country's legislation closer to the EU standards. The
adoption of the new Tax Code, the introduction of a new pension system, and
the administrative reform have become the first three steps on the way to the
country's modernization. The pension reform, for instance, will deal with the
problem of the aging population and the increasing pension fund's deficit,
which is also the case for a number of developed EU states.

Though the reforms have only begun, and their implementation willtake
years, they send a strong signal to the EU officials about the country's
strategic goals.

For more information, please contact Maryna Khorunzha, +380509151565, news at wnu-ukraine.com, Project Manager at Worldwide News Ukraine