Ukraine must develop green, recycling possibilities to secure independent profit in future – DG Environment chief

Ukraine must develop green, recycling possibilities to secure independent profit in future – DG Environment chief

Ukrinform
Not all types of Ukrainian industries have a long-term future in the event of the country's accession to the European Union, therefore, the analysis of the country's industrial potential is ongoing to determine future priorities for obtaining stable profits in the future.

This was reported by Director General of European Commission’s DG Environment, Florika Fink-Hoojer, who spoke in an interview with Ukrinform during the Ukraine Green Reconstruction Conference in Vilnius.

"As we have experienced from the previous enlargements involving countries coming from the other side of the Iron Curtain but not coming from war, certain industries most likely will have no long-term future but will also not be able to be phased out immediately. This would be simply impossible. But that's why we are very much looking at these green and recycling possibilities because that could be also a very long-term sustainable way," said Florika Fink-Hoojer.

"The big important issue is how to make sure that Ukraine has an industrial base that gives Ukraine the revenues, jobs, and certain autonomy that you will need not just as being a partner or entering the internal market," the official said.

Competent experts are currently working on choosing the type of industrial base of Ukraine for the future, the director general said.

"And the the question which more competent people than me would look at is what type of industry base has a future? What small and medium size industry should be encouraged and stimulated to do because you need it at all levels. Ultimately, municipalities need that revenue as well. So the industrial potential of Ukraine is what many are now looking at and analyzing," Fink-Hoojer said, adding that such data will provide an incentive for foreign industries and investors to make the right decisions regarding cooperation with Ukraine.

Ukraine should conduct these discussions independently, the official believes, “hopefully, based on the analysis and mapping done by economic institutions or international bodies who would offer the baseline for a decision to be made. And that’s also important in view of in which direction to go and how to use some of the money under the Ukraine Facility."

As reported, from November 28 to December 1, 2023, a Ukraine Green Recovery Conference is being held in Vilnius. It brought together representatives of local communities from Ukraine and Europe who have experience working within the framework of European grant projects, as well as the business circles.

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