Ukraine will strengthen EU's competitiveness – Lithuanian finance minister

Lithuanian Finance Minister Kristupas Vaitiekunas said this in an interview with Ukrinform.

"It's only from an economic standpoint, of course, that you can see the threat because Ukraine has very competitive agricultural products and competitive prices. So this would create more competition for local farmers and manufacturers, but it's only one perspective," Vaitiekunas said.

At the same time, he stressed that Ukraine’s accession to the EU would be beneficial for European citizens.

"Still, there is a perspective of users. And from that perspective, bigger competition means lower prices and better quality. So, I think that along with threats there are also opportunities, and it depends from which perspective you see the issue. Even if some manufacturers are exposed to risk, all users are gaining some advantages. So, it's a double-edged issue," Vaitiekunas said.

According to him, Ukraine's membership in the EU would bring "more dynamics to some economy sectors."

Commenting on the existing safeguard measures for European farmers under the current trade agreement with Ukraine, the minister recalled that they would apply during a transitional period.

As for the concerns expressed by some of Ukraine's neighbors, particularly Poland, about the insufficiency of such safeguards, he noted that it is difficult to assess their adequacy unequivocally.

"Poland is an important country and its voice will be heard across Europe. But if you want to make Europe competitive, sometimes you have not to run away from competition," the minister said.

Vaitiekunas also said that boosting Europe's competitiveness is currently one of the EU's priorities.

"Maybe the concept doesn't talk about agriculture in particular, but it's about all economic sectors" he added.

Ukrinform photos can be purchased here