On February 22, the Verkhovna Rada of Ukraine ratified with
226 votes the Agreement between the Government of Ukraine and the European
Union on the participation of Ukraine in the EU programme "Competitiveness
of Enterprises and Small and Medium-sized Enterprises (COSME)”.
In May 2016, due to the efforts of the Ministry of Economic
Development and Trade, Ukraine has officially joined the COSME programme.
COSME (2014-2020) is the EU programme aimed at strengthening
the competitiveness and sustainability of small and medium enterprises, with a
total budget which amounts to 2.3 billion euros.
The Programme for the Competitiveness of Enterprises and Small
and Medium-sized Enterprises (SMEs) - COSME is the European Union’s programme
to strengthen the competitiveness and sustainability of enterprises, to
encourage an entrepreneurial culture and to promote the creation and growth of
SMEs with the overall budget of EUR 2.3 billion for the seven year period 2014
The objectives of the programme include improving access to
finance for SMEs in the form of equity and debt; improving access to markets,
particularly inside the EU but also at a global level; improving framework
conditions for the competitiveness and sustainability of enterprises,
particularly SMEs, including in the tourism sector; promoting entrepreneurship
and entrepreneurial culture for the companies operating in countries not being
the EU members.
Implementation of projects under COSME will also contribute
to promoting new opportunities in the framework of a deep and comprehensive
free trade area, for both Ukrainian and European companies.
Ukraine has became the eighth
country outside the EU to join the COSME programme. Also among the countries participating
in the programme are Montenegro, Macedonia, Moldova, Turkey, Albania, Serbia
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