Apr 14, 2021

Farmak supports strengthening cooperation with the EU

This was discussed during the Fourth Meeting of the High-Level Dialogue Ukraine-EU on Horizontal Issues and Specific Industrial Sectors

The event was held on March 16 in Kyiv with the participation of representatives of 6 ministries and services of the Cabinet of Ministers of Ukraine, high-ranking officials from the European Commission, as well as representatives of Ukrainian business associations and independent experts.

The opportunities for cooperation and practical cases of specific industries of Ukraine and EU countries in the context of new industrial initiatives of the European Union were discussed as part of the business segment of the Industrial Dialogue organized by the UBTA in partnership with the Ministry of Economic Development, Trade and Agriculture of Ukraine.

In particular, a topical business case of the Ukrainian pharmaceutical industry was presented in order to demonstrate its potential contribution to the diversification of European supply chains of critical medicines in the context of fighting the coronavirus pandemic.

“A key precondition for the implementation of opportunities for cooperation between the Ukrainian and European pharmaceutical sectors is the update of the scope of the future Agreement on Conformity Assessment and Acceptance of Industrial Products (ACAA or so-called industrial visa-free regime agreement) with the EU, primarily, by including the provisions on mutual recognition of GMP inspections of the pharmaceutical sector,” Yevheniia Piddubna, Director of Corporate Communications at Farmak, said.

“The signing of the ACAA will allow machine-building companies, representatives of the chemical and pharmaceutical sectors to increase foreign trade and capture third-country markets with EU companies. The potential of the Association Agreement, namely its trade part, has not been fully disclosed to Ukrainian exporting companies for a number of reasons, including non-tariff barriers that hinder the export opportunities of our country including its industrial sector. We are grateful to the representatives of the Ukrainian and European governments for the opportunity to raise key business issues that were elaborated by the UBTA during the all-Ukrainian survey in late 2020,” Dmytro Los, the UBTA Chairman, said.

In general, Ukrainian exporters welcome the results of the Ukraine-EU Industrial Dialogue organized by the UBTA which is a unique platform for taking into account business proposals on cooperation priorities. They also hope that the Industrial Dialogue results will be considered in the future update of the Association Agreement with the EU.

Farmak is one of the largest exporters of the Ukrainian pharmaceutical industry. The Company’s export share is about 25%. The products manufactured by Farmak are bought in more than 28 countries all over the world.

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