The Ministry of Digital Transformation of Ukraine presented the study "Ukraine's Integration into the EU Digital Single Market: Potential Economic Benefits". Analytical material was prepared by experts from the Center for International Trade Analysis Trade + at the Kyiv School of Economics and the NGO "Ukrainian Center for European Policy".
The results of the study contain estimates and real calculations of the potential profit for the country's economy from integration into the EU Digital Single Market.
The following main economic benefits were emphasized during the presentation:
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reduction of transaction and trade costs in trade in goods and services between the EU and Ukraine;
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growth of business efficiency, productivity of the economy and GDP of Ukraine;
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increasing the welfare of citizens of Ukraine and the EU: better access and lower prices for digital innovative goods and services, consumer protection;
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development of innovative products and services and digital infrastructure.
According to the study, the gradual approximation of the regulatory environment and digital development of Ukraine to the EU level in the framework of integration into the Digital Single Market will increase exports from Ukraine to the EU by 11.8-17% (2.4-3.4 billion US dollars), services - by 7.6-12.2% (302.5-485.5 million USD). It will also have a positive impact on Ukraine's productivity and economy: Ukraine's GDP growth - by 2.4-12.1% (3.1-15.8 billion US dollars), welfare of citizens - by 3.6-7.8%.
Integration into the digital market
For Ukraine, integration into the EU's Digital Single Market is a tool for deepening economic integration into the EU's internal market, as well as promoting Ukraine's digitalisation in line with European and international standards. Digitization includes, in particular:
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expanding mutual access to online markets and digital services, as well as Ukraine's accession to common rules, standards and procedures with the EU in the digital sphere, including on the execution of electronic contracts,
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making electronic payments and settlements,
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distribution of digital content,
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copyright registration,
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provision of cross-border digital services and consumer protection on the Internet, etc.
The event was supported by the International Foundation "Vidrodzhennia".
Download the study - at the link..
