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EU4Business facilitates discussion of self-regulation in Ukraine’s business sphere

November 8, 2017

A round table discussion held in the Ukrainian capital of Kyiv last week focused on self-regulation as a form of management and self-control of businesses and a tool for consumer protection.

According to EU4Business, Ukraine’s legislation allows the creation of self-regulatory organisations (SROs) in 15 activity areas. However, only 20 SROs were created in just five areas: appraisal, land valuation, land management, architectural activities and professional activities in the securities market.

Dozens of associations that act as self-regulatory bodies cannot obtain official status, as they are not covered by the law, according to an EU4Business press release. This and other issues were raised by the participants of the round table seminar in Kyiv.

The event, organised by the EU4Business ‘FORBIZ’ project, was attended by representatives of the country’s Ministry of Economic Development and Trade, the Chamber of Commerce and Industry, the Professional Association of Capital Markets and Derivatives, the Agrarian Union and the Phytosanitary Association. Representatives of the business community, expert circles and the public also attended.

Funded by the European Union under the EU4Business initiative, the FORBIZ project supports Ukraine’s reform agenda and economic recovery by proposing a systematic, smart change to a more business-friendly environment, with a particular focus on SMEs. The project seeks to steer a shift in policy towards greater recognition of SMEs and the vital role they play in economic recovery, while addressing the challenge of reducing regulatory burden and lessening risk for businesses.

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Press release



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