Welcome to the U.S.-Ukraine Business Council


Natalia Bukvych in Washington, Ukrinform
Kyiv, Ukraine, Thu, Oct 15, 2009

WASHINGTON - Ukraine has great potential and its strategic importance is understood not only by the American government, but by leaders of other countries as well. Former US Ambassador to Ukraine, William Taylor, emphasized this during the First Annual International Forum on the Economic Development of Ukraine taking place in Washington, reports UKRINFORM’s correspondent.

These are extremely difficult times for Ukraine due to the crisis, and the international factors that caused it were also reinforced by internal factors, noted Taylor. Among the main problems he noted the lack of a joint strategy among the Ukrainian leadership on how to recover from the crisis and appropriate coordination on monetary and fiscal policy. “Ukraine is strong when it’s united and very weak when it’s divided. This truth has been proven numerous times over the past years,” said the diplomat.
In his opinion, Ukraine’s recovery from the crisis is being hampered by the lack of trust in the National Bank and the currency market. He stressed that the Ukrainian leadership needs to focus on creating favorable conditions for foreign investment by reforming the legal system. “This needs to be done regardless of who wins the elections and who’s in the new government,” he emphasized.
Taylor is convinced that after the elections Ukraine will have a new opportunity to overcome factors caused by domestic political processes. “Ukrainian politicians are not split in their strategic view of the country’s development. They are clearly focused on Europe. The issue is only how to realize this strategy,” he noted.
Taylor noted that Washington “always understood and understands now” Ukraine’s special importance. “It’s not only because of its 46 million population or its neighbors, but because stability and security in Europe to great extent depends on Kyiv’s success.”

Taylor assured that the new White House administration will continue to support the Ukrainian government in its plans to implement systematic reforms. “The crisis can be seen as a deciding moment to analyze mistakes and understand where Ukraine is, where it should be, and how to get there,” he concluded.

LINK: http://www.ukrinform.ua/ukr/order/?id=842976