President Petro Poroshenko signed the Law "On Currency and Currency Transactions" during the meeting with representatives of business associations and business communities. The Head of State reminded that since the last meeting with the business, several significant events for Ukraine had taken place. In particular, the first meeting of the Investment Council was held, which gathered the leaders of major world companies and adopted a number of important decisions on increasing the volume of investment in Ukraine. "It was extremely important to hear that from objective investors who have absolutely clear and solid plans for investing in Ukraine," Petro Poroshenko said.
The President especially emphasized the importance of adopting a new currency law, which was discussed for a long time, including at a meeting with business representatives. “I would like to congratulate you on this key act of economic freedom and emphasize its importance,” the Head of State said. He added that this document could be compared with ratification of the Association Agreement and introduction of the visa-free regime.
"If the Association Agreement and DCFTA ensure the free movement of goods and services, the visa-free regime is free communication between people when Ukrainians can travel to Europe, it is very important that the free movement of capital will be ensured by this Law," he added.
Petro Poroshenko also recalled that the adoption of this Law was complicated in the Verkhovna Rada and thanked the people's deputies for their support and approving the decision, despite the attempts to put pressure and disrupt the approval.
"This is the fruit of our joint efforts. This is the proof of the effectiveness of our joint, coordinated work, no matter who opposed us in the Verkhovna Rada and beyond, no matter who tried to blackmail, organize something that would impede the effective functioning of the Law "On Currency and Currency Operations". We did it with you. I am sure that this day will go down in history as one of the freedoms of Ukraine. I congratulate you on this, this is our victory," the President stressed.
According to Petro Poroshenko, the implementation of the said Law will eventually answer a number of important issues. "Beginning with the withdrawal and payment of dividends, ending with the opening of accounts. Starting from effective protection at the legislative level of the currency position, ending with the principle: all that is not forbidden is allowed," the President noted.
The main purpose of the Law of Ukraine "On Currency and Currency Operations" adopted by the Parliament on June 21 this year is the introduction of complete liberalization in the foreign exchange market of Ukraine, free movement of capital and other currency values, legal provision of a single state policy in the field of foreign exchange operations in our country.
The proposed model of currency regulation meets the international practice, in particular the requirements of the EU Directive 88/361/EEC on free movement of capital and the Association Agreement between Ukraine and the EU.
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