Zelenskyy signs law on Ukraine's participation in European Defence Fund
Ukrainian President Volodymyr Zelenskyy has signed a law ratifying an agreement between Ukraine and the EU on Ukraine's participation in the European Defence Fund, opening the door for Ukrainian companies to join joint defence industry projects.
Ukrainian President Volodymyr Zelenskyy has signed a law ratifying the agreement between Ukraine and the European Union on Ukraine's participation in the European Defence Fund. The move was reported by European Pravda, citing the website of the Verkhovna Rada, Ukraine's parliament.
What the agreement covers
Participation in the Fund is expected to deepen defence-industrial cooperation between Ukraine and the EU. Ukrainian companies will be able to join joint projects focused on the research, development and production of defence products and technologies. The arrangement is also meant to expand the innovative and manufacturing capabilities of Ukraine's defence industry.
The European Defence Fund is an EU instrument that supports joint defence research and development and strengthens Europe's defence technological and industrial base.
Background
On 16 September, the European Parliament voted in favour of new rules that, among other things, allow the European Defence Fund to finance the costs of testing defence technologies in Ukraine. These changes are part of the so-called Omnibus V package, which aims to simplify and speed up procedures in the security and defence sector. The package also provides for shorter approval times for defence projects and simplified procedures for intra-EU transfers and procurement of defence products.
Following those changes, the Verkhovna Rada ratified the agreement with the EU on Ukraine's participation in the European Defence Fund, which President Zelenskyy has now signed into law.
