The Academic Association for Contemporary European Studies

Under the new government elected in late 2004, Ukraine has an opportunity to engage in a series of reforms, including concerning its relations with the EU. Ukraine has experienced a remarkable macroeconomic stabilization and growth resumption in the last few years. Using relative institutional and economic indicators, the remaining deficits are obvious when compared to other countries in the queue for EU membership, but the case of other applicant countries, e.g., Croatia, has shown that institutional reforms can be quite fast, when supported by a clear EU entry perspective. Given the current economic links with the EU, Ukraine’s largest partner, the potential gains for Ukraine from membership are very substantial.