Ukraine is the elephant in the room in Draghi’s plan (a strong and timely piece, btw). Now that the vision has been outlined and the new European Commission is announced, it's time to acknowledge that Ukraine is indispensable to addressing the EU’s strategic challenges.
What does the EU gain from Ukraine?
1️⃣ Critical raw materials (e.g., lithium, graphite, titanium, manganese). Ukraine should not be seen solely as an exporter of raw materials; these resources should be extracted and processed locally, adding value to Ukraine’s economy and integrating it into the broader EU industrial supply chain.
2️⃣ Energy generation. Ukraine was exporting electricity to the EU and can resume once its energy system is restored. It also offers the largest in Europe underground gas storage.
3️⃣ IT talent and innovation.
4️⃣ Europe’s strongest military and an advanced defense industrial base.
5️⃣ Ukraine offers a large market with strong human capital. While the displacement of millions of Ukrainians due to Russian aggression is tragic for our country, they have already become an economic asset to the EU. Meanwhile, Ukraine itself remains a significant market with immense growth potential.
6️⃣ Ukraine’s recovery could become one of the driving forces for the EU economy and companies.
7️⃣ Most importantly, Ukraine has proven its ability to adapt quickly under pressure. In fact, today Ukraine may be better positioned for dramatic transformations than the EU itself.
Ukraine will make the EU stronger and more competitive. Therefore, fast-tracking Ukraine’s accession, while maintaining a merit-based approach, serves the interests of all Europe.