YES: Viktor Yanukovych at the 9th Yalta Annual Meeting: Ukraine Joins Global Competition for Future

President of Ukraine Viktor Yanukovych said in his opening speech at the 9th Annual Meeting of Yalta European Strategy : "The world is in search of new models of economic growth. In this situation the countries such as Ukraine have a chance to follow a new path of development."

According to him, the world faces new challenges, and new waves of the crisis: Eurozone has entered a crucial period; the U.S. growth slows down; volatility of global markets increases.

The economy can no longer take increased consumption credit. The economic model that has worked in the past decades is now losing its effectiveness. "Attempts to renew economic growth within old paradigms do not work. Previous model of development has exhausted its resources. In order to overcome the crisis we must go through a long and difficult path of reform", said the President.

According to the President of Ukraine, with the changing architecture of the global economy, the countries which at the times of the crisis have opted for radical but constructive reforms will have a historic opportunity.

These are the countries that have joined the race for leadership. These are the countries that are closely watched by investors looking for long-term capital investments with an eye to the future. Not so long ago, the club of the world leaders was limited to the "big eight". But today it has increased to "Big Twenty" and that, in the opinion of the Ukrainian president, is not the limit.

"Ukraine has the intention and a real chance to join the competition for future", said Viktor Yanukovych. According to him, "Ukrainian response to the global crisis is an accelerated modernization. We managed to get out of the spiral of the crisis and to reverse the decline. To sit and wait till the crisis is over will not work. Ukrainian reforms objective is clear: to become one of the leading countries in the post-crisis world ", said Viktor Yanukovych.

Among the key reforms the President mentioned liberation of entrepreneurial initiative, radical approaches to attract investment and improve investment climate, and judicial reform. It is also extremely important, said the President, to actively seek the ways for trade and economy integrations, associations and alliances with all countries.

Adapted from