Regional Trade Agreements of Ukraine: Realities and Prospects

Abstract

The conclusion of regional trade agreements has increased to hundreds. The benefits of integration, fears of protectionism on the part of uniting countries, and other factors contribute to this process. Ukraine has signed agreements with more than 40 countries, including integration groups. Therefore, the purpose of this study is to identify the specific features of its agreements, prospects for their development and signing new ones. It is worth analysing the conclusion of agreements in the historical aspect, based on the level of their economic development, foreign trade, the trade complementarity level, and identifying development opportunities. Therefore, general scientific and special methods were used in this study, in particular historical, analysis and synthesis, economic analysis, tabular, etc. The study examined research performed by other scientists; statistical data from the Centre for international trade, the Food and Agriculture Organisation of the United Nations (FAO); international treaties and regulatory documents. According to the analysis of concluding agreements, it is proposed to divide them into two periods: before and after 2000. In the first case, they were concluded mainly with developing and neighbouring countries, and in the second – with developed countries outside the former Soviet Union. At first, the partners were mainly the CIS countries, then Europe, and later other regions, but there were also disintegration processes with the Baltic states. It is established that transactions have their specific features regarding the provision of a favourable regime, e-commerce, etc. It is proposed to divide integration risks into predictable and unpredictable ones. The main importers of all and agri-food products were identified among the countries with which agreements have been concluded. Exports to such countries are mainly growing, as well as the share of agri-food products. The trade balance and low share in Ukraine's exports indicate the feasibility of developing trade. The calculation of the complementarity index allows predicting the prospects for the development of relations with countries with which agreements are planned and already concluded, as well as with the main importers of the world market. The results of the study indicate prospects for the development of trade, but this will depend on the content of transactions, product competitiveness, etc.