METHODOLOGICAL PRINCIPLES OF FOREIGN ECONOMIC RELATIONS OF UKRAINE AND THE EU: ASPECTS OF FOREIGN TRADE

Abstract

The article defines the priority for the economy of Ukraine to expand the spheres of foreign economic relations with the EU countries, which will be based on the mechanisms of foreign trade. A number of economic prerequisites and advantages of expanding foreign economic ties between Ukraine and the EU, which determine trends in foreign trade, are emphasized. The foreign economic relations of Ukraine and the EU are of crucial importance in building a highly developed Ukrainian economy and allow European countries to form a constant supply of many critical goods of high quality and lower prices compared to other countries. Ukraine is characterized by a high foreign trade potential, and for its better use, it is necessary to change approaches to state policy, which will stimulate business, state institutions, and society to develop competitive potential and strengthen partnership ties with European countries. It is through the mechanism of foreign trade that it is possible to strengthen the European integration of our country and obtain new opportunities and resources in building a progressive economy according to the norms of highly developed countries. It is worth noting the already significant results in the development of foreign economic relations between Ukraine and the EU, but in order to ensure higher rates of socio-economic growth, such relations must be deepened and expanded. The important role of the continuation of institutional and structural reforms in our country, which should be intensified and aimed at strengthening the competitive potential of the national economy, has been established. The main stages of the integration of foreign economic relations of Ukraine and the EU are highlighted. The high potential of European integration for the economy of Ukraine has been proved, and in the current conditions, this direction of the development of the national economy is considered the main one, which will ensure post-war recovery and a constant rate of socio-economic growth.