EDSD

VECTORS OF FOREIGN TRADE COOPERATION OF UKRAINE WITH COUNTRIES OF ASIAN REGION

DOI: 10.24263/EDSD-2023-5-14

Vitalii Venger1*, Natalia Romanovska1, Tetiana Romanovska2, Ivan Savhenko3

1 State Organization “Institute for Economics and Forecasting of NAS of Ukraine”, Kyiv, Ukraine

2National University of Food Technologies, Kyiv, Ukraine

3National University of Life and Environmental Sciences of Ukraine, Kyiv, Ukraine

*Corresponding author: vengerv@ukr.net

Abstract. At the current stage of development, one of the most promising foreign trade partners for Ukraine are the countries of Asian region, especially China, Japan and India. These countries attract interest due to their unprecedentedly high growth rates and unconventional development path. Development of a long-term program of cooperation between Ukraine and countries of Asian region with determination of priorities and specific measures will contribute to balancing foreign trade cooperation of countries and significantly increasing volume of trade in industrial goods.

The following conclusions were drawn: due to existing structure of industrial production, military operations taking place on the territory of our country, and other economic factors, Ukraine will continue to export to China raw materials with low added value in near future, while imports will be dominated by goods with high added value. Development of foreign economic cooperation between Ukraine and India in medium term will not have significant changes, which indicates the preservation of existing foreign trade structure. Also, today it is quite difficult for Ukraine to offer Japan products of domestic industry with high added value. At the same time, our country can be integrated into some production chains of Japanese industry thanks to cheap labor, territorial proximity to huge EU sales market, etc. However, in order for this process to be complete and irreversible, a necessary and mandatory condition is primarily the victory of Ukraine in the war with russia, the implementation of relevant reforms, to create comfortable conditions for potential investors in the post-war period.

CITE:

Venger, V., Romanovska, N., Romanovska, T., & Savhenko, I. (2023). Vectors of foreign trade cooperation of Ukraine with countries of Asian region. Selected Papers of V International Conference on European Dimensions of Sustainable Development, June 1-2, 2023. National University of Food Technologies, Kyiv, 121-131. https://doi.org/10.24263/EDSD-2023-5-14

DOI: 10.24263/EDSD-2023-5-14