TRADE COOPERATION OF UKRAINE WITH NORTH AFRICAN COUNTRIES

Keywords: international trade, export, import, foreign trade turnover, foreign trade balance

Abstract

Foreign economic activity becomes the main factor of economic development, which is manifested in the growth of international trade, the liberalization of trade relations and the active participation of countries in the processes of international economic integration. The President of Ukraine, Volodymyr Zelenskyi, has declared 2023 to be the year of strengthening work with Africa. Activation of trade with Middle Eastern and African countries is at the top of the tasks of the Chamber and the Ministry of Foreign Affairs for 2023! Ukraine should direct cooperation vectors to the most profitable partners, who have a demand for goods in which our country has a strong potential. Since Ukraine is one of the ten largest global producers of grain and oilseeds and occupies a leading position among exporters of these products. Today and in the future, North African countries are one of the main importers of Ukrainian products, which enables Ukraine as an exporting country to realize its opportunities in increasing exports. At the same time, North Africa is experiencing both economic and social development, which provides grounds for increasing cooperation with this continent. The territorial structure of exports from Ukraine to the countries of North Africa shows that the main products of Ukrainian exports are sent to Egypt, Morocco and Tunisia. Therefore, without a doubt, the development of bilateral and multilateral relations of Ukraine with the countries of North Africa lies in the plane of Ukraine's geo-economic interests. This can be explained by the fact that our state is interested in the development of trade and economic cooperation, based on the significant potential value of the markets of these countries. Under these conditions, systematic studies of the current state, trends, and structural changes of Ukraine's foreign trade are becoming in demand, especially in the context of identifying individual countries. Such studies require objective statistics and methodical support. The purpose of the work is to study the advantages of trade cooperation between Ukraine and the countries of North Africa and to determine the possibilities of using the results in the development of the foundations of Ukraine's trade policy. A comparative analysis of indicators reflecting foreign trade policy and the attitude of countries to improving export support in Ukraine and North African countries was conducted.

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Published
2022-12-27
How to Cite
Fedun, I., Oleinikov, Y., & Stepichieva, O. (2022). TRADE COOPERATION OF UKRAINE WITH NORTH AFRICAN COUNTRIES. Economy and Society, (46). https://doi.org/10.32782/2524-0072/2022-46-23
Section
INTERNATIONAL ECONOMIC RELATIONS