STUDY OF THE MAIN CHALLENGES AND OPPORTUNITIES FOR INTERNATIONAL BUSINESS IN UKRAINE AND THE EU MEMBER STATES

Abstract

In the context of the military conflict, the EU member states are one of Ukraine's largest trading partners, and their share in foreign trade is growing every year. Despite the unstable military situation, Ukraine is an economically attractive country with a favorable logistical location, which facilitates its integration into European business and expands the horizons of international business. Cooperation with European countries opens up new opportunities for Ukrainian business, creating prospects for growth and development. Integration into European business is not easy; companies need to fulfill a number of requirements to be able to export their products to the EU, but these challenges also create opportunities. That is why the study of the main challenges and opportunities in doing international business with EU member states is a relevant topic for research and is certainly of interest to the Ministry of Foreign Trade of Ukraine. In this article, the main challenges and opportunities for international business in Ukraine and the EU member states were studied. To begin with, the essence of international business was investigated and the main forms of international cooperation were identified. The next step is a detailed analysis of the volume of international trade between Ukraine and the EU member states. It is shown that the share of EU member states in Ukrainian exports, especially food products, is growing every year. It is determined that in order to strengthen international business in the field of agri-food, it is necessary to adapt Ukrainian production to EU standards, which will not only increase exports but also increase the value of Ukrainian products. We have identified the main challenges that hinder the development of international business and impede its growth, and it is important for the Ukrainian government to understand the main obstacles to strengthening international cooperation with EU member states. In the final part of our study, we propose the Agri-Food Strategy for Deepening International Business between Ukraine and the EU Member States as an opportunity for the growth of Ukrainian international business, which aims to adapt Ukrainian companies and prepare them for cooperation with European ones. It is determined that on the Ukrainian side it will be necessary to inform farmers (in particular small companies) as much as possible in terms of documentary support, and on the part of domestic companies to actively implement European quality standards in their production.