ECONOMIC INTEGRATION OF UKRAINE: CONTEXT OF THE RUSSIAN-UKRAINIAN WAR

Authors

DOI:

https://doi.org/10.35774/jee2023.01.048

Keywords:

European integration, structure of international trade, international trade regulations, international assistance, Russian-Ukrainian war.

Abstract

Integration with the large market of the EU creates additional competitive advantages for Ukraine. The Association Agreement and the Deep and Comprehensive Free Trade Area (DCFTA), the status of the candidate country and international assistance, which aim to approximate Ukraine’s legislation to EU norms, have become the institutional instruments of such integration. Over the recent years, the European Union has become Ukraine’s main trade and investment partner. The basis of Ukrainian exports to the EU is formed mainly by crops and metallurgical products. The main items of Ukraine’s imports are supplies of machine-building equipment and fuels. In terms of grains and oil crops, Ukraine is the main supplier to the EU. Under the conditions of war, the foreign trade with the EU has proven itself to be robust in volume and, in contrast to other vectors of trade, diversified. This was facilitated by the elimination of a number of tariff and non-tariff restrictions on Ukrainian exports to the EU, as well as the realignment of the logistics infrastructure towards the West. The structure of Ukrainian exports to the EU has seen an increase in the role of a range of agricultural products, along with a sharp decline in the role of metals. On the other hand, the EU has become an important supplier of military products and fuels to Ukraine. Along with that, with the question of security unresolved, the insufficient investment attractiveness remains to be a problematic aspect for Ukraine.

JEL: F14, F15, F35, F51.

Author Biographies

Oleksandr SHNYRKOV, Taras Shevchenko National University of Kyiv, Coordinator of Jean Monnet Centre of Excellence, Kyiv, Ukraine

Doctor of Economic Sciences, professor, head of the Department of World Economy and International Economic Relations, Educational and Scientific Institute of International Relations

Oleksii CHUGAIEV, Taras Shevchenko National University of Kyiv, Deputy Administrative Coordinator of Jean Monnet Centre of Excellence, Kyiv, Ukraine

Doctor of Economic Sciences, assistant professor at the Department of World Economy and International Economic Relations, Educational and Scientific Institute of International Relations

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Received: February 10, 2023.

Reviewed: February 18, 2023.

Accepted: February 21, 2023.

Published

11.04.2023

How to Cite

SHNYRKOV, Oleksandr, and Oleksii CHUGAIEV. “ECONOMIC INTEGRATION OF UKRAINE: CONTEXT OF THE RUSSIAN-UKRAINIAN WAR”. Journal of European Economy, vol. 22, no. 1, Apr. 2023, pp. 48-69, doi:10.35774/jee2023.01.048.

Issue

Section

EUROPEAN INTEGRATION