Actual aspects of improving the efficiency of international economic relations between Ukraine and the European Union

Анотація

Introduction. In the context of globalization and deepening European integration, Ukraine’s economic relations with the European Union (EU) are a key factor in the country’s sustainable development. The signing of the Association Agreement and the implementation of the Deep and Comprehensive Free Trade Area (DCFTA) have significantly enhanced trade and investment cooperation. However, challenges such as war-related economic instability, logistical barriers, regulatory adaptation to EU standards, and investment risks continue to hinder effective economic relations. The purpose of this paper is to analyze the current aspects of increasing the efficiency of international economic relations between Ukraine and the EU, identify key barriers, and develop recommendations for their elimination. The research employs a systematic approach, comparative analysis, economic and statistical methods, SWOT analysis, and expert evaluations to provide a comprehensive assessment of the dynamics and trends in Ukraine-EU economic cooperation. Results. The study reveals that the EU remains Ukraine’s largest trading partner, accounting for over 40% of its total trade turnover. While trade liberalization has facilitated exports, structural imbalances persist, with raw materials still dominating exports. Logistical challenges stemming from the war, the need for product certification under EU standards, and technical barriers remain key issues. Investment cooperation with the EU is vital, yet political and economic uncertainty, along with insufficient legal safeguards, restricts foreign direct investment (FDI). The study highlights the importance of risk insurance mechanisms and regulatory improvements to enhance Ukraine’s attractiveness to European investors. Furthermore, the paper explores the growing role of digital transformation in Ukraine’s integration into the EU’s Digital Single Market, emphasizing the potential of IT sector development and participation in programs such as Horizon Europe. Conclusion. To enhance the effectiveness of Ukraine-EU economic relations, several strategic measures are recommended: further trade integration through the elimination of technical barriers, improvement of investment conditions via risk mitigation policies, strengthening of digital cooperation, and the development of transportation infrastructure to optimize logistics. Institutional reforms, particularly in regulatory alignment and anti-corruption efforts, are crucial for achieving long-term success. The study concludes that deepening economic cooperation with the EU will not only stimulate Ukraine’s economic growth but also facilitate its full integration into the European economic space.

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