An Analysis of Ukraine’s Foreign Trade Relations with Asian Countries

Abstract

The aim of the article is to analyze Ukraine’s foreign trade relations with Asian countries and identify the main trends, challenges and prospects for their cooperation. The article considers the main features of the Asian region in the economic sphere and finds that it is characterized by a high concentration of resource potential, dynamic economic development, active trade and regional economic cooperation. The general dynamics of Ukraine’s foreign trade with Asian countries during 2013–2022 is presented, as well as its distribution by region in 2022. A detailed analysis of Ukraine’s export-import operations in the context of individual Asian countries is carried out. The key trading partners of Ukraine in the region, which include Turkey, China and India, have been identified. The main documents regulating Ukraine’s foreign economic activity with these countries are considered, such as the Free Trade Agreement between Ukraine and Turkey (ratification postponed), Agreement between the Government of Ukraine and the Government of the People’s Republic of China on Trade and Economic Cooperation and a similar Agreement between the Government of Ukraine and the Government of the Republic of India. The main features and key trends that determine the dynamics of the development of trade relations with these countries are analyzed in detail. Their commodity structure of foreign trade with Ukraine has been analyzed and it has been found that the basis of Ukrainian exports to the Asian region is agricultural products, namely: vegetable oils and fats, wheat, corn and animal feed. Other promising trading partners of Ukraine, namely, Japan and South Korea, are also allocated. It is proved that for the balanced development of foreign trade relations with other countries and ensuring the sustainability of the economy in the context of global competition, Ukraine needs to maintain flexibility and adapt to new geopolitical and economic conditions, diversify the commodity structure of exports, as well as conclude new trade agreements.

Keywords

• foreign trade relations
• ukraine
• asian countries
• export and import operations
• trade turnover
• trade partners
• commodity structure of trade