Ways to increase Ukraine’s export potential in the EU markets

Abstract

The ways to develop and increase Ukraine’s export potential in the markets of the European Union (EU) are analyzed. The EU is Ukraine's main trading partner and destination for the vast majority of its exports. That is why the Government of Ukraine is focusing its efforts on the development and implementation of the best strategies and practices to increase Ukrainian exports to the EU. Despite significant share of exports to the EU, domestic businesses still experience difficulties and constraints accessing European markets. The current liberalization is dominated by the presence of two unfavorable regimes, namely the application of tariff quotas to a significant number of items and high technical barriers for Ukrainian access to the EU industrial market Based on the research of the economic part of the Association Agreement and the Deep and Comprehensive Free Trade Area (DCFTA), the existing structure of Ukraine’s exports to the EU, current access to European markets, existing state mechanisms to support Ukrainian exporters, the process of harmonization of domestic legislation with the requirements and rules of the EU, the following conclusions and recommendations are substantiated: the feasibility of launching and developing state programs to support Ukrainian producers, such as state co-financing of participation in international exhibitions, compensation for abandonment of geographical indications, effective and efficient lending system, targeted taxes and fees; expediency of export orientation on high-tech products with high added value and degree of processing; the importance of effective protection of domestic exporters, strengthening the mechanisms for monitoring the compliance of Ukrainian laws with the requirements of EU legislation taking into account the issue of climate change in the legislative process of Ukraine; simplification of the regulatory mechanism, elimination of long bureaucratic procedures.