Ukraine-European Union Economic And Trade Relations And The Countermeasures For Ukraine’s Accession To The EU

Since Ukraine had declared independence in August1991, Ukraine constantlydeveloped trade and economic cooperation with the European Union. The EuropeanUnion membership and European integration are one of the most important diplomaticstrategies for Ukraine. In1994Ukraine and the EU signed a partnership agreement.Since then Ukraine and the EU maintain an active relations, Ukraine also becomes atrusted partner for the EU. In economic field Ukrainian and the EU’s interdependencesignificantly increases. Ukrainian economy increasingly depends on a thriving andhealthy development of the EU’s economy.Ukraine has been already recognized by the EU as a market-economy country,and Ukraine hopes to enter the EU and join European integration process.From the perspective of economic interests, by joining the EU and in the EU’sfinancial support Ukraine can quickly get rid of its economic backwardness, and toshorten its gap with the EU Member States. Ukraine’s accession to the EU will alsogive the possibility to enter the European market, Ukraine can expand exports andattract foreign investment, expand foreign trade, create jobs, increase national incomeand so on.In the meantime, Ukraine is a country with rich natural resources, fertile land,high-quality labor, high levels of social spending. That’s why Ukraine’s accession tothe EU is the opportunity for the EU to expand its market. EU’s investments intoUkraine show a significant rise. Europe welcomes Ukraine to join the Union, but fornow Ukraine is unable to reach the levels of the developed EU Member States.Ukraine needs to take economic measures related to the new foreign tradedevelopment strategy and also measures used to control trade liberalization.This research on theoretical level studies Ukraine’s European integration and EUaccession process, describes the role of Ukraine’s accession to the European structuresand its efficiency, investigates Ukraine–European Union economic and traderelations, analyses the prospects for Ukraine–European Union cooperation inpolitical, economical, cultural and other fields, and also suggests necessarycountermeasures that might promote European integration and Ukraine’s accession to the EU.