DETERMINANTS OF THE DEVELOPMENT OF INTERNATIONAL TRADE IN AGRI-FOOD PRODUCTS BETWEEN THE US AND SOUTH KOREA

Abstract

The status and trends of bilateral trade relations between the US and the Republic of Korea in one of the fastest growing segments of the world market have been analzed in the article. The purpose of the study was to uncover the latest trends in the development of international trade in organic agro-food products between countries and to identify the institutional levers that affect its course. It is determined that the rapid development of the world market of organic agro-food products is caused by a group of determinants directly related to global demand (high standards of consumption, motivation by environmental, medical and marketing factors) and supply (resource potential, relatively low financial input and technological market). profitability), as well as institutional levers of functioning of the designated market (international and national). It is substantiated that strong diplomatic and political activity of the US Government to implement bilateral trade agreements with developed countries of Asia and the European Union, including certification in the standards of normalization, became a significant prerequisite for ensuring the expansion of the American small and medium business in the international markets in the organic agro-food segment. and thus creating a legal framework for the recognition of the internal certificates and standards of the signatory of the agreement (USA) on the territory of another member of the trade agreement. It is determined that the strengthening of the position of one of the trading partners in mutual trade, as evidenced by the experience of cooperation between the two countries, is achieved under the conditions of strategic adaptation of the government of the partner country to global political challenges and imbalances, in the case of the Korean state its leadership on deepening its strategic partnership with the United States amid escalating economic confrontation in international trade between them and China. The practical significance of the study is to deepen the theoretical foundations of the level of validity of the decision-making system at the macro and micro levels in the field of foreign trade in organic products of Ukraine in view of global environmental challenges and the latest trends in international trade and economic competition. The prospects for further research are defined in the area of regulatory instruments in the field of international trade in organic agro-food products with regard to the potential risks of their use as the latest non-protectionist "weapons" by rich countries (USA, EU, Japan, etc.) in relation to competing countries, including Ukraine.