PROSPECTS FOR THE FOREIGN TRADE DEVELOPMENT RELATIONS BETWEEN UKRAINE, THE MIDDLE EAST AND AFRICA COUNTRIES

Abstract

The state of Ukraine foreign trade relations with the Middle East and Africa countries and directions of their growth have been analyzed. The Middle East and Africa region has been identified as one of the most promising for diversification of export-import flows based on an analysis of global factors influencing foreign trade. The analysis of the Global Competitiveness Index and foreign trade indicators of developing countries allows to make suggestions that in the next decade countries of this region will be able to maintain the pace of economic and social development and to form new growth points of the world economy. The considered export structure by countries and commodity groups allows to determine the current situation and reserves for growth. The analysis of exports commodity structure proves its mainly raw material orientation. It is determined that the main export-oriented sectors are agrarian, metallurgical, mining and forestry sectors, but the leading are first two (exports of wheat, sunflower and metallurgical products) are the leading ones. Leading approaches have been identified on the basis of generalizing international experience in export promotion, among which the basis is the establishment of a system of institutional support provided by appropriate governmental and business entities. The conditions for increasing of Ukrainian goods and services competitiveness in the target markets of the region are proposed. The conditions for increasing the competitiveness of Ukrainian products in the region target markets are proposed, namely the formation of a comprehensive export promotion strategy, the formation of an appropriate system for the national producer’s support, the creation of an effective monitoring system for promising markets and the feasibility of the economic diplomacy tools more active implementation. The economic diplomacy tools include: monitoring of world markets for goods and services, participation in international exhibitions and trade missions, conducting government and business negotiations, providing information support, conducting targeted market research. Prospects for further research in this area are to identify theoretical and practical prerequisites for creating the promoting the export of goods and services strategy in the Middle East and Africa region.