European integration: challenges for foreign trade

The practical significance of this study lies in highlighting the challenges accompanying the process of implementing the principles of the European integ­ration process for Ukrainian trade and the possibi­lities of economic responses to them. The aim of the study is to identify risks and threats to Ukraine’s trade caused by the development of the European integration process. To achieve the goal, the methods of theoretical generalization, analysis and synthesis were used. According to the results of research by leading scholars, the main challenges accompanying the process of EU integration with Ukraine in the field of trade have been determined. The risks and threats caused by the process of European integration for Ukraine are classified into the following groups: political, financial, the use of labour force, commodity, competitiveness, technological, environmental, and social. It was noted that in order to overcome the mentioned risks and threats, Ukraine needs to significantly diver­sify its efforts. The set of measures related to the implementation of the European integration process includes: continuation of the announced reforms, expansion and diversification of markets for Ukrainian products, protection and support of Ukrainian producers. In this situation, measures to overcome economic crime and proposals for changes to the Agreement that will maximally take into account the interests of Ukraine are also important.