DIGITAL TRADE INITIATIVES AS AN ELEMENT OF DIGITAL TRANSFORMATION IN ECONOMIC DIPLOMACY

The study focuses on analyzing the impact of digital trade initiatives on the transformation of economic diplomacy in the context of global digitalization. The dynamics of international trade in digital services and the evolution of regional trade agreements are examined. The aim of the research is to assess the influence of digital trade initiatives on the development of economic diplomacy and analyze their effectiveness in promoting international trade in the digital economy. The research utilizes statistical data on international trade in digital services, information on regional trade agreements, and digital economy/trade agreements. Methods of systematic and statistical analysis, forecasting, and graphical data visualization are applied. An analysis of the regulatory framework for digital trade at the international level is conducted. The study reveals a steady growth in the share of digital services in international trade, exceeding 50 %. A 19.6 % increase in the export of digital services is projected by 2026. A trend towards concluding specialized agreements on digital economy and trade is established. The EU’s approach to the digital transformation of economic diplomacy, which involves a comprehensive strategy for developing a digital ecosystem, is analyzed. The role of WTO multilateral agreements in forming the legal basis for digital trade is investigated. It is found that the implementation of digital trade agreements faces challenges related to insufficient development of domestic legislation and the need for harmonization of norms. Further research should focus on analyzing the effectiveness of implementing digital trade agreements and studying mechanisms for adapting traditional economic diplomacy tools to the requirements of the digital economy. An important direction is to investigate the impact of digital trade initiatives on the economic development of participating countries and analyze associated risks and challenges. The study of the role of digital economic diplomacy in shaping the new landscape of international economic relations and developing strategies for its effective development is promising.