Foreign Trade Relations Between Ukraine and China: Main Directions of Development

: pp. 157 - 165
Lviv Polytechnic National University, Department of Foreign Trade and Customs
Lviv Polytechnic National University, Ukraine

The article is devoted to the problems of developing foreign trade relations between Ukraine and China, as China ranks first in terms of trade among other trade partners of Ukraine. The article analyzes the reasons for China’s interest in Ukraine and possible benefits for our country. The countries’ export, import, foreign trade turnover, and foreign trade balance indicators are studied. The calculated indicators allowed us to state a positive trade balance for most goods, which indicates the advantage of exports over imports. The growth rates of exports and imports for the main product groups are calculated. It is concluded that the dynamics of international trade for ferrous metals, seeds, and fruits export growth rates are the highest, and electric machines and flour products — the lowest. The necessity of direct investments for further development in all spheres of the economy is substantiated. The structure of investment cooperation between Ukraine and China is analyzed, and conclusions are made about the number of direct investments coming from China. Based on the research and study of literature sources on the selected topic, the following conclusions were drawn on the prospects of foreign trade relations between China and Ukraine: it is advisable to study in detail the development of China’s interests to adjust Ukraine’s export policy to revive cooperation partners of Ukraine; as for the Ukrainian-Chinese trade relations, the following product groups have particular prospects for development: already positive in the foreign trade balance (corn, soybeans, barley, dairy products, honey), negative in the foreign trade balance (poultry, pork, fruits, vegetables) ) and products that do not require special state permits (sunflower oil and a wide range of food products). It is expedient to develop bilateral relations in mutually beneficial areas for both countries; there is a positive trade balance for most goods. For ferrous metals, seeds, and fruits, the export growth rates are the highest. For electric machines and flour products — the lowest, we need to emphasize the stabilization of exports of commodity groups, where export growth has increased. Ukraine needs to make tremendous efforts to join the “One Belt, One Road” initiative as a participant: because our country is only a watchdog. Also, you need to show more initiative and declare your desire to join the project “16 + 1”.

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