The Prospects of Ukraine’s Integration into Global Value Chains Within the Framework of European Integration
The Prospects of Ukraine’s Integration into Global Value Chains Within the Framework of European Integration

Summary/Abstract: Objectives: The article aims at studying Ukraine’s current foreign economic activity factors within the framework of European integration. Research Design & Methods: The research methods used in the study are as follows: analysis and study of literature, scientific description, Internet-based research, statistical and structural survey, data sheet presentation. Findings: The research proved that the economic relations between Ukraine and the EU tended to increase significantly. Statistical trends demonstrated a considerable increase in the foreign trade within global value chains (GVCs). A gradual intensification of economic relations between Ukraine and the EU seems evident, providing integration of Ukrainian companies into global value chains. Based on a recent analytical survey, most agricultural and industrial products exported from Ukraine accounted for 42.1% of the total international sales in 2020. Furthermore, over 70% of Ukrainian IT software development exports are estimated to be outsourced to third parties. Implications/Recommendations: Recommendations for Ukraine’s integration into global business services (GBSs) can include developing services in the context of GVCs, developing international cooperation between enterprises on global business platforms. The basis for successful integration into GVCs must be the development of innovative ecosystems of industrial high technologies. It is important to develop innovative industrial high-tech ecosystems for successful integration into GVCs. Contribution/Value Added: The author tries to formulate modern directions of development for further integration of the Ukrainian economy into global value chains in the context of cooperation with the EU’s member states.

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