Determinants of the BSEC intraregional trade relations development

Abstract

At the article the structure and dynamics of intra-regional trade of the Black Sea Economic Cooperationis analyzed. It was reviewed that the share of intra-regional trade in import and export fallsduring the agreementexistence, just like its intensity. However, the trade intensity higher than that of the leading integration associations - EU and NAFTA, that indicates the importance of these markets for mutual trade. The role of BSEC in Ukraine's foreign trade is revealed. It was analyzed that domestic exports to the BSEC countries is low-intensive and import has narrowly diversified structure. Mutual trade in services has negative trends as a result of Ukraine transitive opportunities reduction, resulting in reduction of intra-regional trade in transport and travel services. All BSEC countries have a negative bilateral trade balance in goods, but in services it is positive in most countries.Determinants of intra-regional trade of association are systematized. The ways of stimulating the growth of qualitative and quantitative parameters of mutual trade are proposed. The necessity of reorientation of the Ukraine exports from resource- and labor-intensive products to hightech intensive products is justified.