Foreign trade of Ukraine in the context of the common transit procedure

Abstract

The realities of wartime have a significant impact on the volume of the country’s turnover and the activity of Ukrainian enterprises, primarily exporters. The structure of Ukraine's foreign trade has undergone significant changes due to Ukraine's accession to the joint transit procedure. The terms of common transit should become a kind of impetus for Ukrainian entrepreneurs, in particular exporters, to expand sales markets. However, in order for all subjects of foreign economic activity to take full advantage of such benefits, they need to go through certain procedures and provide appropriate guaran­tees. The aim of the article is to highlight the changes and peculiarities of Ukraineʼs foreign trade in the context of the introduction of the joint transit procedure, as well as generalize the principles and criteria regarding the conditions and provision of guarantees by Ukrainian subjects of foreign econo­mic activity in the conditions of visa-free customs. To achieve the goal, the methods of statistical analysis, analysis and synthesis, deductive method were used. Transit transportation of goods under customs control is carried out according to a single transit document from the exporter's country to the importerʼs country under the provision of single gua­rantee, which is valid in the territory of all parti­cipating countries through which the goods pass from the supplier to the buyer. This will make it possible to reduce the cost of customs procedures and the time for their execution, the consequence should be a reduction in queues at the border, and therefore a faster response of foreign economic entities to the market needs. However, the guarantee should be provided in euros, and the risks of changes in the hryvnia exchange rate against the euro, the percentage of inflation, etc. will be included in the value of the guarantee. Domestic exporters currently have open prospects, which facilitate access to the markets of the European Union countries due to Ukraineʼs accession to the Convention on the Common Transit Procedure. Fulfilment of the necessary conditions is, first of all, a rather complex procedure, but the implementation of all requirements and the provision of appropriate guarantees should signifi­cantly simplify access to foreign markets, especially the countries, which are parties to the Convention, and increase the competitiveness of Ukrainian goods, which will have a positive impact on the general state of Ukraine’s foreign trade. Thus, highlighting the changes, features and prospects for the develop­ment of Ukraineʼs foreign trade in the context of introducing a joint transit procedure becomes relevant.