Export potential of Ukraine in GAFTAA markets: UTAS Co case

Abstract

Introduction. Deep demographic changes, the economic crisis due to the pandemic, the war in Ukraine and growing geopolitical tensions in the world raise the issue of rethinking and concretizing areas of trade and economic cooperation with the Middle East, which existed in recent years but failed to achieve sustainable development.

Problem. The GAFTAA member countries are interested in expanding and strengthening trade relations with Ukraine.

The aim of the article is to identify the prospects of Ukrainian medical equipment manufac­turers entering the market of the Extended Arab Free Trade Area GAFTAA on the example of UTAS Co.

Methods. General scientific methods are used: historical-logical and system-structural, comparative and statistical analysis; informational, procedural and institutional.

Results. It is established that by the end of 2021, the vast majority of companies represented in the market of medical goods and services in the Middle East are of American origin. But there are also companies from Germany, Ireland and the Netherlands. The positive dynamics of imports in the market of medical equipment GAFTAA for 2016–2021. At the same time, in the economic crisis caused by the pandemic, it is necessary to find «breakthrough» sectors that will increase production of goods and services with high added value.

Conclusions. The production of competitive medical equipment itself may become one of the «breakthrough» sectors of the economy in the recovery period after the crisis caused by the pandemic and war in Ukraine. GAFTAA is very attractive for Ukrainian manufacturers. Among the main Ukrainian manufacturers of medical equipment is UTAS Co, which is already present in the markets of high-tech goods of certain countries GAFTAA and the Arab League, which opens the prospect of simplified entry into the markets of other countries party to the agreement.