Mechanisms for Ukraine's Economic Integration with EU Regions in the Context of Interregional Interactions

Abstract

Current trends in the development of the European community are characterized by the use of various forms of euro-regional cooperation (joint programs, regional economic development projects, Euroregions, inter-territorial cooperation, etc.) to promote sustainable growth, development of backward areas, and green transition. The processes of globalization and the problems of the EU countries’ internal markets have led to the need to find regional and local partners for the exchange of goods, services, knowledge, technologies, innovations, and labor resources. This need has transformed the economic environment towards the creation of a single common market for goods, capital, and labor resources with regional peculiarities of development and growth due to the internal specifics of trade, investment, financial relations, and labor markets within the EU. These regional differences make it important to develop various strategies for the development of interregional economic cooperation, in which Ukraine is assigned the role of an important strategic trade, investment, and financial partner. In the context of intensifying European integration processes, the study of existing strategies for interregional cooperation between Ukraine, Poland, and other EU member states is of particular importance. The purpose of the study is to provide an extended analysis of strategies for the development of interregional economic cooperation between Ukraine and the European Union in the context of sustainable development. The article outlines the advantages, limitations of various strategies and forms of interregional economic cooperation, strengths and weaknesses of Ukraine’s partnership with the EU member states. The specifics of the formation of modern strategies for the development of interregional trade between the EU and Ukraine are determined, their advantages and weaknesses are analyzed, and priority areas of development are identified. The necessity of improving the strategy for the development of interregional economic cooperation between Ukraine and the EU member states to ensure long-term competitive advantages is substantiated.