Trends and prospects of economic cooperation between the republic of Kazakhstan and Ukraine

Abstract

Development of international cooperation in the context of globalization as an important component of the foreign economic activity has been considered. One of perspective areas of the foreign economic activity for Ukraine is the development of economic cooperation with the Republic of Kazakhstan. The results of analytical assessment of the economic cooperation effectiveness are being in need for the development of the effective foreign economic strategy. Methodological approach in order to conduct the research and to quantify the development of economic cooperation with the Republic of Kazakhstan has been developed. Formation of the information databases with the main indicators for the analysis of economic cooperation between countries has been foreseen. Analysis of the dynamics of foreign trade with the quantitative assessment on the base of the generated databases has been performed. Analysis of the structure of the foreign trade and investment activities has been presented. Developed methodological approach allows to form the analytical basis for the Ukraineʼs foreign economic strategy. Indicators of the foreign trade in goods and services, information about results of the intellectual activity for the analysis of economic cooperation have been used. Particular attention is being paid to the study of investments as a form of the international capital flows. Trending algorithms for commodity markets with the identification of possible export reserves have been developed. Analytical bases of the effective foreign economic strategy of Ukraine and development of economic cooperation with the Republic of Kazakhstan have been formed.