DIGITAL TRANSFORMATION OF THE STATE’S FOREIGN TRADE POLICY

Abstract

Background. The impact of digital transformations on financial, invest­ment and trade flows requires the introduction of appropriate incentives and the reduction of restrictive practices. The lack of coordination between national governments and international organizations in establishing mechanisms and instruments increases the risk of instability zones. Modern regulatory instruments applied by countries may be twofold, owing to the nature of digital technologies. In sum, the issue of improving foreign trade policy is actual and requires further research and practical consideration. The aim of the articleis to develop theoretical, methodological and practical approaches to the regulation of the foreign trade policy digital transformation process. Materials and methods. Database of statistical and analytical materials of international organizations (Organization for Economic Cooperation and Development, World Economic Forum), national statistical offices, centres of expertise and in-house research were used. The study used economic analysis, comparison, grouping and systematization methods. Results. The article examines the theoretical, methodological and practical approaches to regulating the process of digital transformation of foreign trade policy. It is determined that the main directions of regulatory practices are the rules for data transfer, consolidation and regulation of intellectual property rights, data protection of consumers of information services, ethics of digital products. The classification of tools of digital transformation of foreign trade policy is formed. Conclusion. The growing share of digital goods and services in inter­national trade has intensified the complex aspects of global cooperation among countries to develop the digital economy and to regulate joint activities in the creation of physical and virtual mobility rules. For Ukraine, it is important to accelerate the pace of implementation of planned measures and to strengthen the development and introduction of stimulating tools for the development of the destiny of the digital sector in the economy.