PROSPECTS OF DEVELOPMENT OF FOREIGN ECONOMIC ACTIVITY OF DNIPROPETROVSK REGION

Abstract

The article is dedicated to the problem of effective implementation of foreign economic activity of Ukraine and its regions in the conditions of economic instability and financial crisis. The development of foreign economic activity of regions of Ukraine will provide the increase of general level of economic development of Ukraine on the whole. In the course of the research the current state of foreign economic activity of Ukraine and Dnipropetrovsk region is considered, using available approaches to its estimation. The tendencies of development of foreign economic activity of Ukraine and Dnipropetrovsk region are revealed. It is stated that the structure of the export basket consists of a small number of goods with relatively low added value, and that the available resources, in particular, the potential of highly qualified personnel, are not fully used. The realization of export potential is primarily consists in importance to substantially adjust foreign trade policies to create favorable conditions that stimulate trade and innovation to diversify exports. The strategic goal of state support for exports is to strengthen Ukraine's position in the world markets for high-tech products, diversify supplies and ensure the competitiveness of domestic products in foreign markets through the effective use of economic, legal and political leverage. It is emphasized that metal products and mineral products are the pillars of export of Dnipropetrovsk region. Mechanical engineering of the region is developing slowly, despite the availability of scientific, technical and human resources.As a result, the strategic direction of the export potential of Dnipropetrovsk region was defined – it builds on competitiveness of key export-oriented industries: metallurgy, chemical and mechanical engineering.Implementation of the proposed district recommendations and on adjustment of foreign policy field based implementations and export potential of the region, improvement of favourable investment climate in the region and have not only economic but also social effect, will provide an opportunity to create additional workplaces and increase a receipt to the budgets of region and country. Keywords: foreign economic activity, management, export, import, competitiveness, region, potential.