Agricultural production and processing industries are of strategic social and economic importance and act as export oriented industries of Ukraine. However, complete absence of an adequate market for land, imperfect land management and questionable principles of land valuation restrict development of agricultural industry. The main difference with land market in any other foreign country is free access to easy and transparent trade of land plots. On the other hand, what other countries have perfected over the years, only remains at an embryonic stage in Ukraine. Having taken the above statements into consideration, it is of vital importance to research the empirical data of functioning land markets abroad and to analyze local aspects of the land reform in Ukraine. The research conducted identified country specific aspects which relate to trade and land lease. Namely: the highest and the lowest fee for land lease, the minimum term for land lease agreements, requirements for termination of land lease, priority of a tenant to purchase the land plot, protection aspects for landlords who cultivate their land, purchase priorities for the neighboring farmers, citizenship requirements for land owners and the maximum volume/area of land owned. In this research the main aspects and limitations of the following were considered: receipt of ownership rights for land plots which qualify for agricultural use by citizens of Ukraine, state owned banks, legal entities, foreign citizens, foreign legal entities, defined by Ukrainian legislation, Bill 552-IX. The research concluded that in order to ensure a successful land reform in Ukraine a range of conditions needs to be met. These include, but are not limited to: protection of ownership rights of landlords/investors, improvements to judicial system, adaptations to agricultural legislation and civil rights, registration of all land plots in s single register and adaptation of their fair value. As a result of application of the mentioned improvements, new and effectively functioning land markets should ensure the following: owner and investor protection, improvements in market transparency, inflow of investments and introduction of innovative solutions, efficiency improvements and higher capitalization of domestic agricultural producers. To conclude, the research has proven that application and adaptation of methods used in European countries in promotion of farming cooperatives, simplifying requirements to for leasing contracts, and trade loans from producers of agricultural machinery and equipment in order to surpass the breakeven point is relevant to development of Ukrainian market and it is recommended that past experience of European countries, which have already undergone this procedure is regularly consulted with.
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