EU Market Research Articles

The EU Market in Times of a Global State of Emergency: Internal and External Trade Barriers in the Age of Pandemics

This article explores the immediate reaction of the EU and its Member States to the Coronavirus disease 2019 (COVID-19) outbreak in Europe in terms of trade restrictions. Almost all Member States adopted export control measures on personal protective equipment (PPE) essential to combat the pandemic in order to preserve it for the domestic market. The trade barriers affected the intra-EU trade as well as the external trade with third countries. The article explores whether and to what extent these restrictive measures on exports within the internal market may be justified on grounds of the protection of health and life of humans, as allowed by Article 36 Treaty on the Functioning of the European Union (TFEU). It will be argued that the consolidated case law justifying a Member State facing health emergencies to adopt restrictive measures to protect the population on its territory is not suitable in case of pandemics. The degree of market integration and the rising concept of health solidarity as an EU objective allow a different interpretation of the health exception assuming as term of reference the whole EU population. The article further analyses the export authorization scheme adopted by the Commission to allow restrictions on exports of PPE to third countries in case of shortages in essential goods in the Union. The article concludes by suggesting a preventive EU mechanism of control of intra-EU export restrictions in case of serious cross-border threats to health, similar to the export authorization scheme for extra EU exports, in order to avoid unilateral and disjointed responses by Member States in the future. COVID-19 crisis, European Union response, Export control measures, Public health exception to free movement of goods, Member States general interest, Health solidarity in the EU, External trade restrictions, Export authorization schemes.

Podwójna jakość żywności: nowe zjawisko rynkowe czy protekcjonizm państwowy

Artykuł dotyczy nowego zjawiska na rynku unijnym, jakim od kilku lat jest tzw. podwójna jakość żywności. Zagadnienie to stało się przedmiotem wielu spotkań i dyskusji, tak na szczeblu poszczególnych krajów unijnych, jak i na forum głównych organów UE (Parlament, Rada i Komisja). Wprowadzono nowe uregulowania prawne, prowadzone są kontrole oraz badania żywności w zakresie jej jakości, a w zasadzie jej jakościowego zróżnicowania w poszczególnych krajach członkowskich. W artkule podjęto próbę oceny, na ile jest to rzeczywisty problem gospodarczy i rynkowy, a na ile działania zmierzające do wprowadzenia na wspólnym rynku nowych form protekcjonizmu państwowego w zakresie produkcji i obrotu żywnością, a więc tej części rynku, która i tak jest w największym stopniu objęta zharmonizowanym prawem unijnym.

Effects of variable EU import levies on corn price volatility

The variable import levy for corn imports in the European Union aims to support European producers by insulating domestic prices from low international prices. Such price-insulating policies have been associated with an increase in global market volatility. Eliminating these distortions has been one of the key issues in international negotiations on agricultural trade liberalization, e.g., the commitment of WTO member states to follow the principle of tariffication as part of the Uruguay Round Agreement on Agriculture. Nevertheless, the Blair House Agreement effectively allowed the EU to maintain a variable import levy regime for grain imports, although the magnitude of this levy is substantially smaller than in the past. Notwithstanding that this policy has been a cornerstone of the EU’s Common Agricultural Policy, empirical evidence on the magnitude of its effects on price volatility is largely missing. This paper employs a multivariate asymmetric volatility model to assess these effects on domestic and foreign corn markets, using Argentina – a large exporter of corn – as an example. In line with the relevant theoretical literature, we find empirical evidence for the 2002–2017 period that the variable import levy reduced corn price volatility in the EU market, while significantly increasing volatility to the same extent in Argentina. In a distorted sense, the import levy of the EU has thus been a success, as its variable application rate has stabilized prices in the EU domestic market. However, our results show that this policy has merely shifted price volatility abroad since it has led to increases in price volatility in Argentina. A less distortionary policy to target the problems of agricultural price volatility should shift its focus away from direct price interventions. For instance, domestic policies that improve farmers’ ability to cope with price-related risks would avoid the negative effects of domestic price stabilization in foreign countries.

Harmonization of national quality standards to European as a mechanism for improving the competitiveness of vegetable products

The article has already analyzed the problem of ensuring the competitiveness of vegetable products in the European market. We have already revealed the need to integrate EU quality standards into Ukrainian legislation. It was determined that one of the mechanisms for increasing the competitiveness of vegetable products is the harmonization of national quality standards with European ones. The aim of work - to reveal the existing problems regarding the quality of vegetable products, to justify the need to integrate EU standards into Ukrainian legislation, to give a comparative description of the quality standards of fresh vegetables in Ukraine and the EU. The quality standards for fresh vegetables in Ukraine and the EU countries are now being analyzed in the context of our country's aspiration to join this organization. In Ukraine, the quality of fresh vegetables is established by national standards (DSTU), as well as harmonized with European ones (DSTU UNECE FFV). Presented were the comparative characteristics of the quality requirements for fresh cabbage, carrots and onions. On the basis of the analysis, obvious differences between national standards and those harmonized with European quality standards for vegetables were outlined. Conclusions. Consequently, the harmonization of national quality standards with European ones is one of the mechanisms for increasing the competitiveness of Ukrainian vegetable products in the European market. From the examples given earlier, common and opposite features of the classification of product standards in Ukraine and the EU countries, an analysis of domestic and foreign regulatory and technical documentation for fresh vegetables, it was found that the quality of vegetable products was assessed according to the same organoleptic properties (appearance, shape requirements, dimensions products, color, taste, smell), as well as physicochemical (content of harmful substances), contained requirements for packaging, labeling, transportation and storage, but there were differences in the norms of individual indicators. In addition, the EU marketing standards do not contain storage requirements, as it is mandatory for the manufacturer/seller. Ukrainian standards for fresh white cabbage, carrots and onions set maximum levels for heavy metals like lead, cadmium, mercury, copper, zinc. For EU producers, maximum levels of pollutants have been given in separate EU regulations. Keywords: fresh vegetables, quality, harmonization, marketing standard, national standard, white cabbage, onion, carrots.

A Review of the EU’s Regulatory Framework for the Production of Nano-Enhanced Cosmetics

Literature has suggested metallic nanomaterials (NMs) for a multitude of applications in cosmetic products, either as active ingredients or excipients. Alike most high-paced industrial sectors, cosmetology continues to capitalize on its unique properties/functions (e.g., as UV-filters, colorants, etc.), adding value to a wide range of products. However, as a result of their nano-scale, NMs do not always conform with the handling guidelines of their bulk counterparts, nor do conventional analytical methods account for their complex physicochemical and biological interactions. Among others, metallic nanoparticles have attracted the interest of many over the years due to their unique features, but possible precautions should be considered because of their bio-persistent nature. As a result, it is prevalent to consider a nano-specific framework, to regulate the use of NMs and the production of nano-enhanced cosmetics. To address this, we provide insight into the NMs that are currently used in the EU market, with a focus on metallic NMs, while analyzing the underlying legislation and relevant Opinions of the Scientific Committee on Consumer Safety (SCCS), from a scientific and commercial perspective. Even though the current Cosmetics Regulation (EU Regulation No 1223/2009) already entails specific provisions on NMs, cosmetic products incorporating unauthorized NMs have been repeatedly commercialized in the European Union. Considering the potential risks of NMs if they are mishandled, we provide an analysis of the risk assessment, as stated in Article 16 of the Cosmetics Regulation, to serve as a guideline for the future growth of nano-enhanced products. Based on the limited integration of metallic NMs along with multiple non-metallic NPs into cosmetic products, the attention of the community is directed towards coordinating efforts on the integration of metallic NMs into cosmetics.

Перспективи доступу українських експортерів органічної продукції до ринку ЄС в умовах екологізації Спільної аграрної політики ЄС

The article identifies the main directions of the EU Common Agricultural Policy at the present stage, which are focused on the ecologization of the agricultural sector. Based on the goals of the CAP for the period 2021-2027, the dynamics and importance of the development of organic production in EU member states were analyzed. It is proved that organic farming and trade in organic products are the perspective niche area for Ukrainian exports to the EU. The main factors of the development of Ukrainian organic exports to the EU are highlighted, including simplified access to the EU market under the Free Trade Agreement with the EU, the significant capacity of the EU market, growing demand for organic food in EU member states, and insufficient domestic supply of organic products on the European market.

Similar Yield Benefits of Hybrid, Conventional, and Organic Tomato and Sweet Pepper Varieties Under Well-Watered and Drought-Stressed Conditions

Global agrobiodiversity is threatened by the replacement of traditional, locally adapted crop varieties with high-yielding and hybrid varieties during the past 60 years, resulting in associated losses of crop, variety, and allele diversity. Locally adapted, traditional varieties are known to perform equal or even better under environmental stress conditions and to be more resilient in unstable cultivation environments. Therefore, European organic vegetable breeding organizations conserve local, traditional varieties and breed new varieties in low-input organic environments, aiming to increase the range of varieties for sustainable cultivation under sub-optimal growing conditions. However, performance of organic vegetable varieties, in comparison to conventional high-yielding and hybrid varieties, under different environmental conditions has not been intensively researched. To contribute to this scientific field, we compared the agronomic and quality performance between hybrid, conventional, and organic tomato and sweet pepper varieties, two economically important species on the EU market under a) well-watered and b) drought stress conditions, using five different varieties (i.e., 30 varieties) as replicates in each of the six groups. Performance of both species was negatively affected by drought, regardless of the breeding background. Equally, for tomato and sweet pepper, hybrids produced higher amounts of individual fruits, however total yield in kg was comparable for hybrid, conventional and organic plants. Considering the agro-ecological importance of enlarging and securing variety diversity in light of changing environmental conditions, we show that the assumed benefits of the hybrids can also be delivered by the organic and conventional varieties. These varieties should be considered as an important source of genetic resources, supporting farmers to adapt to their local climate and environmental conditions in the future.

Gli obblighi di trasparenza degli investitori istituzionali in materia ambientale e sociale: un cortocircuito logico? (Institutional Investors’ Non-Financial Reporting: Why the EU Regulatory Framework Should Be Updated)

The Big Three (BlackRock, Vanguard, and State Street Global Advisors - SSGA) have increasingly committed to caring about environmental and social (E & S) issues. While their E & S commitment has received some scrutiny in the United States, in Europe it did not receive much academic attention so far. In this paper, I create a unique dataset of 83 European companies and assess the Big Three’s aggregate and individual ownership in such companies. I then collect data on how BlackRock — the one, among the Big Three, that committed the most to E & S issues — promoted its E & S agenda in 2020 in such companies. I find that E & S issues are discussed overwhelmingly through private engagements, while are almost never raised through shareholder proposals. In light of this evidence, I then explain that, by focusing mainly on the disclosure of the most significant votes, also with regards to non-financial issues, the current European framework on the disclosure of E & S information is based on a misconception: that the EU market is characterized by traditional shareholder activism, where shareholders put forward many proposals, including on E & S issues, and voice is conducted through the most typical tool: voting. I conclude by exploring the policy-making implications of my findings. In particular, I argue that, if the dissemination of E & S information on the markets is a desirable policy goal, then the regulatory framework should be updated with the introduction of a disclosure regime for those private engagements in which E & S matters are discussed.

Determinants of Chinese Foreign Direct Investment in Central and Eastern Europe

The article deals with China’s outward direct investment (ODI) in Europe. The ODI has been on the rise and is unique in the sense that its development is much faster than in any other developing country. We investigate the determinants of Chinese ODI in ten countries of Central and Eastern Europe in the time span of 2005 and 2018. Using panel data analysis, the regression model incorporates both traditional macroeconomic variables as well as selected institutional variables, trying to test which of those work best at explaining the Chinese investment activity in the countries of interest. The quality of the institutional framework is represented by EBRD indicators, which seem to be more suitable for transition economies. Findings generally suggest that Chinese multinational enterprises do not access Central and Eastern European countries primarily for market-seeking reasons. However, the fact of being a member of the EU helps Chinese ODI since the membership is used as a sort of “backdoor” to the large European markets. Still, Chinese ODI is less likely associated with a sound institutional environment of a host country, as the opposite appears to be true. These findings, therefore, support the hypothesis that access to the single EU market and R&D spending are more important determinants of the Chinese ODI than almost any other factors. Implications for Central European audience: The article explores the main drivers of Chinese foreign direct investment in the CEE region while it employs the most relevant theoretical framework, including several recently developed theories. The quantitative analysis then thoroughly explores the weight and sign of selected drivers using recent data and questions some of the conventionally accepted surmises about motivations of Chinese investment activity in the CEE region. This is an important topic given the ongoing debates about China’s influence in the region as well as about the intensity and general value added of its investment activity.

Peculiarities of certification of led products of Ukrainian origin in the introduction of export direction to European Countries

Introduction. In conditions of intensified market competition, the quality and safety of goods play an important role in the economic, social and environmental position of the state in the international market. To regulate the circulation of goods in foreign and domestic markets and prevent oversaturation, countries are actively using the tools of technical regulation of products. Foreign economic entities engaged in foreign economic transactions must first adapt the characteristics and features of the goods to the requirements of the host country, regulating the conformity of the components of the goods to the conditions, norms, standards and technical regulations of the country. The purpose of the paper is to define the procedure for certification of LED products intended for export to the markets of the European Union. Results. The paper analyzes the features of certification of LED products intended for export to the markets of the European Union. It is determined that LED panels and lamps can be placed on the EU electronic market subject to compliance with Directives 2014/30/EU, which are designed to protect work from electromagnetic interference. In order to confirm that the products meet the requirements specified in the Directive, it is necessary to pass a conformity assessment, in particular, to conduct internal control of production and examination of the EU. The publication also contains the requirements for internal production control and EU expertise, the features of labeling of LED products. When placing electrical or electronic products on the EU market covered by Directive 2014/30/EU, it must bear the CE mark. The mark must be placed on each unit of production, on the packaging, on the accompanying documents. The CE marking must be visible, clear and legible. Energy-related products sold in the EU must meet the energy labeling requirements set by EU Regulation 2017/1369. In addition, the basic requirements for the development of labels for LED products intended for export are also defined. Conclusions. Compliance with all EU requirements for the quality of goods and compliance with the Directives allows domestic companies to export goods to European markets. Access to EU markets has a positive effect on the country's economy as a whole.

‘Regime vetting’: a technique to exercise EU market power

ABSTRACT There is a broad consensus that the EU has great sources of power but little agreement on how and when this power is actively leveraged to shape global market regulation. Scholars have noted a widespread fragmentation and called for studies that cover multiple cases and account for how contextual factors influence strategic aims. This article responds to these calls by conceptualizing ‘regime vetting’ as a technique used by the European Union to reach beyond its borders in various sectors. By coining this term, the article enables exploration of a form of active and de-centred power projection that leverages the EU’s main sources of power. The article also offers a typology of four different types of regime vetting and propositions on how internal and external contextual factors systematically shape the strategic uses of regime vetting, thereby contributing to the theoretical discussion on how ‘context matters’ in shaping EU external action.

Molecular authentication of crocodile dried food products (meat and feet) and skin sold on the Chinese market: Implication for the European market in the light of the new legislation on reptile meat

A molecular approach (DNA barcoding and phylogenetic analysis) using mitochondrial COI and 16SrRNA genes was used to identify species in crocodile dried food products (meat and feet) and skin sold on the Chinese market and generically labelled as “鳄鱼” (crocodiles). All the 80 collected samples (100%) were identified at species level and five of them were also identified at sub-species level using the COI gene. Limits of the DNA barcoding approach related to the presence of sequences from misidentified specimens on official genetic databases (Genbank and BOLD) were encountered. The only DNA barcoding method was successfully applied for the species identification of 47 (58.7%) samples (42 using the COI and 5 using the 16SrRNA) while the support of the phylogenetic analysis was considered in 7 (8.7%) samples (performed using the 16SrRNA gene). For the remaining 26 samples (43.3%) the species identification was only achieved by phylogenetic analysis using the COI gene. Three species were overall detected: Crocodiles siamensis (n = 44; 55%), C. porosus (n = 29; 36.2%) and Caiman crocodilus (n = 7; 8.7%) with the sub-species C. crocodylus crocodylus in 5 out of the 7 cases. Although the traceability system of these products in China presented evident shortcomings, outcomes from this study appeared comforting since all the three species are among the most reared for meat production and can plausibly feed the market requests. Interestingly, only one of these species is included among those considered by the new EU legislation on reptile meat. Therefore, although Chinese crocodilian-based products are still not allowed to be imported in the EU market, a future law up-dating could not be excluded considering the relevance of the Chinese exports for the EU. Outcomes from this study, other than allowing to monitor products through the whole food value chain, contribute to enrich the scientific pool of data from which EU food imports legislation draw upon.

Modernization of the Format of Ukraine’s Trade Integration With the EU in the Conditions of Implementation of the DCFTA

Purpose: The purpose is to define the efficiency and priorities of modernization of Ukraine’s trade integration with the EU countries in the implementation of DCFTA and to attempt to assess the indirect effects of the free trade agreement between countries. Design/methodology/approach: To this end, a comparative analysis was carried out to assess the effectiveness of the Association Agreement and to identify the asymmetry of trade and economic integration between Ukraine and the EU. The correlation regression method was used to determine the dependence of Ukraine’s exports to the EU countries on GDP changes and to identify the integration impacts on economic growth. In turn, the extrapolation method was employed to calculate forecasts for the economic growth rate and GDP per capita. Findings: Determining the effectiveness and priorities of modernization of the trade integration format of Ukraine-EU in the implementation of the DCFTA, as well as evaluation of the intermediate results of the FTA between the countries. At present, it is necessary to modernize the format of Ukraine’s trade integration with the EU in the context of the implementation of the DCFTA. Three main vectors for updating the Agreement have been identified as priorities: deepening sectoral integration; increasing duty-free export to the EU market; eliminating non-tariff measures restricting trade with the EU along with signing a number of agreements for the above-mentioned purpose. Research limitations/implications: The results of the study will be useful to researchers of relevant issues, students, graduate students, doctoral students and teachers specializing in international relations and other academic disciplines, and the developed initiatives can be used by the government to form a new negotiating position on the Association Agreement between Ukraine and the EU. Originality/value: Forecasting and modeling the Ukraine-EU foreign trade turnover based on the use of the gravity model and correlation-regression analysis confirms that the introduction of the DCFTA in 2016–2017 allowed Ukraine to increase exports to the EU and modernization of the trade part of the agreement will positively affect the economic and social development of Ukraine. In this context, it is necessary to take into account the national interests and trade partners, in particular the possibility of Ukraine’s support for the EU initiative “European Green Deal” on the path to the formation of Europe as a carbon-neutral continent.

РОЗВИТОК МІЖНАРОДНОЇ ТОРГІВЛІ СІЛЬСЬКОГОСПОДАРСЬКОЮ ПРОДУКЦІЄЮ В КОНТЕКСТІ ЗАЛУЧЕННЯ ІНОЗЕМНИХ ІНВЕСТИЦІЙ

International trade is one of the most common forms of economic relations. The country's participation in international trade allows for an additional positive effect that contributes to the country's economic growth.The purpose of the article is to highlight trends and prospects for the development of international trade in agricultural products in the context of attracting foreign investment.The article analyzes the level of implementation of international standards in Ukraine in terms of certain types of agricultural products. The factors that hinder the entry of domestic agricultural products into the EU market are identified and recommendations are given to increase the competitive position of Ukrainian agricultural producers in the international market.The level of harmonization of existing standards for agricultural products is considered. In Ukraine, standardization and certification is mandatory for almost all products, but due to outdated standards, they do not ensure quality. It is noted that the lack of European certificates of conformity for domestic manufacturers is a lever that inhibits the entry of Ukrainian products into the EU market. The top 5 positions of world exports of agricultural products are analyzed. The largest volume of exports falls on cereals. It is proved that the import of domestic agricultural products largely depends on the volume of investment in the industry. The requirements are identified, compliance with which promotes the entry of agricultural products into foreign markets and has a positive effect on attracting foreign investment. It is noted that the EU is currently Ukraine's second trading partner after the CIS. It is proved that the agro-industrial complex is one of the key sectors of the national economy.The authors believe that Ukraine has all the necessary prerequisites for the development of foreign trade in agricultural products. First of all, it is the development of agricultural enterprises in Ukraine, maintaining appropriate relations with other countries and compliance with international standards. These preconditions provide the foundation for the transition to a global level in the country's economy. The potential of agriculture is sufficient to secure Ukraine the appropriate status in the world market of agricultural products.

Serbian agricultural cooperatives and their path towards the European Union: Legal aspect

The association of farmers as a model of sustainable rural development is a significant factor in the rapid development of agriculture and the improvement of the position of agricultural producers. The economic importance of cooperatives in the world and Europe is continuously growing, especially in the conditions of global and regional economic and financial crises, when cooperatives show a high degree of resistance to the shocks of these crises and a high percent of survival on the market. The European Union recognizes the growing role of cooperatives. The European Commission define the cooperative sector as protector and promoter of the European model of social economy, and as an extremely important factor in building and preserving local "social capital" - trust, mutual assistance and horizontal ties between citizens and organizations. New EU members and candidate countries preparing to join the EU, including the Republic of Serbia, should promote cooperatives as a key aspect of economic development and social policy. The aim of this paper is to analyze the current legal position of agricultural cooperatives in Serbia, and to determine the degree of harmonization with EU regulations and comparative analysis of their legal regulation in the EU Member States. Based on the conducted analysis, recommendations will be proposed in order to improve the legislative framework of agricultural cooperatives in Republic of Serbia in order their future successful functioning on the EU market.

Reforma sistema kripto licenci u Estoniji i predlog Uredbe o tržištima kripto imovine

As part of the EU's Digital Finance Strategy, the European Commission's proposed Regulation on Markets in Crypto Assets is currently going through its first readings in the Council. The goals of this regulation include protection of the customers, promoting innovation, unification of the regulation of cryptocurrencies at the EU market, etc. However, in parallel with this normative initiative, Estonia is already mulling the overhaul of its entire system of crypto-licensing. A Danske bank scandal demonstrated weaknesses of the current cryptolicensing and it is now on the Estonian government, as the first EU government to encounter this kind of situation, to try to improve current regulation. In this article, both MiCA and the roots of the potential overhaul of crypto-licensing in Estonia will be analysed.

Consumer Behaviour of Generation Z in the Context of Dual Quality of Daily Consumption Products on EU market

Research background: The paper focuses on the issue of dual quality of daily consumption products through the lens of the Z generation. Z generation is a generation of people born between years of 1997-2012, a generation that will become the main purchasing power in a few years. Purpose of the article: The purpose of the research was to explore the possibility whether the information on dual product quality affects the consumer behaviour of members of Z generation and if so, to what extent and at what type of products. Methods: Main method to receive necessary data for analyse was a questionnaire and its statistical evaluation given hypothesis. The research was carried out in the form of a survey consisted of 227 consumers. Findings & Value added: The results show that 85% of them had dual quality information, perceived this issue as a serious problem, and the majority wants to be informed more about this issue. More than half of the Z generation had changed their consumer behaviour as a result of information about the dual quality of goods on market of European Union, especially women with higher education and the Z generation living in rural areas. Research confirmed that the change in behaviour mainly concerns non-food products such as cosmetics and clothing.

Uma década de política europeia de investimento estrangeiro – balanço e perspetivas futuras

Since the Lisbon Treaty, which came into force in 2009, the European Union has been implementing the new competence in the area of foreign direct investment. All European institutions were actively involved in this process. I briefly analyze the role of the Court of Justice of the European Union in this process, establishing the links between Opinion 2/15 (EU/Singapore); Achmea Case and Opinion 1/17 (CETA), explaining why they are relevant in the overall framework of EU Foreign Investment policy, as it stands today, and what measures are needed to have an EU policy that is more coherent and uniformly applicable to all investors in the EU market.

Зовнішньоторговельні відносини України з країнами ЄС: стан, тенденції та пріоритети розвитку

In modern conditions, the involvement degree of any country in the international economic relations is determined to a significant extent by the state of its foreign trade activities. For Ukraine, the European Union is a key trading partner. The signing of the Association Agreement with the EU provided Ukrainian producers with the opportunity to increase their presence in European markets, but at the same time it was accompanied by a number of problems and risks. The main ones are tariff quotas and high technical barriers to entry into the EU market. This study aims to analyze the state and development trends of foreign trade relations between Ukraine and the EU under the conditions of the Association Agreement and the resulting benefits and risks for domestic producers and, on this basis, substantiate the priorities of deepening these relations, taking into account national interests as a prerequisite for increasing the competitive economy of Ukraine. It was found that Ukraine has the potential to enhance export opportunities in general and with the European Union in particular. Amendments to the Association Agreement, the signing of the ACAA Agreement is a necessary institutional framework, a driver that will allow Ukraine to intensify, deepen and diversify its trade activities with the EU countries. It was revealed that raw materials prevail in the structure of Ukraine's merchandise exports to the EU, however, compared to 2013, its share has significantly decreased - by 14.3%. The structure of Ukraine's merchandise imports from the EU is more diversified, it is based on engineering and pharmaceutical products, as well as mineral products, polymer materials and plastics. The share of these products in the total volume of Ukraine's merchandise imports during 2013-2020 remains high and ranges from 54-56 %. Such trends testify to the import dependence of the Ukrainian economy and require an urgent solution. Based on the results of the analysis, it was determined that machinery-producing industries are promising from the point of view of further increasing the export opportunities of Ukraine to the EU. To support and develop them, it is proposed to carry out systematic and systematic measures, taking into account the obligations that Ukraine assumed by signing the Association Agreement with the EU. Special economic zones, science parks, technology parks and clusters are considered as tools to support the export potential of domestic engineering and the economic potential of the national economy. The effectiveness of these structures has been confirmed by numerous studies and successful international experience.

ECO-ECONOMIC DECOUPLING UNDER GREEN DEAL POLICY

This paper summarizes the arguments and counterarguments within the scientific discussion on promoting green transformation in Ukraine under developing green deal policy. The authors noted that established by European Commission, the "European Green Deal" opens a window of opportunities and provides new threats for the Ukrainian economy. The relevance of this scientific problem is that increasing energy efficiency and increasing the share of renewable energy would enhance economic activity and social welfare in Ukraine. Thus, elaborating on green deal policy would provide economic development without additional environmental pressure. Herewith, eco-economic decoupling ensures the growth of Ukrainian business attractiveness on the EU market. The main purpose of the research is to investigate the Ukrainian potential for economic growth while decreasing CO2 emissions. This study involved the bibliometric analysis of high-quality scientific documents published after announcing the communique "European Green Deal" by the European Commission. Thus, the period of publications covered 2019-2021. The study sample consisted of 284 documents published in the scientific journals indexed by the scientometric database Scopus. The search of documents was conducted by the keyword "green deal" in the titles, abstracts, and keywords fields. Therefore, the systematization of the scientific sources indicates that the scientists investigating the green deal policy focused on different aspects regarding environmental policy, energy efficiency, renewable energy sources, and economic decarbonization, decreasing emission under developing low-carbon technologies, etc. The research empirically confirms and theoretically proves that green transformation could enhance the economic growth and expansion into new markets under EU restrictions concerning the eco-friendliness in business activity and production. Besides, the effective green deal policy would increase employability, contribute to the implementation of energy-efficient technologies, boost research and development activity, and increase business performance through the rational use of energy, resources, emission reduction, etc. The results of this research could be considered as the foundation for further research concerning investigating the components of the green deal policy.