The present paper is dedicated to the essence and pecularities of transit development in Ukraine, to the identification of factors which are hindering the atrraction of additional transit amount as well as to the formulation of conceptual directions on improving of legal regulation of relations concerning the implementation of Ukraine’s transit potential. REFERENCES1. The Verkhovna Rada of Ukraine (2008), The Law of Ukraine "On ratification of the Memorandum of Understanding concerning the coordinated development of the Black Sea Ring Highway", Vidomosti Verkhovnoi Rady Ukrainy, Vol. 49, p. 360.2. Bludova T.V., Manzhos T.V. and Cherevko D.R. (2009), Znakhodzhennia sfery dopustymoho ryzyku rehional’nykh eksportno-importnykh operatsij [Finding areas of risk accepted in regional export-import operations], KNEU, Kyiv, Ukraine.3. Heiets’ V.M., Kyzym M.O., Lebanova T.S., Cherniak O.I., Bazhenova O.V. 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