Issue: № 10, 2024
Doi: https://doi.org/10.37634/efp.2024.10.11
Introduction. Since the moment martial law was announced across Ukraine, the country's foreign trade has experienced significant changes. The full-scale invasion has not only resulted in the loss of human resources, the destruction of infrastructure and trade ties, but also damaged industrial facilities. Taking into account all the damage caused by the enemy, the instability of the economic environment creates significant external risks to sustainable economic progress. Therefore, state support in the foreign economic sphere is an extremely important factor for the development of international activities. The purpose of the paper is to analyze the experience of European countries in the field of state regulation and foreign economic activity, as well as to identify potential opportunities for its adoption and application in Ukraine. Results. The most effective way to stimulate foreign trade is to use financial instruments, such as tax incentives, credit facilitation and subsidies, and simplification of export and import procedures. This is especially common among countries with rapidly developing markets that have image problems when attracting foreign investment or entering the markets of developed countries. Despite the significant challenges posed by the ongoing war, Ukraine has already seen significant changes in its trade policy, foreign trade and business entry. There is also an active development of the innovation sector, particularly in information technology, artificial intelligence, and cybersecurity. This is attracting the attention of technology companies and startups from around the world, who are looking for new opportunities to collaborate and develop their ideas. Conclusion. Analyzing how European countries implement trade policy, we can note the importance of stable and secure foreign economic relations. The war in Ukraine has only emphasized the benefits of liberalization and openness of international trade, which allows for quick adaptation to changes and ensures significant economic development.
Keywords : foreign economic activity, international relations, foreign trade, martial law, state support, financial instruments
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