Trade-economic cooperation of Ukraine and China within COVID-19 Pandemic and in post-pandemic time

¹ Kyiv National Economic University named after Vadym Hetman, Department of International Trade and Marketing, 54/1 Peremohy Avenue, Kyiv, Ukraine, 03057
² Polissia National University, Department of International Economic Relations and European Integration, 7 Staryi Boulevard, Zhytomyr, Ukraine, 10002
³ Zhytomyr Institute IAPM, Department of management and administration department, 26 Peremohy Street, Zhytomyr, Ukraine, 10002
⁴ Kyiv National Economic University named after Vadym Hetman, Institute for Contemporary China Studies named after Borys Kurts, 54/1 Peremohy Avenue, Kyiv, Ukraine, 03057

^* Corresponding author: yacenkoolgakneu@gmail.com

Abstract

Modern trends of trade-economic relations of the countries within the COVID-19 pandemic have been systemized in the development of mutual relations in particular economy sectors have been identified. Direct connection between the increase of export volume to China and Ukraine GDP growth has been established in the study based on the correlation-regression analysis. Weaknesses and strengths as well as opportunities and threats of mutual relations within the pandemic have been defined. The influence of the world crisis, creating a free trade area, and other factors on foreign trade circulation between Ukraine and China have been studied with the tools of empirical gravity model of international trade. Foreign trade circulation up until 2022 with and without creating a Free Trade Area has been forecast based on the modelled data. Perspective directions of trade-economic relations have been defined; the strategy of extending the trade-economic integration of Ukraine and China within the COVID-19 pandemic and in post-pandemic time within customs tariffs liberalization, intensification of symmetric interdependence and complementarity between the countries, within creating a free trade area, diversifying trade turnovers, overcoming the pandemic, reduction of crisis consequences, and strengthening cooperation in new industries of post-pandemic time has been grounded.