ECONOMIC INTEGRATION AND COOPERATION IN THE CONDITIONS OF GLOBALIZATION

Abstract

Modern integration processes are taking place in the context of a profound transformation of the global economy, where globalization and regionalization complement each other. Since the potential for reducing tariff barriers has been exhausted, it is important to eliminate non-tariff restrictions and harmonize domestic economic policies. An important aspect is the change in the formats of international economic interaction, which is caused by difficulties in implementing free trade rules and increased protectionist measures. The purpose of the study is to analyze economic integration and cooperation in the context of globalization, in particular, to study the key challenges and prospects for the development of integration processes. It is proved that modern international economic integration is characterized by the growing role of non-tariff measures, the expansion of trade blocs and the emergence of new mixed formats of cooperation. The impact of regionalization contributes to the growth of international trade and economic convergence, as the reduction of non-tariff barriers and the formation of open trade blocs contribute to economic growth and reduce the likelihood of armed conflict. At the same time, international integration faces threats, including disintegration trends in the world’s major economies, which could lead to large-scale trade conflicts and weaken the functions of multilateral regulatory mechanisms. The importance of the WTO in ensuring trade and economic liberalization and resolving disputes between countries remains key to the stability of international trade, despite the existing challenges. An important aspect is Ukraine’s prospects in the context of integration into the European market, where it is necessary to reform the judicial system, fight corruption, reduce administrative pressure on business, improve the VAT refund mechanism and create incentives for self-employment in order to successfully adapt to European standards. Modern integration processes are characterized by the emergence of new mixed formats of economic interaction that complement traditional models of regional and global integration. However, integration faces challenges, including the fragmentation of the global economic space, growing protectionism, and uneven economic development. European integration offers significant opportunities for Ukraine, but its effectiveness depends on domestic reforms and adaptation to international standards. Further development of integration processes will require a balance between market openness and protection of national economic interests.