The impact of globalization on the transformation of foreign trade relations of Ukraine

The paper focuses on the main peculiarities of the current state of the trade and economic relations of Ukraine, caused by the global crisis of 2007-2010, the global economic processes, and the geopolitical changes that occurred in the period from 2014 to 2016. On the basis of the in-depth analysis of official statistics data, the reasons of Ukraine's foreign trade activity resulting in the positive balance of trade in goods that has been achieved for the first time since 2005, have been revealed. The transformations in the directions of the major trade flows and the changes in the commodity composition of foreign trade have been described. The author considers the possibility of promoting the Ukrainian high-tech products on the new markets of the countries of Asia and Africa in order to compensate for the lost markets and to capture the new promising markets in the conditions of the gradual shift of the centre of global economic activity to the Asia-Pacific region. Implementation of the effective mechanisms of the state regulatory policy in the foreign trade in the system of the modern global economy and the reasonability of maintaining the state control over foreign trade operations in Ukraine have been grounded.