THE DIGITALISATION OF STATE REGULATION AND OVERSIGHT OF FEA: UKRAINE VS THE EU

Abstract

The subject of this study is the digitalisation of state regulation and control of foreign economic activity in Ukraine within the European Union. This study aims to identify the characteristics of digitalisation processes in this area of state regulation and control, and to compare them with the European Union’s experience. To this end, methods such as hermeneutic, legal-technical, comparative and systems analysis were employed. It has been established that foreign economic activity is a key component of state economic policy. This is because it enables the state to generate budget revenue through export and import trade, and to provide the population with necessary goods, works, and services. The key factors underpinning the need to introduce digital technologies into the regulation of international economic activity have been identified. These include optimising state regulation, enhancing oversight of trade procedures, increasing budget revenues, creating platforms for close co-operation between participants in foreign economic relations and improving the state's image on the international stage. The study has shown that the lack of harmonisation between Ukrainian and European Union regulations in international trade restricts businesses from carrying out export and import operations effectively on a large scale. Consequently, aligning this system of relations with a single digital standard would have a positive impact on the development of such economic relations. The article emphasises that the proper use of digital technologies in foreign economic activity must be underpinned by legislation. However, it concludes that the digitalisation of this sector cannot be fully encompassed, particularly given the rapid progress in the application of innovative digital technologies. The practical impact of digitalisation on the regulation of foreign economic activity, and the resulting outcomes, have been examined using the example of the customs regulation of goods, works and services exported, imported or transited between Ukraine and the European Union. Significant progress has been made in this area, particularly through the development and use of the ‘Single Window for International Trade’ single state information web portal, and participation in the European digital transit system (the New Computerised Transit System, or NCTS).