Economic convergence in the European integration space in the context of relations between Ukraine and the Visegrad Four

Abstract

The problem of economic convergence of Ukraine is considered as a crucial way of reaching the goal of European integration and membership in the European Union. It takes into account the current economic situation in the country, the main feature of which is a significant lag behind all EU Member States, especially in terms of GDP per capita. The external factor is crucial in the concept because of the inability to singlehandedly accomplish convergence tasks in Europe and in the global space in a reasonable timeframe. The more substantial the changes, the more important the factors related to the development of international economic relations. The author’s proposals concentrate on making economic convergence central in the development of overall convergence. Ukraine has great potential for mutually beneficial cooperation in all spheres with the Visegrad Four because it is a union of neighbouring countries and has gained experience reducing a relatively large economic lag from the «old» EU members. The scope of the investigation is not limited to traditional forms of international cooperation, but is oriented towards new solutions. They are represented by the organizational model «V4 + UA» (Visegrad Four + Ukraine) with the prospect of developing into an enlarged association «Visegrad Five», which will continue to play the role of the internal structure of the European Union, and include a candidate for membership, i.e. Ukraine. Sustainable economic growth of a new group must rely on a unified market, Europe’s greatest advantage, and concentrated structural reforms that can drive the production in the areas of growing demand. The author also admits the possibility of future establishment of confederate government in the model «V4 + UA» in order to use the competitive advantages of large state entities such as Germany, France, Italy, Spain).