TRADE AND COMPETITIVE COOPERATION OF THE EU WITH THE MAJOR INTERNATIONAL INTEGRATION GROUPINGS

Abstract

The article examines the current interaction, convergence and the state of formalization of trade and competitive cooperation between the largest international integration groupings,namely, negotiating the free trade area between them and determining the possible prospects for the development of transregional integration. The aim of the study is to analyze the main trends of free trade zones and agreements between the European Union (EU),United States-Mexico-Canada Agreement (USMCA), Association of Southeast Asian Nations(ASEAN), South American economic organization(MERCOSUR),the impact of transregional integration on trade and investment activities of Member States and integration groupings in general. The analysis of current trends has indicated the strengthening of the momentum of the negotiations on free trade zones between international integration groupings and the establishment of the major global trend:the number and types of agreements on trade and economic cooperation not only between countries, but also between interstate integration groupings are growing, new free trade zones are being announced, and the range of concepts regarding competitive advantages is being extended.It has been determined that trade and competitive interaction of the global economy creates a stable platform for building up both economic and competitive force,which leads to global economic development and enhanceshypercompetition. It has been proved that trade and competitive convergence of interstate integration groupings leads to new forms and mechanisms of activitiesorganization and as a result, the prospects for the consolidation of free trade zones are emerging.Thus, the competitive position of international integration associations in the global economy is being strengthened due to active development of economic and trade cooperation,not only within the grouping of Member States, but also in the parallel process of interaction with non-Member States and with international integration groupings.