According to the Decree of the President of Ukraine «On Some Issues of Representation of Economic Interests of Ukraine Abroad» No.522 of April 8, 2010 Ministry of Foreign Affairs of Ukraine conducted a comprehensive work that resulted in elimination of trade and economic missions and establishment of divisions on economic issues within the Ukrainian diplomatic missions abroad (hereinafter referred to as UDMA).
Basic principles of activities, functions and tasks of these units are defined by the Provisions of Regulation on the divisions on economic issues within the Ukrainian diplomatic missions abroad and Directives for divisions on economic issues within the Ukrainian diplomatic missions abroad.
The optimization of the number of employees in economic sphere of UDMA was carried out. The importance of cooperation development with other states, particularly in economic sphere, was taken into account as well as opportunities for Ukraine to use regulatory, legal and institutional mechanisms of WTO with a view to advocate national interests on bi- and multilateral levels.
Considering the scope of new powers and functions stated in the Regulation for the Ministry of Foreign Affairs of Ukraine approved by the Decree of the President of Ukraine of April 6, 2011 No 381 redistribution of functions in foreign economic direction was held between structure units of the MFA central office.
The above measures resulted in increase of analyticity of documents and economic materials of UDMA, their quality and efficiency in processing of information generalized by the MFA and sent to the Administration of the President of Ukraine, the Cabinet of Ministers of Ukraine and the other executive bodies of Ukraine together with suggestions on appropriate reaction.
Divisions on economic issues provide overview of basic trends on world financial and economic, energy, agriculture, currency markets, measures taken by the governments of other states on import of goods into markets of relevant countries, including goods produced in Ukraine, international experience of regulation of different spheres of economic activity, interaction of public and private sectors in the most important spheres, actions taken by the governments of other states towards the challenges of the world economic, financial and trade systems.
Thereby the integrity of the state’s foreign policy was reached, efficient system of implementation of public policy in ensuring national economic interests on the world market was established in full compliance with current trends in international relations.