Free Trade Zone And Their Role In Economic Development (Comparative Analysis Of The Ukrainian And Jordanian Experience)

This article is devoted to a comparative analysis of the functioning of special economic zones in Aqaba, Hashemite Kingdom of Jordan, and Ukraine. The work gives the concept and classification of the Free trade zones (FTZ), reflects the goals of creating zones and their purpose. The main goal of the work is to study the features of FTZs in Jordan and Ukraine and determine what experience Ukraine can gain from Jordan to optimize the work of the Ukrainian FTZs. During the research we grounded that Ukraine has essential resource opportunities, such as: natural resources, working capital, and geographical location compared to Jordan, which despite of all the obstacles could implement ASEZ and gradually improve its economy. Jordanian experience proves that the desire of a strong Leader and his loyal team, despite of the concentration of hot points all around the borders, unstable political relationship with its neighbors, high refugees inflow definitely led to the deterioration of economic situation in the country. A large stock of foreign debt, insufficient supplies of water, oil, and other natural resources, high level of unemployment – succeeded in its effective implementation of ASEZ and overcame all the severities. Thus, hopefully this research might inspire the Ukrainian leaders to promote the development of Ukrainian FTZs in order to prosper our economy and improve the standard of living.