Economic integration has considerably gained in its importance over the last fifty years and the economic success of groups such as the EU, NAFTA or ASEAN attest to this. Integration processes play today a significant role in the creation and development of high-quality, adaptive economic systems that could be then easily integrated into the global system of the division of labor at all its levels. Therefore, expansion of cooperation between countries is one of the major trends in international economic development. This, in turn, helps to improve and ensure high rates of economic growth, which positively affects the use of scientific and technological progress in improving the functioning of each individual entity to the world community, state, region or industry entities. In this book using the example of Ukraine we try to analyze whether processes of economic cooperation and integration could be successful and effective in the post-Soviet space. The author states that although Ukraine has strong historical ties with Russia and has some newly establish trade relations with the EU, it should try to diversify the list of its main trade partners and create the conditions for sustainable growth. The possibilities include a customs union, cooperation agreements in the production sphere or some other ways of economic integration.