The Ministry is part of the system of executive bodies and is the main body in the system of central executive bodies for the formation and implementation of state policy of economic and social development, price, industrial, investment, foreign economic policy, state policy in trade, state regional policy, state policy on issues of business development, technical regulation (standardization, metrology, certification, quality management) and consumer protection, as well as interdepartmental coordination on economic and social cooperation of Ukraine with the European Union.