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The EU - Japan Economic Partnership Agreement

28-09-2018

This report independently assesses the EU-Japan Economic Partnership Agreement. We find that the EPA establishes an ambitious framework to further liberalise and better organise trade, covering goods, services, intellectual property and investment, tariff- and non-tariff measures, and regulatory cooperation. Given its depth and breadth, and that it is unprecedented in including provisions on corporate governance, SMEs, and climate change, the EPA is set to become a benchmark for future trade agreements ...

This report independently assesses the EU-Japan Economic Partnership Agreement. We find that the EPA establishes an ambitious framework to further liberalise and better organise trade, covering goods, services, intellectual property and investment, tariff- and non-tariff measures, and regulatory cooperation. Given its depth and breadth, and that it is unprecedented in including provisions on corporate governance, SMEs, and climate change, the EPA is set to become a benchmark for future trade agreements. Joining two open economies with high income levels and regulatory standards, the agreement is expected to generate benefits by boosting trade within sectors, minimising sectoral relocation and negative employment effects. Agri-food, textiles and leather products are where the EU can expect to make the greatest gains. Furthermore, the EPA will boost the EU’s economic presence and political relevance in the Asia-Pacific area. Going beyond its economic benefits, the agreement also has significant non-economic implications. Reinforced cooperation will enhance the ability of both parties to shape the course of global developments in a manner that better reflects their shared interests and values, such as their commitment to a rule-based global trade system and the fight against global warming.

Külső szerző

Sonali CHOWDHRY, Marie Curie Visiting Fellow; André SAPIR, Senior Fellow; Alessio TERZI, Affiliate Fellow

The future of sustainable development chapters in EU free trade agreements

23-07-2018

Sustainable development is an important part of the EU trade policy since it gets on meeting the needs of the present whilst ensuring future generations can meet their own needs. All EU FTAs include a Trade and Sustainable Development (TSD) chapter, which seeks to ensure that partners follow international requirements in the three pillars that compose sustainable development: economic, environmental and social. The adoption of the UN Agenda 2030 in 2015, which sets 17 Sustainable Development Goals ...

Sustainable development is an important part of the EU trade policy since it gets on meeting the needs of the present whilst ensuring future generations can meet their own needs. All EU FTAs include a Trade and Sustainable Development (TSD) chapter, which seeks to ensure that partners follow international requirements in the three pillars that compose sustainable development: economic, environmental and social. The adoption of the UN Agenda 2030 in 2015, which sets 17 Sustainable Development Goals and 169 targets, and the 2015 Paris agreement on climate change, have pushed the Commission to review its TSD chapter and to table a new proposal, identifying 15 action points drawn from the large debate with member states, the European Parliament as well as the civil society launched eight months before. In order to feed the forthcoming debates within the European Union institutions, academic experts in the three dimensions of the sustainable development as well as representatives of the European Union institutions have been invited to the workshop to share their views, not only on the binding aspect of TSD provisions, but also on how various European Union policies can be worked together to achieve the best results.

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Mr Damian RAESS Ms Evita SCHMIEG Mr Tancrède VOITURIEZ

How to include ’Mode 5’ services commitments in bilateral free trade agreements and at multilateral stage?

11-07-2018

Mode 5 refers to services which are incorporated into goods which are then traded across international borders. Unlike traditional services, Mode 5 services are not subject to the existing international trade regime under the WTO General Agreement on Trade in Services (GATS). Rather, they are subject to trade rules under the framework that governs trade in goods. As a consequence, trade in Mode 5 services is not fully liberalised, even though liberalisation would be in the best interest of international ...

Mode 5 refers to services which are incorporated into goods which are then traded across international borders. Unlike traditional services, Mode 5 services are not subject to the existing international trade regime under the WTO General Agreement on Trade in Services (GATS). Rather, they are subject to trade rules under the framework that governs trade in goods. As a consequence, trade in Mode 5 services is not fully liberalised, even though liberalisation would be in the best interest of international trade and the European Union. This report explores different avenues for including Mode 5 service commitments in multilateral trade agreements and free trade agreements, analyzing benefits and associated challenges. The broad conclusion is that while it may be possible to pursue Mode 5 options at the multilateral level, the most viable immediate strategy would consist in including such commitments in free trade agreements between the EU and its trading partners.

Külső szerző

Ms Marina FOLTEA

Free Trade Agreement between the EU and the Republic of Singapore – Analysis

16-03-2018

This study analyses provisions of the EU-Singapore Free Trade Agreement concluded in May 2015 ('EUSFTA'). It compares EUSFTA with other 'new-generation' free trade agreements, such as the EU-Republic of Korea and the EU-Canada Comprehensive Economic and Trade Agreement. Overall, EUSFTA adopts a WTO+ approach and as a result significantly liberalises trade between the EU and Singapore compared to the current trade relationship. The study finds that a number of tariff and non-tariff barriers to trade ...

This study analyses provisions of the EU-Singapore Free Trade Agreement concluded in May 2015 ('EUSFTA'). It compares EUSFTA with other 'new-generation' free trade agreements, such as the EU-Republic of Korea and the EU-Canada Comprehensive Economic and Trade Agreement. Overall, EUSFTA adopts a WTO+ approach and as a result significantly liberalises trade between the EU and Singapore compared to the current trade relationship. The study finds that a number of tariff and non-tariff barriers to trade in goods and services that currently exist between the parties will be reduced or removed on EUSFTA's entry into force. EUSFTA, as with other 'new-generation' FTAs negotiated by the EU, adopts a comprehensive approach, and contains innovative provisions on investment, intellectual property rights, competition and public procurement. It also contains provisions which reflect growing concerns about the impact of global trade, such as those on trade and sustainable development. With regard to EUSFTA's potential impact on trade, the economic modelling estimates an increase of around 10 % in trade volumes and greater volumes of foreign direct investment between the EU and Singapore as a result of the agreement. It also concludes that EUSFTA should lead to small increases of the gross domestic products of the EU and Singapore (0.06 % and 0.35 %, respectively). The responses of a wide-range of EU and Singaporean stakeholder consultation reveal that, in general, EUSFTA is viewed positively and is considered a very ambitious agreement, which will offer new opportunities for trade and investment in the EU and Singapore. However, some concerns have been raised, especially by small and medium-sized enterprises. The implications of the result of the Opinion of the Court of Justice of the EU in case 2/15 of 2017, on whether the EU had exclusive competence to sign and conclude EUSFTA alone, is also analysed in detail. The study recommends, notably, monitoring closely that commitments taken under sustainable development provisions are implemented and used effectively in practice.

Külső szerző

Glyn CHAMBERS, Managing Economist Capital Economics, Melanie DEBONO, Economist Capital Economics, Costas FRANGESKIDES, Partner Holman Fenwick Wilan, Jody GALLAGHER, Trainee Solicitor Holman Fenwick Willan, Dr Peter HOLMES, Reader in Economics at Sussex University (project leader), Jeremy KELLY, Associate Holman Fenwick Willan, Eirini ROUSSOU, Senior Associate Holman Fenwick Willan, Cliff STEVENSON, Cliff Stevenson Consulting, Anthony WOOLICH, Partner Holman Fenwick Willan

Future trade relations between the EU and the UK: Options after Brexit

16-03-2018

This study analyses the various options for the future trade relations between the EU and the UK, after Brexit. It examines the various models against the canvas of two distinct paradigms: market integration and trade liberalization. It finds that an intermediate model, which would allow for continued convergence and mutual recognition in some sectors/freedoms, but not others, is unavailable and cannot easily be constructed for legal, institutional, and political reasons. The stark choice is between ...

This study analyses the various options for the future trade relations between the EU and the UK, after Brexit. It examines the various models against the canvas of two distinct paradigms: market integration and trade liberalization. It finds that an intermediate model, which would allow for continued convergence and mutual recognition in some sectors/freedoms, but not others, is unavailable and cannot easily be constructed for legal, institutional, and political reasons. The stark choice is between a customs union/free trade agreement, or continued internal market membership through the EEA or an equivalent agreement. The study further analyses the effects of Brexit on the UK’s continued participation in the trade agreements concluded by the EU. Notwithstanding a range of complexities, the study finds that such continued participation is not automatic but subject to negotiation.

Külső szerző

Piet Eeckhout

The impact of the Common Agricultural Policy on developing countries

22-02-2018

Being the biggest world agri-food importer and exporter, the European Union plays an important role in international agricultural markets. The Common Agricultural Policy (CAP) has considerable influence on international agri-food market. With the CAP 2014-2020, the distortive effect of the policy have been dramatically reduced. However, voluntary coupled support are a matter of concern. Following the 20142020 CAP, Member States may grant voluntary coupled support (VCS) to specific sectors undergoing ...

Being the biggest world agri-food importer and exporter, the European Union plays an important role in international agricultural markets. The Common Agricultural Policy (CAP) has considerable influence on international agri-food market. With the CAP 2014-2020, the distortive effect of the policy have been dramatically reduced. However, voluntary coupled support are a matter of concern. Following the 20142020 CAP, Member States may grant voluntary coupled support (VCS) to specific sectors undergoing difficulties. All Member States expects Germany have opted to apply VCs in some sectors and this generated market distortions both in the internal and in the international marketplace. Another feature of the 2014-2020 CAP is its competitive -oriented approach. Increased competition can boost agricultural development of non -EU countries but can also imply risks for sustainable development and food security. Growing demand supported by the CAP can also have a negative environmental impact. Therefore there are concerns about the coherence of the CAP support with environmental and climate objectives. Although the 2014-2020 CAP made progress towards ensuring policy coherence, more has to be made in the future CAP reform, particularly with reference to international commitment on climate change. Market distorting effects of some CAP instruments shall also be reconsidered.

Külső szerző

Maria BLANCO, Professor Agricultural Economics, Universidad Politécnica de Madrid, Spain

Common rules for certain types of combined transport of goods

11-01-2018

This note seeks to provide an initial analysis of the strengths and weaknesses of the European Commission's impact assessment (IA) accompanying the above proposal, submitted on 8 November 2017 and referred to Parliament’s Committee on Transport and Tourism. The proposal aims to amend Directive 92/106/EEC (Combined Transport Directive, hereafter CTD) in order to improve its effectiveness and further enhance the shift towards intermodal transport, in particular combined transport, as an alternative ...

This note seeks to provide an initial analysis of the strengths and weaknesses of the European Commission's impact assessment (IA) accompanying the above proposal, submitted on 8 November 2017 and referred to Parliament’s Committee on Transport and Tourism. The proposal aims to amend Directive 92/106/EEC (Combined Transport Directive, hereafter CTD) in order to improve its effectiveness and further enhance the shift towards intermodal transport, in particular combined transport, as an alternative to road transport, through simpler use of the regulatory regime and greater effectiveness of economic support measures. Intermodal transport largely uses modes of transport – such as rail, inland waterways and maritime transport – that cause less negative externalities (emissions, noise and accidents). While aiming at the specific target for modal shift defined in the European Commission's 2011 White Paper on a Single European Transport Area, the proposal is expected to reduce the negative effects of transport activities (IA, p. 39). The proposal, which is a REFIT initiative and part of the 2017 Commission work programme, aims at more sustainable and efficient freight transport and is in line with the low-emission mobility strategy, the United Nations' 2030 Agenda on Sustainable Development and the Paris Agreement on climate change (IA, p. 39). The European Parliament has supported multimodality and intermodality in transport in a number of resolutions.

Finalisation of Basel III post-crisis reforms

12-12-2017

This note is mainly based on documents published by the Basel Committee on Banking Supervision (BCBS) on 7 December 2017 under the header Finalising Basel III post-crisis reforms, namely the High-level summary of Basel III reforms and the full text of the reforms. EGOV has previously published a briefing specifically on the role of the BCBS.

This note is mainly based on documents published by the Basel Committee on Banking Supervision (BCBS) on 7 December 2017 under the header Finalising Basel III post-crisis reforms, namely the High-level summary of Basel III reforms and the full text of the reforms. EGOV has previously published a briefing specifically on the role of the BCBS.

Trade and Economic relations between the EU and the GCC countries

06-12-2017

The EU and the six member countries of the GCC have started negotiations for an FTA long ago, in 1990, suspended since 2008. Meanwhile, GCC countries, suffering from the drop in oil price since mid-2014, have engaged in extremely ambitious economic programmes for the diversification of their economies too dependent on hydrocarbons. Within the institutional economic dialogue set between the EU and the GCC countries, the European parliament offered its diplomacy to organise this conference in order ...

The EU and the six member countries of the GCC have started negotiations for an FTA long ago, in 1990, suspended since 2008. Meanwhile, GCC countries, suffering from the drop in oil price since mid-2014, have engaged in extremely ambitious economic programmes for the diversification of their economies too dependent on hydrocarbons. Within the institutional economic dialogue set between the EU and the GCC countries, the European parliament offered its diplomacy to organise this conference in order to bring EU businesses closer to GCC institutional. Academic speakers, EU and GCC institutional as much as EU experienced companies praised for partnership instead of competition. This workshop opens the door to further initiatives of economic diplomacy by the European parliament.

Külső szerző

Oliver CORNOCK, Managing Editor for the Middle East at the Oxford Business Group, UK. Dr Jean-François SEZNEC, Professor for the Middle East and Gulf region at Georgetown and SAIS Universities in Washington, US.

What next after the US withdrawal from the TPP? What are the options for trade relations in the Pacific and what will be the impact on the EU?

27-11-2017

The Trans-Pacific Partnership was a landmark trade agreement signed by 12 Pacific Rim countries including the US on 4 February 2016. TPP had commercial as well as geopolitical significance for the Obama administration and was a key component of the former president´s so-called “pivot” to Asia. On his first full day in office, on 24 January 2017, President Trump pulled the US out of TPP leaving the other 11 signatories to grapple with the consequences. They have since vowed to move forward even without ...

The Trans-Pacific Partnership was a landmark trade agreement signed by 12 Pacific Rim countries including the US on 4 February 2016. TPP had commercial as well as geopolitical significance for the Obama administration and was a key component of the former president´s so-called “pivot” to Asia. On his first full day in office, on 24 January 2017, President Trump pulled the US out of TPP leaving the other 11 signatories to grapple with the consequences. They have since vowed to move forward even without US participation, reviewing the existing clauses and rebranding the regional agreement under the name of Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP). Negotiations on the CPTPP will continue in 2018. The European Parliament has requested three experts from the EU, US and Asia to consider the implications of the US withdrawal from the TPP and draw conclusions on how the EU should position itself in this high-growth and geopolitically-strategic area. The findings were presented during a Workshop organised by the Policy Department for the International Trade Committee on 8 November 2017 in Brussels.

Külső szerző

Peter CHASE, Pasha L. HSIEH, Bart KERREMANS

Következő események

20-11-2019
Europe's Future: Where next for EU institutional Reform?
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