«Global Europe»: An Initial Assessment of the European Commission’s New Trade Policy
Simon J. Evenett
The principal elements of the European Commission’s recent Communication on its external trade policy (titled “Global Europe”) are assessed in this paper. Certain shifts are discernible in the Commission's position, in particular as they relate to the prominence given to market access objectives and to bilateral and regional trade agreements. Even so, this latest Communication is probably best thought of as an evolution in the Commission's trade policy and not an abrupt break with the past. Particular attention is given here to the potential payoffs from the proposed bilateral trade negotiations with selected Asian nations and the need for further thinking on the Commission's part with respect to the multilateral trading system.
Global Europe: Old Mercantilist Wine in New Bottles?
This paper analyses the European Commission’s Communication Global Europe and attempts to demonstrate that the substance behind the shift in emphasis towards bilateral trade policy is an extension of existing EU bilateral trade policy; that the shift is not convincingly justified by the analysis in the EU Commission papers; that the shift might be best thought of as an attempt to re-energise corporate sector support for trade liberalisation in the face of the suspension of the Doha Development Agenda and a weakening of political support for trade liberalisation.
The European Commission’s Communication on External Policy: A U.S. Perspective
This essay will present the views of a US observer on the politics and substance of the European Commission's proposed new policies toward bilateral and regional trade agreements. It will contrast both the rationale advanced by the Commission and the underlying politics surrounding FTAs with the situations in the United States, particularly the record of the BUSH administration “Competitive Liberalisation” policy. It will also describe additional political and security considerations that form the basis for US regional trade policy. Finally, it will advance tentative predictions for the FTA policy in the future.
The EU’s New Trade Strategy and Regionalisation in the World Economy
P. J. Lloyd and Donald MacLaren
The “new generation of Free Trade Agreements” announced by the Commission of the European Community signals an intention to substantially extend the geographic coverage of its reciprocal, preferential trade agreements. We review the development of regionalism in East Asia by listing the existing bilaterals and those under negotiation and conclude that the EC’s initiative will have minimal effect in this region. However, globally, there are two super-hubs, namely the EC and the US, each with its network of spokes and associated rules. They are likely to compete to design any new multilateral rules which are WTO-plus.
The EU New Trade Policy and the Perspectives for a EU-Mercosur Agreement
André Filipe Zago de Azevedo and RenatoAntônio Henz
This article aims to address the European Union’s new trade policy, expressed by the European Commission Communication “Global Europe: Competing in the World”, and the ongoing negotiations to form the EU-Mercosur FTA. The Communication selected Mercosur as a priority, based on two economic criteria: The market potential and the level of protection againstEU exports. Mercosur also considers such an agreement as a top priority in its agenda since it already has the EU as its main trade partner and faces many tariff and non-tariff barriers to its exports to the bloc. However, the ongoing negotiations among the two blocs that began in 1999 are still far from conclusion..
Russia’s Relations with the EU after WTOAccession
Russia’s accession to the WTO next year will set the stage for a more active dialogue with the EU on deeper integration and trade liberalisation. In this respect the formation of a FTA with the EU is a necessary, but not a sufficient condition for engaging Russia into an active dialogue on a broad range of political and economic issues. Other modalities of trade liberalisation, including regional cooperation and greater openness to investment would also need to be addressed. The delays in drawing up a new comprehensive framework of EU-Russia cooperation come at a time when the need for a renewed framework is greater than ever, which calls for the speedy launching of talks on the creation of a new comprehensive PCA in the near future.
Observations on the Intellectual Property Component of the European Commission’s New Trade Policy
Der Artikel beschreibt und analysiert die Elemente der Rechte des geistigen Eigentums in der kürzlich angekündigten neuen EU Handelspolitik, welche in Zukunft im globalen Handel durchsetzungsfähiger sein soll. Der Schwerpunkt der neuen Handelsstrategie liegt auf der Verstärkung der globalen Harmonisierung, der Einführung von stärkeren Standards in bilateralen Freihandelsabkommen und der verstärkten Durchsetzung der Rechte in den wichtigsten Entwicklungsländern. Diese Strategie stimmt grösstenteils überein mit der Art und Weise, wie die Rechte des geistigen Eigentums in der globalen und bilateralen Handelspolitik der USA gewichtet werden, deren Bilanz jedoch unterschiedlich ausfällt. Aus dieser Bilanz werden Schlüsse gezogen, um die möglichen Gewinne und Probleme zu erläutern, die in der neuen EU Handelspolitik auftreten könnten.