EU trade policy under current conditions
Journal Title: Вісник Маріупольського державного університету.Серія: Економіка - Year 2015, Vol 10, Issue
Abstract
The present paper argues that the processes of European integration have reached the highest level of the development compared to other evolving regional integration processes in the world economy, and the current EU economy is one of the most open in the world. The article shows that EU trade policy is an integral part of the EU Sustainable Development Strategy and is aimed at raising international competitiveness of the association. The expansion of a free trade mechanism is of a great importance especially in terms of economic growth and job creation. The article determines that the single market deepening, spread of investments in important areas such as research, education and energetics as well as the development of free trade are the key inciters of European economy. The new strategy aimed at improving the efficiency of trade agreements and providing more opportunities for all market actors, practically helps in creating jobs in European countries. Trade liberalization creates additional opportunities for the development of innovative activities and labor productivity growth, thus there are new opportunities for the growth of the competitiveness of goods and services; lower prices and high-quality goods attract consumers. Current EU trade policy covers not only conditions of commodity trade in a traditional sense. Intellectual property rights, direct purchases abroad, public purchases, taxes, standards, environmental issues, migration etc. are the important parts of the agreements on the establishment of free trade zones. The EU as a global leader in a high-quality goods market is the world's biggest exporter of manufactured goods with the lowest level of import tariffs on industrial goods. Export and import capabilities and other conditions of economic relations are regulated by bilateral and multilateral agreements made with EU trading partners. The expansion of the measures designed to support sustainable development, ensure fair trade and human rights observance are gaining in importance. The determination of the rules of corruption control in future trade agreements is deliberate. Based on the main qualitative characteristics, commonly found in the current EU trade policy, the author gives grounds for the main ways of a trade policy review concerning the global chain of value creation, digital and creative economy; the support of the professionals’, senior managers’ and service providers’ mobility; the expansion of the partnerships with all countries concerned, on the implementation of trading and investment relations; the establishment of appropriate conditions for SME (Small and Medium Enterprise) development. The EU is actively spreading the practice of making regional trade agreements involving in this process not only highly developed countries. The EU carries out pretty severe policy of regionalism, considering it as the way of attracting investment and promoting competition, aiming at strengthening multilateral mechanism for regulating trade relations globally.
Authors and Affiliations
Illia Chentukov
Keywords
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- EP ID EP240604
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