Series: Analytical Articles.
Author: M.ª Jesús González, Esther Gordo and Marta Manrique.
Topics: Economic situation | Spain | European Union | International Economy | Structural analysis.
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Abstract
Against an international background of low tariff barriers, the EU’s trade policy has shifted towards attaining bilateral trade agreements that promote the reduction both of non-tariff barriers and of those regulatory barriers that restrict the movement of goods, services, individuals and investment flows, in addition to including provisions relating to the environment, labour markets and intellectual property rights. An example of these “new-generation” agreements is the Comprehensive Economic and Trade Agreement (CETA) recently negotiated by the EU and Canada, which is in the process of being ratified by the national parliaments.The article describes the general characteristics of new-generation trade agreements, the difficulties posed by their regulatory and wide-ranging nature, and how the CETA has attempted to respond to some of the issues that have proven most controversial for public opinion. The significance of this agreement pertains not only to the economic impact it will have on the European and Canadian economies, but also to how it could act as a model for other agreements with developed countries, including that which the EU and the United Kingdom have to negotiate.