In the Doha Round, the EU aims to improve the conditions for global trade in goods and services by reducing import duties, removing non-tariff barriers as much as possible and improving commitments to freer trade in services. The following video explains and compares in more detail the different types of trade agreements: in the final phase, after approval by the European Parliament, the Council adopts the decision to conclude the agreement. Eu trade policy is also used as a tool to promote European principles and values, from democracy and human rights to environmental and social rights. The European Commission is working closely with Member States and industry as part of the Market Access Strategy to ensure that the trade opportunities created by multilateral and bilateral negotiations translate into genuine market access for European exporters. It consists of two instruments: the EU manages trade relations with third countries in the form of trade agreements. They are designed to create better business opportunities and overcome the associated obstacles. For two economies of this size with such a high volume of trade, the EU and the US inevitably face a series of trade disputes settled through the WTO dispute settlement mechanism. The European Union and the United States have the largest bilateral trade and investment relations and the most integrated economic relations in the world. The European Commission has asked the Council to give the green light to negotiations on a new plurilateral agreement on trade in services. Initially, 21 WTO members sit at the negotiating table, but the EU is keen to encourage other countries to join. The EU is also pushing for the agreement to be aligned with WTO rules so that it can then be integrated into the WTO system.
The European Commission reports annually on the implementation of its main trade agreements during the previous calendar year. According to the European Commission, the TRIMs would replace the bilateral investment judicial systems involved in EU trade and investment agreements. The Council has a crucial role to play in drawing up a new trade agreement. Between 1999 and 2010, the EU`s external trade doubled and now accounts for more than 30% of the EU`s gross domestic product (GDP). The EU is responsible for the trade policy of the Member States and negotiates these agreements. With one voice, the EU has more weight in international trade negotiations than any individual member. Deep trade agreements are an important institutional infrastructure for regional integration. They reduce trade costs and set many of the rules by which economies work. If made effective, they can improve political cooperation between countries, thereby increasing international trade and investment, economic growth and social prosperity. World Bank Group research shows that trade agreements are generally very complex, as they are legal texts that cover a wide range of activities, from agriculture to intellectual property. But they share a set of basic principles. A number of bilateral trade agreements between the EU included significant liberalisation of trade in goods, as well as provisions on non-tariff barriers and trade in services.
For example, the EU supports and defends EU industry and the economy by working to remove barriers to trade so that European exporters benefit from a level playing field and access to other markets. At the same time, the EU supports foreign companies by providing them with practical information on access to the EU market. The EU is also working with the World Trade Organisation (WTO) to help establish global trade rules and remove barriers to trade between WTO members. Trade agreements differ according to their content: ongoing trade negotiation processes between the EU and third countries include: The EU also concludes non-preferential trade agreements under broader agreements such as Partnership and Cooperation Agreements (PCAs). According to the WTO, the promise not to erect a trade barrier can be just as important as the removal of a trade barrier, as if it offered predictability to businesses. This will encourage investment, create jobs and allow consumers to take full advantage of competition – choice and lower prices. Although the WTO is commonly referred to as a „free trade institution“, it sometimes allows tariffs and, in certain circumstances, other forms of protection. More specifically, it promotes a system of rules dedicated to open and fair competition.
In cooperation with partners such as the WTO and the OECD, the World Bank Group informs and supports client countries wishing to sign or deepen regional trade agreements. Specifically, the World Bank Group`s work includes: Document Search Online General documents on regional trade agreements are coded as WT/REG/*. As part of the doha trade negotiation mandate, they use TN/RL/* (where * assumes additional values). .