AN ANALYSIS OF THE EU’S INVESTMENT POLICY AFTER CETA: EFFECTS ON THE BULGARIAN ECONOMY

2020 ◽  
Author(s):  
Nikolay Marin ◽  
◽  
Mariya Paskaleva ◽  
Keyword(s):  
Bilateral Trade ◽  
Positive Impact ◽  
Value Added ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Investment Policy ◽  
National Parliaments ◽  
Total Employment ◽  
Investment Protection ◽  
New Generation

In this paper we analyze the changes of the EU’s investment policy provoked by the mixed trade agreements. The EU’s investment policy has turned towards attaining bilateral trade agreements. One of these “new-generation” agreements is the Comprehensive Economic and Trade Agreement (CETA). It is in a process of being ratified by the national parliaments of the EU members. This study is focused on the general characteristics of CETA and the eventual problems posed by its regulatory and wide-ranging nature. We prove that the significance of this agreement pertains not only to the economic influence, that it will have on the European and Canadian economies, but CETA is also the first trade agreement to have been negotiated with a focus on investment protection and a change in the EU’s investment policy. The current study reveals the influence arising from the conclusion of CETA on the Bulgarian economy with an emphasis on electronic industry, machinery industry and manufacturing. We estimate both – the direct and indirect effects on Bulgaria’s exports, imports, value added and employment. In order to estimate the influence, we apply the multi-regional input-output model. It is proved that CETA will have a low but positive impact on the Bulgarian economy. After constructing different scenarios of development, we prove that the influence of CETA on the Bulgarian economy will amount to 0.010% GDP. The average total employment will be increased by more than 172 jobs in Bulgaria, which in turn, relative to the labor market, represents less than 0.01% of the total employment.

Exploiting the Trade Potential from Integration: Analysing the Impact of Free Trade Agreements between ASEAN and India and China

China Report ◽  
2018 ◽  
Vol 54 (4) ◽  
pp. 442-466 ◽  
Author(s):  
Nguyen Xuan Trung ◽  
Nguyen Duc Hung ◽  
Nguyen Thi Hien
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Bilateral Trade ◽  
Positive Impact ◽  
Stochastic Frontier ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The Impact ◽  
Stochastic Frontier Estimation

In this article, we use the technique of stochastic frontier estimation for the structural gravity model to analyse Vietnam’s bilateral trade and evaluate its exploitation of trade efficiency before and after its free trade agreements (FTAs) with China and India entered into force. The results from Vietnam’s bilateral trade data between 2000 and 2015 show that the ASEAN–India Free Trade Agreement (AIFTA) has had a positive impact on Vietnam’s bilateral trade flows while we found a remarkably negative effect on Vietnam’s exports but not imports after the entry into force of the ASEAN-China Free Trade Agreement (ACFTA). In addition, Vietnam’s participation in the regional trade agreements (RTAs) and FTAs has significantly reduced the costs of trade over time, and these impacts on Vietnam’s imports are much higher than those on Vietnam's exports.

scholarly journals The Impact of Trade Agreement and War on Specific Indonesia-China Bilateral Trade

2022 ◽  
Vol 1 (2) ◽  
pp. 128
Author(s):  
Christieni Maria
Keyword(s):  
Bilateral Trade ◽  
Positive Impact ◽  
Descriptive Analysis ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Economic Relations ◽  
Trade War ◽  
The Impact ◽  
Star Position ◽  
Lost Opportunity

This research aims to evaluate the impact of trade agreements and trade war on specific Indonesia-China bilateral trade on four export-import commodities during 2014 - 2019. The methodology used are both descriptive analysis and RCA and EPD analysis. The entire analysis section tries to focus on important periods of economic relations between Indonesia and China, namely the implementation of the 2015 ACFTA and trade war. The results of the study indicate that Indonesia's selected export commodities have huge potential to be developed in bilateral trade with China, especially to maximize the benefits of ACFTA. The implementation of ACFTA 2015 has a positive impact on the growth of the four selected commodities as well as on its competitive analysis. The results of RCA analysis show the four commodities remain including highly competitive, even for palm oil tends to be specialized for Indonesia, however there are differences from EPD analysis results where the two Indonesian export commodities (Animal or Vegetable Fats/ HS15 and Mineral Fuels/ HS27) before the trade war was in the rising star position, it became a lost opportunity, but for the two imported Indonesian commodities, there was no change in staying in the rising star position.

The Turkey-UK Free Trade Agreement in Terms of Economic Diplomacy

2021 ◽  
Vol 23 (Fall 2021) ◽  
pp. 193-211
Author(s):  
Kaan Yiğenoğlu
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Bilateral Trade ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The European Union ◽  
Economic Relations ◽  
Economic Diplomacy ◽  
The Uk

This article scrutinizes relations between economic diplomacy and free trade agreements by focusing on the Turkey-UK free trade agreements which came into force in 2021. Accordingly, the article first introduces the concept of economic diplomacy, an important issue as it has been shown that bilateral trade agreements, nowadays preferred by many countries, can be used as a tool of economic diplomacy. The article then discusses the history and development of free trade agreements signed by Turkey, including its long-running experience of economic integration with the European Union. Although Turkey began establishing free trade agreements in the 1990s, it has been concentrating on and accelerating its use since 2000. Based on economic and political reasons underlying the free economic agreements, the reasons why Turkey and the UK have reached such an agreement are summarized. Economic relations between the two countries are then analyzed and the details of the agreement are investigated in the context of the changes that it provides.

Endogenous Preferential Trade Agreements: An Empirical Analysis

2003 ◽  
Vol 2 (1) ◽  
Author(s):  
Christopher S Magee
Keyword(s):  
Political Economy ◽  
Empirical Analysis ◽  
Bilateral Trade ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Preferential Trade Agreements ◽  
The Political ◽  
Preferential Trade ◽  
Trading Partners ◽  
Regional Agreements

Abstract This paper provides one of the first assessments of the hypothesis that two countries are more likely to form a preferential trade agreement (PTA) if they are already major trading partners. The paper also tests a number of predictions from the political economy literature about which countries are expected to form regional agreements. The results show that countries are more likely to be preferential trading partners if they have significant bilateral trade, are similar in size, and are both democracies. Finally, the paper measures the effect of preferential agreements on trade volumes while, unlike previous studies, treating PTA formation as endogenous.

Part I Investment Treaties and the Settlement of Investment Disputes: The Framework, 1 Bilateral Investment Treaties and Investment Provisions in Preferential Trade Agreements: Recent Developments in Investment Rule-making

2018 ◽  
Author(s):  
Echandi Roberto
Keyword(s):  
Dispute Settlement ◽  
Trade Agreements ◽  
International Investment ◽  
Preferential Trade Agreements ◽  
Preferential Trade ◽  
Investment Protection ◽  
Investment Treaties ◽  
New Generation ◽  
The Impact ◽  
Rule Making

This chapter argues that investment disputes, particularly those that have arisen in the context of the implementation of NAFTA, have influenced the refinement of the provisions of new generation international investment agreements (IIAs) as well as the inclusion of a series of procedural and substantive innovations. It addresses the main distinction between BITs and investment chapters in preferential trade agreements (PTAs), focusing on the evolution of their respective rationales. It looks at the main features of the new generation of IIAs and explains how such features respond to challenges derived from the interpretation of substantive and procedural provisions included in previous agreements. The discussion is organized under two themes: (i) moving from the original exclusive focus on investment protection towards also promoting liberalization of investment flows; and (ii) the impact of investor-state dispute settlement on investment rule-making.

Stocktaking and Glimpsing at Trade Law's Next Generation

2017 ◽  
Vol 111 ◽  
pp. 92-95
Author(s):  
Kathleen Claussen
Keyword(s):  
United States ◽  
Free Trade ◽  
Bilateral Trade ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Asia Pacific ◽  
The European Union ◽  
Trade Law

These remarks are derived from a forthcoming work considering the future of international trade law. Compared with most features of the international legal system, the regional and bilateral trade law system is in the early stages of its evolution. For example, the United States is a party to fourteen free trade agreements currently in force, all but two of which have entered into force since 2000. The recent proliferation of agreements, particularly bilateral and regional agreements, is not unique to the United States. The European Union recently concluded trade agreement negotiations with Canada, Singapore, and Vietnam to add to its twenty-seven agreements in force and is negotiating approximately ten additional bilateral or multilateral agreements. In the Asia-Pacific Region, the number of regional and bilateral free trade agreements has grown exponentially since the conclusion of the Association of Southeast Asian Nations (ASEAN) Free Trade Area of 1992. At that time, the region counted five such agreements in force. Today, the number totals 140 with another seventy-nine under negotiation or awaiting entry into force. The People's Republic of China is negotiating half a dozen bilateral trade agreements at present to top off the sixteen already in effect. India likewise is engaged in at least ten trade agreement negotiations. The World Trade Organization (WTO) reports 267 agreements of this sort in force among its members as of July 1, 2016.

scholarly journals Trade Agreements and Services Value Chain: The Case of India and Thailand

2016 ◽  
Vol 3 (1) ◽  
pp. 11
Author(s):  
Tanu M. Goyal ◽  
Arpita Mukherjee
Keyword(s):  
Southeast Asia ◽  
Value Chain ◽  
Market Access ◽  
Value Added ◽  
Secondary Data ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Global Value Chain ◽  
Production Networks ◽  
South And Southeast Asia

Services sector is an important component of the world trade and production networks. With the opening up of world economy, the role of services in the global value chain and value added has expanded. Services liberalisation is becoming a crucial component of free trade agreements. This is particularly true for trade agreements between South and Southeast Asia. Given this background, the objective of this paper is to understand the scope of establishing services value chain between two countries in South and Southeast Asia - namely India and Thailand - by integrating the two markets through trade agreement. The analysis is based on secondary data, in-depth interviews with policy makers and stakeholders in India and Thailand and an examination of the existing trade agreements of the two countries. The paper found that the present level of integration between the two markets is low due to the existence of market access barriers and regulatory bottlenecks. The paper makes recommendation on how the two countries can reduce barriers to trade in services, thereby fostering greater integration and leveraging the development of a global value chain.

“Putting the Pieces Together … an EU Model BIT?”

2014 ◽  
Vol 15 (3-4) ◽  
pp. 679-704 ◽  
Author(s):  
August Reinisch
Keyword(s):  
North American ◽  
Dispute Settlement ◽  
Trade Agreement ◽  
Trade Agreements ◽  
External Trade ◽  
Investment Protection ◽  
General Overview ◽  
Investment Treaty ◽  
Investment Agreements ◽  
Scope Of Protection

Although the eu Commission as negotiation leader in the field of external trade matters which, after Lisbon, also include investment will not issue a Model Investment Treaty, a number of its statements together with reactions by the Council and the Parliament allow the observer to draw conclusions as to the likely content of such future agreements. In addition, those trade agreements with investment chapters which are already close to finalization, like the Canada-eu Comprehensive Economic and Trade Agreement (ceta), provide telling insights concerning the main features of an eu agreement on investment protection. This article provides a general overview of the expected content of eu treaties in the field of investment, comprising scope of protection, substantive standards, and dispute settlement. It concludes that future eu investment agreements are likely to contain the traditional short eu bit standards to which a number of specifications inspired by North-American practice will be added.

New generation trade agreements as an economic challenge for the European Union and its Member States – the case of CETA

2019 ◽  
Vol 4 ◽  
pp. 141-158
Author(s):  
Magdalena Śliwińska
Keyword(s):  
Mutual Recognition ◽  
Free Trade Area ◽  
Trade Agreements ◽  
Individual Member ◽  
Specific Situation ◽  
The European Union ◽  
Member States ◽  
Investment Protection ◽  
Trade Area ◽  
New Generation

The so-called new-generation trade agreements, such as the CETA agreement signed by the EU and Canada, include not only the liberalization of trade in goods and the creation of a free trade area, but also many other areas, such as liberalization of the services market, including public services, mutual recognition of professional qualifications, deregulation and liberalization of financial markets, enhanced cooperation in the protection of intellectual property, and mutual investment protection. The considerations carried out in this work show that the analysis of the consequences of this type of agreements should be carried out not only at the level of the entire EU but also from the perspective of individual member states whose level of economic development and economic structures differ significantly. This is important for proper preparation for the entry into force of such an agreement, creating conditions for the full use of the opportunities arising from it and for adapting to the new market-specific situation and avoiding the greatest possible threats.

Determinants of bilateral trade between China and Africa: a gravity model approach

2020 ◽  
Vol 47 (5) ◽  
pp. 1015-1038
Author(s):  
Zhijie Guan ◽  
Jim Kwee Fat Ip Ping Sheong
Keyword(s):  
Gravity Model ◽  
Bilateral Trade ◽  
Economic Recession ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Negative Effects ◽  
Content Type ◽  
Factors Affecting ◽  
The Impact ◽  
Model Approach

PurposeThe main purpose of this paper is to analyse the different factors affecting Sino-African trade based on the gravity model, and propose some solutions to improve the problems.Design/methodology/approachThe paper is based on an extended gravity model, including trade agreement and recession as explanatory variables. The impacts of trade agreement and economic recession on Sino-African imports and exports are examined.FindingsThe results show that the product of GDP affects African exports to China significantly and negatively, and affects African imports from China positively. Real exchange rate affects African exports to China positively, and affects African imports from China negatively. Population affect African exports to China significantly and positively, and affect African imports from China positively. Recession have negative effects on both African imports from China and exports to China but is only significant for imports. Agreement affects African imports from China and exports to China positively. Our findings confirm the impact of economic recession, and imply that the structure of African product exported to China should be improved, and trade agreements should be reinforced.Originality/valueThis paper contributes and extends the literature on Sino-African trade by improving the traditional gravity model to include the impact of all trade agreements, and their aggregating effects on trade. The paper also seeks to assess the trade impact of economic recession through a dynamic gravity model approach for which there has been no research done to our knowledge. In this regard, it provides new understanding of the trade pattern between China and Africa, and ways in improving the Sino-African bilateral trade.

Sign in / Sign up

Export Citation Format

Share Document