The EU's FTA Strategies in Its New Trade Policy Initiatives and Policy Implications

Heung Chong Kim (), Cheol-Won Lee (), Hyun Jean Lee (), Hyoeun Yang () and Yoo-Duk Kang ()
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Heung Chong Kim: Korea Institute for International Economic Policy
Cheol-Won Lee: Korea Institute for International Economic Policy
Hyun Jean Lee: Korea Institute for International Economic Policy
Hyoeun Yang: Korea Institute for International Economic Policy
Yoo-Duk Kang: Hankuk University of Foreign Studies

No 17-19, World Economy Brief from Korea Institute for International Economic Policy

Abstract: Beginning with the Global Europe Initiative in 2006, the EU has conducted active trade policy measures to contribute to economic growth, job creation and social cohesion in the European community. Comprehensive and high-leveled bilateral FTA initiatives, among others, have rapidly emerged as a major tool of the new trade policy to achieve such goals. More than a decade has passed since the Global Europe Initiative was declared. In the meantime, the EU successfully established several new generational FTAs with the Republic of Korea, Singapore, Vietnam and others, despite harsh economic turmoil led by global and European financial crises, the Greek crisis, Brexit, etc. This paper aims to illuminate how the goals of the new trade policy have been achieved through the EU's FTA strategies over the years since the Global Europe Initiative. To do this, we focus on three topics: EU standards, the evaluation process of market openness and the global value chain (GVC). In other words, we will evaluate how much the EU's FTA strategies have contributed to achieving globalization of EU standards, job creation through careful evaluation processes, and economic growth of the community by utilizing GVCs.

Keywords: New Trade Policy; EU standard; Evaluation process; GVC (search for similar items in EconPapers)
Pages: 3 pages
Date: 2017-09-05
New Economics Papers: this item is included in nep-eec, nep-int and nep-sea
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