Impacts Of Eu Trade Agreements On The Agricultural Sector

Posted on: April 10th, 2021

The EU`s `monitoring of agricultural and agri-food trade` provides the latest information on agricultural and food trade in the EU. The series presents the latest statistics on trade relations and product categories and identifies remarkable developments and emerging trends. It is time to review EU trade policy, particularly in agriculture, in the light of past experience and lessons learned from the Covid-19 crisis. The fact sheets provide a picture of EU-food trade relations with the countries and regions concerned, focusing on key agricultural and trade indicators, decreding the balance of exports and imports, and breaking down trade by product category. The European Commission is developing a series of national and regional requirements to provide a comprehensive overview of agricultural and food trade in the EU around the world. Another strategic element at the root of EU trade policy is the belief that freer trade under international rules is a key element of globalisation and a way to reduce strategic divides and improve a cooperative approach to global issues. Another cross-cutting theme is the competitive devaluation of the currency. There are reasons to include clauses in free trade agreements to counter competitive currency devaluations. Currency devaluation often has more impact on trade than tariffs, and monetary policies that deliberately devalue a currency should be counter-targeted. B, for example, by giving the other party the opportunity to increase tariffs. In short, the EU`s current trade policy could be presented as ready to conclude as many free trade agreements as possible with as many countries as possible. The study, carried out in 2017 on behalf of the Commission by independent consultant Copenhagen Economics, analyses the impact of EU agreements with three countries on agricultural and food trade. It shows that trade agreements have helped boost EU agricultural exports and promote employment in agri-food and other economic sectors.

In 2017, the EU retained the lead in world trade in agricultural and food products with 138 billion euros in exports and 117 billion euros in imports. The importance of the agri-food sector is also highlighted in the report, which accounts for 7.5% of EU employment. Farm Europe argues that it is time for a more balanced trade policy. After Covid-19, we need a policy change that does not harm food security. We need a better balance between the benefits of freer trade and its asymmetric negative effects. We need less ideological policy and more pragmatism and realism. A new trade policy should have the benefits of freer trade while fully protecting vulnerable agricultural sectors or adopting specific programmes to help these sectors cope (and provide binding EU funds to finance these programmes). Agricultural Trade Policy Monitoring (POP) is an annual publication that provides an in-depth analysis of the dominant issues of agricultural and food policy and agricultural trade in general. The series provides a detailed overview of the international environment of agricultural and food trade, with a focus on key products and partners. The EU recently published a detailed review of “the impact of EU trade agreements on the agricultural sector.” The document is published, in its own words, in a context of growing protectionism within the EU and its main trading partners. With an in-depth review of some of the EU`s key free trade agreements, the report aims to support the debate on the pros and cons of trade liberalization.