EU-Mercosur :
Subtitle:
tapping the Atlantic’s potential
Publication Name:
Expert Comments
Volume, number, page:
n.4, p.1-3.
Year of Publication:
2017
Organization Name:
Real Instituto Elcano
City:
Madrid
Country of Publication:
España
Full Date:
31 January 2017
Considered Countries:
Venezuela
Cuba
Bolivia
Estados Unidos de América
Canadá
China
New Zealand
Category:
Informes
Theme:
Subregión-Unión Europea
País-Unión Europea
Relaciones Biregionales UE-ALC
Acuerdos
Acuerdos de Asociación
Asociación Estratégica
Diálogos Birregionales UE-ALC
Gobierno
Empresarial
Keyword(s):
TTIP
TLC
Foreign trade policy
European Union
European Union Policy
América Latina
Free Trade Area of the Americas
Free trade areas
Regional economic policy
Foreign economic policy
Bilateral trade agreements
Free Trade Agreements
TLCAN
Economic Partnership Agreement
Economic Agreements
Mercosur
Abstract:
Over the last few years, the EU’s influence on the global stage has been undermined by a number of developments. Two of them merit special attention: (1) Europe’s economic and financial crisis, and the concomitant political crisis within the EU; and (2) the decision of the Obama Administration to shift its foreign policy priorities towards the Asia-Pacific region. One obvious way for the EU to try to mitigate these two problems is to tap into the economic and geo-political potential of the broader Atlantic Basin. In this vein, the EU has been negotiating a Free Trade Agreement (FTA) with the US for some time, the so-called Transatlantic Trade and Investment Partnership (TTIP). Admittedly, Donald Trump’s election as President of the US represents a serious setback for TTIP. However, if the EU and US managed to weather future complications and reach a reasonable agreement, this could create a truly transatlantic market, with the potential of playing a pivotal role in global trade. Moreover, and given that Canada and Mexico enjoy close trade ties with the US –through the North American Trade Agreement (NAFTA)–, the EU has found it convenient to negotiate separate FTAs with these two countries. The FTA with Canada was signed last October, despite some controversies during the ratification process within the EU. The FTA negotiations with Mexico are still ongoing.
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