Regional trade agreements: development and barriers

  • Ekaterina Lisitsa Belarusian State Economic University
Keywords: modes of supply, trade, services, EU, EAEU, regional trade agreements, partnership and cooperation agreements, transport services

Abstract

The object of the research: interrelations of liberalization, special commitments of EU countries in WTO and EU partnership and cooperation agreements. The main aim of the research: on the ground of revealing the world trade in services to define the main directions of regional development, drivers of economic growth and to find some possible solutions for strengthening performance and cooperation agreements in international trade in services (transport services). The methods: general scientific methods of analysis and synthesis, methods of grouping, detailing, generalization and systematization of data, as well as economic and mathematical models. The results: The article contains analysis of approaches to the development of trade in services in the world economy, both from the theoretical and practical point of view. It was revealed that as a result of the integration processes, the service sector received new growth points. At the same time, the countries' obligations to the WTO are reflected in the framework of agreements on cooperation and cooperation, which have been significantly developed in the world economy. Based on the analysis of partnership and cooperation agreements between the EU and various countries, the main existing mechanisms for protecting national markets and the common European market are identified, as well as the most liberalized services that are possible for the development of competition (transport services) at the level of regional economic integration. The results can be used to form national strategies for strengthening e in services of EAEU countries on national and regional integration levels; to stimulate economic growth in short and long run. Conclusion: The main trends of the world economy development is the proliferating growth of trade in services than trade in goods, and the increasing dissemination of regional integration and partnership and cooperation agreements (PCAs). The existence of PCAs promotes an increase in trade between countries, removal of barriers to export deliveries, and the identification of additional potential for cooperation. This creates the prerequisites for the gradual rapprochement between participating countries in the interests of forming a wide space of economic and humanitarian cooperation, contributes to the formation of a multi-level architecture for sectoral interaction and the identification of institutional frameworks for bilateral dialogue. The provisions of the PCAs make it possible to establish a regime of trade relations, close to the regime of the WTO. Mechanisms for the implementation of such agreements provide an opportunity not only to effectively resolve current problems in trade relations, but also to improve bilateral cooperation, including through the consistent harmonization of legislation with WTO rules (if country is not the WTO member). It helps to develop cooperation in services sectors, most open to competition (for example, transportation services) and identify the necessary benchmarks for further deepening of cooperation.

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References

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Author Biography

Ekaterina Lisitsa, Belarusian State Economic University

Lisitsa Ekaterina, Ph.D. (Economics), Associate Professor of Finance department, leading economist State enterprise «Belarusian Railways»

Published
2018-04-03
How to Cite
Lisitsa, E. (2018). Regional trade agreements: development and barriers. University Economic Bulletin, (37/1), 330-336. Retrieved from https://economic-bulletin.com/index.php/journal/article/view/50
Section
International Economics