Chris and Shalisa Wedding
Uncategorized

Mediterranean Free Trade Agreement

14 Another important condition for the establishment of a comprehensive CEMTA is the conclusion of free trade agreements between the CDOs. However, so far, the EMI and trade negotiations, in particular, have had a pivotal relationship dominated by the EU (see above). The MNCs have not been able to integrate their economies. Their intra-regional trade remains at a very low and prohibitive level. This discourages international investors. As a result, MDCs continue to hold a very small share of the global CDF, although CDF is seen as necessary to stimulate economic development. 10 Although the idea of the gradual establishment of a CEMTA was discussed as early as the 1970s as part of the Partnership and Cooperation Agreements (CPA), the idea was put on the European table by Morocco in 1992. This idea was welcomed by the European Commission and Spain, which hoped that the EMFTA tranche would cancel negotiations on the EEC-Morocco fisheries agreement, an agreement by which Spanish fishermen would have access to Moroccan fishing areas. At first, the European Parliament was not in favour of the free trade area. Since it did not have formal jurisdiction over free trade agreements, the agreement would reduce its influence in Euro-Moroccan relations. Nevertheless, the European Council approved the principle of the gradual creation of a free trade area between the European Community and all Maghreb countries, although not all European Member States were in favour of the explicit purpose of a free trade area being explicitly stated in the declaration. [32] It was only later, with the start of the Barcelona process in 1995, that all European actors agreed that the creation of a CEMTA would be one of the main objectives of Euro-Mediterranean relations. The CCFTA is having an impact on all economic sectors, including agriculture, by removing tariff and non-tariff barriers.

These are “WTO” and “new generation” agreements: they go beyond the WTO (for the protection of intellectual property, the opening of public procurement, competition rules, etc.) and require harmonization of legislation (in this case the adoption of the European regulatory system). They also liberalize investments and include an investor-state dispute settlement mechanism. 15 Integration is slow for economic and political reasons. From an economic point of view, NMNs have similar factor endowments and the resulting comparative advantages for both industrial and agricultural products. [42] This makes regional integration sensitive because it imposes greater competition on its industries in the short term.