TTIP, EU-GCC FTA and lessons learned from free trade, comparative analysis between two free trade negotiations weaknesses strengths, and the future of free trade

  • Ana Teresa Roios (Student)

Student thesis: Master's Thesis

Abstract

Free trade agreements aim at promoting trade, investment, economic growth, job creation and innovation. On the one side, the Transatlantic Trade and Investment Partnership (TTIP) between the European Union and the United States – the world’s largest economies – aims to become one of the biggest trade agreements ever. On the other side, the European Union and the Gulf Cooperation Council free trade agreement, (EU GCC FTA) would equally innovate as the first region-to-region trade agreement. Neither of both treaties have (yet) been concluded. This thesis drew conclusions from a comparison between the EU-GCC FTA and the TTIP negotiations regarding free trade. The findings may be summarized as follows: First, TTIP encounters stumbling blocks when compared to the EU GCC FTA. It has evoked civil interest because its broad scope would influence people’s lives, it includes the controversial Investor-State Dispute Settlement system and it was accompanied by a plethora of unclear communications. Second, TTIP also presents its own advantages, compared to the EU GCC FTA negotiations. The EU and the US share common cultural convictions, they would equally, economically benefit from the agreement and it would be an FTA of the future because of its comprehensiveness. Third, a geopolitical analysis renders conclusions which apply to both the TTIP and the EU GCC FTA negotiations. With regard to (comprehensive) free trade agreement, it is hardly possible to distinguish between economic left-wing and right-wing parties. Globalization has awoken a vibrant feeling of national identity, which is buttressed by current-day events such as Brexit, the latest US presidential elections and the rise of nationalist movements. In order to continue to strive for the welfare and prosperity that comprehensive free trade agreements promise; it is thus imperative to inform and democratically convince the people that globalization should not be feared, but can rightly be embraced.
Date of Award21 Apr 2017
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorLívia Franco (Supervisor)

Keywords

  • European Union
  • United States
  • Gulf Cooperation Council
  • Trade
  • Market access

Designation

  • Mestrado em Ciência Política e Relações Internacionais: Segurança e Defesa

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