The European Parliament is known for its role in negotiating trade agreements on behalf of the European Union. With an aim to boost the EU`s economic growth and competitiveness, the parliament has been at the forefront of shaping the EU`s trade policy.
The EU has been actively negotiating trade agreements with various countries and regions of the world. These trade agreements are aimed at opening up markets, promoting trade and investment, and ensuring a level playing field for businesses.
One of the most significant trade agreements negotiated by the EU is the Transatlantic Trade and Investment Partnership (TTIP) with the United States. The TTIP aimed to remove barriers to trade and investment between the EU and the US, which would have led to increased economic growth and job creation.
Another important trade agreement negotiated by the EU is the Comprehensive Economic and Trade Agreement (CETA) with Canada. CETA is aimed at removing tariffs on goods traded between the EU and Canada, and also includes provisions on services, investment, and intellectual property.
The EU has also negotiated trade agreements with other countries and regions, including Japan, Singapore, and Mexico.
However, these trade agreements have not been without controversy. Many critics argue that trade agreements negotiated by the EU could lead to a race to the bottom in terms of labour and environmental standards. The European Parliament has been keen to ensure that any trade agreement negotiated by the EU includes robust provisions on labour and environmental standards, and that these provisions are enforceable.
The European Parliament has also been active in promoting more transparency in the negotiation of trade agreements. The parliament has called for greater involvement of civil society and other stakeholders in the negotiation process, and has called for the publication of negotiating texts.
In conclusion, the European Parliament plays a crucial role in negotiating trade agreements on behalf of the European Union. These trade agreements have the potential to boost economic growth and create jobs, but they also need to be carefully negotiated to ensure that they do not lead to a race to the bottom in terms of labour and environmental standards. The European Parliament continues to push for more transparency in the negotiation process and for greater involvement of civil society and other stakeholders.
