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Trade Liberalisation Benefits to EU Member States. By Cordula Thum
Jul 20, 2002

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  • Recent papers of three distinguished economists Prof. Robert Stern and Prof. Alan V. Deardorff from the University of Michigan, as well as Prof. Drusilla K. Brown from Tufts University - have shown that a continued effort to reduce tariffs for goods and barriers for services under the auspice of the World Trade Organization would have positive economic effects on the EU Member states.

    The study starts by noting that the essential motivation for launching multilateral trade negotiations to liberalize trade is economic there are substantial economic benefits which can be realized from lowering barriers to international flows of goods and services.

    There are a number of reasons why the expansion of world trade can have a favorable impact on economic growth. In line with the principle of comparative advantage, trade leads to a more efficient allocation of resources. It also facilitates the exploitation of economies of scale, stimulates competition, and can lead to the transmission of technology and knowledge.

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