Trade Liberalisation Benefits to EU Member States. By Cordula Thum<< 1 2 3 4 5 >>
Jul 20, 2002
POTENTIAL ECONOMIC BENEFITS FOR EU MEMBER STATES
The following table shows the potential economic effects on EU Member States if tariffs on agricultural and industrial products and services barriers would be reduced by 33 percent in a new WTO trade round. Calculations are also made for global free trade in which these barriers are removed 100 percent.
The results of the Stern/Deardorff/Brown study indicate that the welfare gains from a comprehensive multilateral trade round could be substantial for EU Member countries as well as for the global economy.
In the first instance, if there was a 33% reduction of post-Uruguay Round tariffs on agricultural and industrial products and services in a new WTO trade round, EU/EFTA gains would amount $168.8 billion. A 33% reduction of barriers in services would then contribute to a $103.4 billion gain in EU/EFTA Member states, while the 33% reduction of tariffs in the manufactures and agricultural sector would lead to a $63.3 billion and $2.2 billion gains. Under the assumption of a 33% reduction of post-Uruguay Round tariffs on agricultural and industrial products and services in a new WTO trade round, the EU/EFTA Member Countries share represent 28 percent of the global welfare gains.
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