Wednesday, May 10, 2023

Of strategies and FTAs

Negotiation of trade agreements, whether multilateral or bilateral are undertaken by governments. They represent multiple stakeholders, including local businesses. Free Trade Agreement negotiations are not an end in itself. What it delivers to a negotiating party is critical. Ultimately, whoo benefits, what market access is obtained and how the global economy benefits are questions that one needs to ask.

States often try to reach out to stakeholders to explain the benefits of FTAs and the opportunities that arise out of them. Found this piece by E&Y and FreshFields on how UK businesses can benefit from UK FTAs and what they need to look at. Found this page on trade strategy interesting:

It applies equally to nations and businesses - need a strategy to benefit from trade!