Deep and Comprehensive Free Trade Area
Deep and Comprehensive Free Trade Area

Author(s): Per Magnus Wijkman
Subject(s): Supranational / Global Economy, Economic policy, International relations/trade
Published by: ECEAP Estonian Center of Eastern Partnership
Keywords: DCFTA;
Summary/Abstract: This paper considers how a partner country can achieve DCFTAs (»Deep and Comprehensive Free Trade Area«) with the EU (and with other partner countries), key objectives of the Eastern Partnership, It recalls that DCFTAs are well-chosen objectives (section 1) in spite of the initial difficulties involved for the partner countries (section 2). It notes, after historical comparisons, that negotiating DCFTAs will take time (section 3). Finally, it considers ways to shorten this time by negotiating appropriate sequencing, transition periods and asymmetric concessions (section 4) and the need to increase incentives for the partner countries by clarifying their eligibility for accession to the EU in the longer run and the concrete content of the Neighbourhood Economic Community (section 5).This will require both parties to take a long-view looking beyond the current sovereign debt and currency crises, the rapid political changes in the European Neighbourhood and competing claims on limited resources.

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