Political Economy aspects of Deep and Comprehensive Free Trade Agreements

Abstract:

Trade agreements are usually shaped by political considerations rather than pure welfare estimations. This article aims at discussing the political economy aspects of Deep and Comprehensive Free Trade Agreements offered by the European Union to its Eastern partners.

It is argued that although the DCFTAs concern trade liberalization and remain a technically complicated elite-driven process, they are widely perceived by engaged partners and beyond as primary evidence of joining the European economic integration project which will fundamentally affect the distribution of wealth and power in Eastern neighbourhood redesigning its political economy map. Using trade jargon, these agreements have served geopolitical goals rather than economic interests.