The study about the potential cumulative economic impacts on the EU agri-food sector of ten recently concluded or currently negotiated free trade agreements shows that engaging in preferential trade relations supports the development of additional markets for EU agri-food products and diversifies import sources.
A JRC analysis of 10 new trade agreements, concluded or under negotiation, finds that EU exports to the 10 partners will increase strongly.
The results of the modelling exercise are published in a study focusing on the economic impact on EU agriculture, looking into trade, production and prices.
Know more
European Commission press release (23 EU languages): https://ec.europa.eu/commission/presscorner/detail/en/ip_24_1001
EU science hub page: https://joint-research-centre.ec.europa.eu/jrc-news-and-updates/new-trade-agreements-result-positive-cumulative-impact-eu-agri-food-trade-balance-2024-02-22_en
Title: Cumulative economic impact of upcoming trade agreements on EU agriculture – 2024 update
Report:
https://publications.jrc.ec.europa.eu/repository/handle/JRC135540
Web infographics: https://datam.jrc.ec.europa.eu/datam/mashup/FTA_2024
Authors: Ferrari, E., Elleby, C., De Jong, B., M’barek, R., Perez Dominguez, I.
Journal: Publications Office of the European Union
Abstract: This study investigates the potential effects of 10 upcoming free trade agreements (FTAs) under the current EU trade agenda. It quantifies the cumulative sectoral impacts in terms of bilateral trade, production, demand and price developments. Moreover, it provides insights into the evolution of supply, demand and farm-gate prices for the most relevant EU agricultural commodity markets. In contrast to a forecast exercise, this analysis compares two variants of a trade liberalisation scenario (conservative and ambitious) with a business-as-usual (baseline) situation in 2032, including an analysis of the effects of the UK trade agenda on EU agri-food trade. The study confirms that the analysed FTAs have the potential to benefit the EU agri-food sector, especially the dairy, pigmeat, processed food and beverages sectors. It also highlights the vulnerability of the beef, sheep meat, poultry meat, sugar and rice sectors.
