The European Parliament is a vital institution in the European Union. As one of the three main bodies, it plays a crucial role in shaping the direction of EU policies. One such policy area is international trade agreements. Over the years, the EU has entered into numerous trade agreements with countries around the world. These agreements have been essential in promoting economic growth and job creation in the EU.
The EU’s trade agreements are negotiated by the European Commission, the executive branch of the EU. Once the Commission has reached an agreement with another country or group of countries, it is presented to the European Parliament for approval. The Parliament has the power to accept or reject the agreement, and it can also propose amendments.
In recent years, the EU has entered into several high-profile trade agreements, including the Comprehensive Economic and Trade Agreement (CETA) with Canada, the Japan–EU Economic Partnership Agreement, and the EU–Mercosur Free Trade Agreement. These agreements have been the subject of intense public debate, with some arguing that they benefit large multinational corporations more than ordinary citizens.
One of the main criticisms of these agreements is that they can have a negative impact on the environment and human rights. Critics argue that they can lead to increased deforestation, water pollution, and the exploitation of workers in developing countries. The EU has sought to address these concerns in its trade agreements by including provisions on sustainable development and human rights.
In addition to its trade agreements with individual countries, the EU is also involved in multilateral trade negotiations. One such negotiation is the Transatlantic Trade and Investment Partnership (TTIP) with the United States. The TTIP has drawn widespread criticism from civil society groups, who argue that it would lead to the privatization of public services and lower environmental and consumer protection standards.
Despite the controversy surrounding its trade agreements, the EU remains committed to pursuing free and fair trade with countries around the world. Through its extensive network of agreements, the EU is working to create a more interconnected global economy that benefits all countries and citizens. Whether or not these agreements live up to their promise remains to be seen, but one thing is clear – the European Parliament will continue to play a central role in shaping the EU’s trade policies.