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What we should know about Trade Agreements (FTAs)

May 22, 2018 136 Comments

What we should know about Trade Agreements (FTAs)

 

What we should know about Trade Agreements

(Some also called "TLC")

What is a free trade agreement?

A free trade agreement (FTA) is a binding trade agreement signed by two or more countries to agree on the granting of mutual tariff preferences and the reduction of non-tariff barriers to trade in goods and services. In order to deepen the economic integration of the signatory countries, an FTA also incorporates the issues of access to new markets; other regulatory aspects related to trade, such as intellectual property, investments, competition policies, financial services, telecommunications, electronic commerce, labor issues, environmental provisions and commercial defense mechanisms, and dispute resolution. The FTAs ​​have an indefinite term, that is; they remain in force throughout time, so they have a perpetual character.

Why it's important to sign Free Trade Agreements?

The Free Trade Agreements are part of a long-term commercial strategy that seeks to consolidate markets for products from different regions in order to develop a competitive exportable supply, which in turn generates more and better jobs. Experience shows that the countries have achieved the greatest development in recent years are those that have successfully joined international trade, thus expanding the size of the market for their companies. The need to promote trade integration as a mechanism to expand markets is quite clear in many sectors of the Americas, whose local markets, due to their small size, offer few business opportunities and, therefore, job creation.

What advantages and disadvantages can bring the Free Trade Agreements?

Free Trade Agreements bring benefits not only related to commercial aspects, but that is positive for the economy as a whole: they allow to reduce, and in many cases eliminate tariff and non-tariff barriers to trade; they contribute to improving the competitiveness of companies (given that it is possible to have raw materials and machinery at lower costs); they facilitate the increase in the flow of foreign investment, by granting certainty and stability over time to investors; they help to compete on equal terms with other countries that have achieved access advantages through similar commercial agreements, as well as; to obtain advantages over countries that have not negotiated preferential trade agreements, and finally; they encourage the creation of jobs derived from greater export activity. Likewise, the commercial opening generates greater integration of the country into the world economy, which makes it possible to reduce the volatility of its growth; the level of country risk and the cost of financing private activity in general.

However, not all sectors of the economy benefit in the same way from free trade agreements. There are undoubtedly products of greater sensitivity in the negotiation process that must be protected with certain commercial defense mechanisms. However, the negative effects on certain products can also be mitigated and better if the appropriate measures are taken to boost their competitiveness or in any case encourage their conversion to activities with greater potential.

The Free Trade Agreements or better known as FTAs ​​are a fundamental tool in the global economic integration that being well managed, and planned would make possible a more accessible, democratic and sustainable economy.

 

*** SPANISH VERSION ***


Lo que debemos saber de los Acuerdos Comerciales

(Algunos también llamados "TLC")

¿Qué es un tratado de libre comercio?

Un tratado de libre comercio (TLC) es un acuerdo comercial vinculante que suscriben dos o más países para acordar la concesión de preferencias arancelarias mutuas y la reducción de barreras no arancelarias al comercio de bienes y servicios. A fin de profundizar la integración económica de los países firmantes, un TLC incorpora además de los temas de acceso a nuevos mercados, otros aspectos normativos relacionados al comercio, tales como propiedad intelectual, inversiones, políticas de competencia, servicios financieros, telecomunicaciones, comercio electrónico, asuntos laborales, disposiciones medioambientales y mecanismos de defensa comercial, y de solución de controversias. Los TLC tienen un plazo indefinido, es decir; permanecen vigentes a lo largo del tiempo por lo que tienen carácter de perpetuidad.

¿Por qué es importante firmar tratados de libre comercio?

Los Tratados de Libre Comercio forman parte de una estrategia comercial de largo plazo que busca consolidar mercados para los productos de diferentes regiones con el fin de desarrollar una oferta exportable competitiva, que a su vez genere más y mejores empleos. La experiencia muestra que los países que más han logrado desarrollarse en los últimos años son aquellos que se han incorporado exitosamente al comercio internacional, ampliando de esta manera el tamaño del mercado para sus empresas. La necesidad de promover la integración comercial como mecanismo de ampliación de mercados es bastante clara en muchos sectores de las américas, cuyos mercados locales, por su reducido tamaño, ofrecen escasas oportunidades de negocios y, por tanto, de creación de empleos.

¿Qué ventajas y desventajas pueden traer los tratados de libre comercio?

Los tratados de libre comercio traen consigo beneficios que están relacionados no sólo con aspectos de tipo comercial, sino que son positivos para la economía en su conjunto: permiten reducir y en muchos casos eliminar las barreras arancelarias y no arancelarias al comercio; contribuyen a mejorar la competitividad de las empresas (dado que es posible disponer de materia prima y maquinaria a menores costos); facilitan el incremento del flujo de inversión extranjera, al otorgar certidumbre y estabilidad en el tiempo a los inversionistas; ayudan a competir en igualdad de condiciones con otros países que han logrado ventajas de acceso mediante acuerdos comerciales similares así como a obtener ventajas por sobre los países que no han negociado acuerdos comerciales preferenciales; y, finalmente, fomentan la creación de empleos derivados de una mayor actividad exportadora. Asimismo, la apertura comercial genera una mayor integración del país a la economía mundial, lo que hace posible reducir la volatilidad de su crecimiento, el nivel de riesgo-país y el costo de financiamiento de la actividad privada en general.

Sin embargo, no todos los sectores de la economía se benefician de igual manera con los tratados de libre comercio. Hay sin duda productos de mayor sensibilidad en el proceso de negociación que deben ser protegidos con determinados mecanismos de defensa comercial. Sin embargo, los efectos negativos sobre ciertos productos también pueden atenuarse y de mejor manera si se toma las medidas adecuadas para impulsar su competitividad o en todo caso incentivar su reconversión hacia actividades con un mayor potencial.

Los Tratados de Libre Comercio o mejor conocidos como TLC son una herramienta fundamental en la integración económica global que siendo bien manejados y planificados haría posible una economía más accesible, democrática y sostenible.

 





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