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Directions of changes in the common trade policy of the European Union in the context of contemporary challenges in international relations
Abstract
RESEARCH OBJECTIVE: The main objective of the article is to identify and evaluate the directions of changes to the European Union’s common commercial policy introduced in the face of new challenges in international relations.
THE RESEARCH PROBLEM AND METHODS: The key research problem is to examine how changes in the aims and objectives of the common commercial policy can contribute to strengthening the international role of the European Union and improving its position in international trade. The research process used literature studies, analysis of EU legislation and analysis of Eurostat and WTO statistical data.
THE PROCESS OF ARGUMENTATION: The article began by presenting the essence and scope of the common commercial policy and showing its most important external determinants. This was followed by an analysis of the changes in the EU’s position in trade with third countries in recent years. The next section describes the new goals and priorities of the common commercial policy and assesses the importance of changes in the trade policy to reinforce the EU’s position in world trade.
RESEARCH RESULTS: During the period of analysis, the European Union’s share in world trade declined and its trade dynamics showed significant volatility, indicating its vulnerability to trade disruptions and geopolitical tensions. The new EU trade strategy, in line with the concept of open strategic autonomy, supports the transformation of the EU economy and safeguards its position in international trade.
CONCLUSIONS, INNOVATIONS, AND RECOMMENDATIONS: The common commercial policy is an important tool for achieving the EU’s strategic objectives, increasing its economic resilience and boosting the EU’s competitiveness, in a turbulent environment and high uncertainty in international relations.
Keywords
common trade policy ; European Union ; new trade strategy ; open strategic autonomy
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