Free Trade - Conclusions

Summing up, the conclusions that can be formulated on the basis of the above analysis are the following:

  • In the world of today, isolation is wrong. We like it or not, globalization advances with or without us.
  • Failing to involve itself in this advancing process, a country could miss important benefits deriving from international cooperation. Trade is a prime avenue to be taken in this direction.
  • Trade is a “must” for economic growth in any country of the world, irrespective of its level of development and socio-political orientation.
  • Despite its sometimes perverse effects, trade liberalization is beneficial for all countries, developed and developing alike.
  • Consequently, in times of crisis trade liberalization should not be stopped. On the contrary, it should be accelerated.
  • Even if conceptually and structurally different, both WTO and the EU greatly contribute to stimulating the world trade. WTO is the “watchdog” of the multilateral trading system’s healthy functioning, while the EU “creates trade” by speeding up and deepening economic integration.
  • Both WTO and the EU have created and refined working mechanisms and valid instruments meant to stimulate trade among nations. Considered too “legalistic” by some analysts, these systems are nevertheless able to create and maintain stability, transparency and predictability of trade activities.