Revista de Economie Mondiala/ Journal of Global Economics

1-20

Authors: Agnes Ghibuțiu

This paper analyses the ongoing plurilateral negotiations for a new Agreement on Trade in Services. Its aim is to answer to the following set of questions: (1) What are the motivations behind these negotiations as well as the objectives of the new plurilateral trade in services agreement? How will the architecture of the new agreement look like? (2) What are the interests involved in negotiating this new plurilateral agreement on trade in services? and (3) How will it fit into the multilateral trading system revolving around the WTO? According to the findings of the paper, the new deal that is promoted by 23 like-minded WTO Members, including the EU, is a policy response to disappointment over the protracted multilateral talks and the very impasse of the Doha Round. Yet, the stakes on negotiating an ambitious market opening for services are quite high, given the importance of services in international trade and particularly their crucial role in global production networks, that dominate nowadays global production, trade and investments.

42-55

Authors: Eduard Marinov

State and government leaders of the African Union are strongly committed to adopt and implement decisions for regional integration, seen as a common strategy for the development of the continent. The major objective at continental level is the establishment of the African Economic Community as the last of six consecutive stages of integration, including the strengthening of inter-sectoral cooperation and the establishment of regional free trade areas, monetary union, common market, monetary and economic union, covering the entire continent. Currently there are 16 Regional economic communities in Africa and 8 of them are officially recognized as the foundation for the development of the African economic community. In our paper we review their goals, their main achievements and issues and also the progress made in the integration process and the challenges it faces.

78-89

Authors: Cristina Bumbac

Basic ferroalloys are some of the most important ingredients for producing carbon and special steel (using ferrochrome and other special ferroalloys). The market of basic ferroalloys is somehow independent of other raw materials markets, depending mostly of steel. There are sometimes speculative operations, but they do not have a significant impact on prices. Producers are concentrated in countries and regions where metals (manganese, silicium or silicon, chromium) deposits can be found: mostly Africa, China and Latin America. On the other side, consumption is concentrated in Europe and the USA, recently also within the BRIC countries. This situation generates conflicts, especially about prices and long term contracts. The spot market is quite volatile and dominated by traders. The atypical crisis which began at the end of 2007 had not a significant impact on basic ferroalloys prices until 2012. By contrast, 2013 was a very difficult year for ferroalloys, with small prices and a precarious economic situation worldwide.

109-117

Authors: Mariana Papatulica

In an attempt to reduce the influence of Russia as a main energy supplier to Europe, several members of the US Congress have increased pressure on the US government so as to urgently obtain permits to liberalize US exports of natural gas, mainly to Europe. Russia has recently cancelled an important gas price discount, previously granted to Ukraine, in order to exert pressures related to the situation in Crimea. This movement was a new attempt of Russia to exercise its "power" as a big energy exporter, seriously threatened in the future by the growth of US exports of natural gas. While having a certain interest in countering Russian influence in Europe, the US are limited, for the short term, in their ability to strategically deploy their energy exports for geopolitical purposes. Instead, the United States can support projects to diversify energy sources of the neighbouring countries of Russia, including Ukraine, in order to diminish their dependence on energy imports from Russia. While US is the leading provider of security for Europe, Russia has chosen to be the main supplier of energy. Nevertheless, the latter one has used energy, rather frequently, as a "political weapon" in relationship with its neighbours and as psychological pressure instrument on the European Union, in order to limit its price negotiation force.