European Union and the Faroe Islands: Possibilities for Closer Trade Relations

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F18%3A10393426" target="_blank" >RIV/00216208:11230/18:10393426 - isvavai.cz</a>
Result on the web
<a href="https://www.ekf.vsb.cz/export/sites/ekf/icei/.content/galerie-dokumentu/ICEI-2018_Proceedings.pdf" target="_blank" >https://www.ekf.vsb.cz/export/sites/ekf/icei/.content/galerie-dokumentu/ICEI-2018_Proceedings.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
European Union and the Faroe Islands: Possibilities for Closer Trade Relations
Original language description
The aim of this paper is to investigate possibilities for closer EU-Faroe Islands trade relations. The Faroe Islands are an autonomous part of the Danish Kingdom which, due to a number of reasons, chose to remain outside of the European integration project when Denmark sought full membership in the 1960s-70s. Today, the Faroes remain outside of the EU Single Market, as well as the Customs Union, trade relations with the EU being governed by a decades-old Free Trade Agreement. This poses significant impediments to the small and undiversified Faroese economy (though the structure of the economy evolves) and causes the Faroese to look for markets elsewhere- including, perhaps unexpectedly, in Russia. Possibilities for closer trade relations with the EU include a modernized FTA, EFTA/EEA membership and full EU membership. Economic, legal and political aspects are taken into account using SWOT analysis. It is argued that enhanced bilateral or multilateral preferential trade regime (free trade agreement) better corresponds to the Faroese specificity of size and political status, while EFTA membership provides added value mainly in symbolic terms.
Czech name
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Czech description
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Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 4th International Conference on European Integration 2018
ISBN
978-80-248-4169-4
ISSN
2571-029X
e-ISSN
neuvedeno
Number of pages
10
Pages from-to
594-603
Publisher name
VŠB - Technical University of Ostrava
Place of publication
Ostrava
Event location
Ostrava
Event date
May 17, 2018
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000462093400065

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