The recent crisis has deeply changed the environment in which the EC-Turkey Custom Union (ECT) will develop. The world trade in goods was experiencing its worst collapse in almost a century (a fall of 20 percent in volume in one year, twice more than in 1929-30 for the same time lapse) but it...

For simplicitly, the recommendations listed below assume that there will be one regional FTA (as shown in the attached note, the same results can be achieved by a regional set of bilateral FTAs, but at higher costs and greater uncertainty). They focus on five countries (Albania,...