When Does the Exception Become the Rule? Conserving Regulatory Space Under CETA
Journal of International Economic Law, 2015, pp. 1-13
14 Pages Posted: 1 Nov 2015
Date Written: 2015
The Comprehensive Economic and Trade Agreement (CETA) is certainly the most complex free trade agreement (FTA) ever negotiated by Canada and arguably the most far-reaching ever negotiated by the European Union (EU). Like North American Free Trade Agreement 1994 before it, CETA may well become a model for future mega-regional FTAs. This article explores the seeming paradox that CETA innovates 10 both by its extensive scope and by its very extensive use of exceptions provisions. These exceptions both general and specific are examined. It is argued that these exceptions are needed because, while both parties seek much closer regulatory cooperation, they are also under pressure for legal and political reasons to be seen to preserve regulatory space.
Keywords: International Investment Law, Investment Treaty Arbitration, CETA, International Investment Agreements, Regulatory Space, Exceptions
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