The EU's New-Generation Trade Agreements: The CETA Treaty

7 Pages Posted: 6 Oct 2017

See all articles by María Jesus González

María Jesus González

Banco de España

Esther Gordo Mora

Banco de España

Marta Manrique Simón

Banco de España - Servicio de Estudios

Date Written: September 5, 2017

Abstract

Against an international background of low tariff barriers, the EU’s trade policy has shifted towards attaining bilateral trade agreements that promote the reduction both of non-tariff barriers and of those regulatory barriers that restrict the movement of goods, services, individuals and investment flows, in addition to including provisions relating to the environment, labour markets and intellectual property rights. An example of these “new-generation” agreements is the Comprehensive Economic and Trade Agreement (CETA) recently negotiated by the EU and Canada, which is in the process of being ratified by the national parliaments. The article describes the general characteristics of new-generation trade agreements, the difficulties posed by their regulatory and wide-ranging nature, and how the CETA has attempted to respond to some of the issues that have proven most controversial for public opinion. The significance of this agreement pertains not only to the economic impact it will have on the European and Canadian economies, but also to how it could act as a model for other agreements with developed countries, including that which the EU and the United Kingdom have to negotiate.

Suggested Citation

González, María Jesus and Gordo Mora, Esther and Manrique Simón, Marta, The EU's New-Generation Trade Agreements: The CETA Treaty (September 5, 2017). Banco de Espana Article 19/17. Available at SSRN: https://ssrn.com/abstract=3048331

María Jesus González

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Esther Gordo Mora (Contact Author)

Banco de España ( email )

Madrid 28014
Spain

Marta Manrique Simón

Banco de España - Servicio de Estudios ( email )

28027 Madrid
Spain

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