Situating the Transatlantic Trade and Investment Partnership (negotiations) in European Union Common Commercial Policy

Abstract:

The Transatlantic Trade and Investment Partnership (TTIP) negotiations can be distinguished from previous trade negotiations in terms of substance and process. The adoption of the mandate and the ongoing negotiations have taken place in the significantly reformed structure of the European Union (EU)’s Common Commercial Policy after the Lisbon Treaty’s entry into force. Efforts at closer economic integration between the world’s two biggest trading blocs has developed as the EU’s focus shifts from the multilateral trade system toward bilateralism and regionalism, and a new generation of trade agreements emerges.

The envisaged TTIP expands the coverage of the agreement to an unprecedented array of commercial relations. Including new issues, such as regulatory cooperation and investment, have impacted the process of negotiations and enhanced its transparency with the involvement of various stakeholders. TTIP as an arrangement may shape the content of the Common Commercial Policy: much of what is achieved could potentially be introduced in other trade negotiations.