The impact of mega regional agreements on international investment rules and norms

Abstract:

Differences between capital exporting and capital importing countries are decreasing, which may facilitate an agreement on international investment rules. This has been an aim of EU policy for some time.

However, the emergence of mega regional agreements have echoes of previous plurilateral agreements. This European Policy Analysis assesses the impact of the mega regional agreements on international investment norms by considering the likely outcome of the Transpacific Partnership negotiations (TTIP) and the text of EU-Canada Comprehensive Economic and Trade Agreement (CETA). The author finds the mega regional agreements may introduce norms that are closer to the preferences of developing countries. On the other hand, pressing ahead with mega regional agreements will reduce the incentive to reach a genuine multilateral investment agreement.