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Negotiating Mega-Agreements: Lessons from the EU

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  • Patrick Messerlin

Abstract

One of the stated objectives of recent ‘mega’ preferential trade agreements (PTAs) being negotiated by large trading powers is to address the trade-impeding effects of differences in national regulation. Past experience demonstrates there are serious limitations in what can be achieved in PTAs even in instances where there is a high level of trust among the countries involved. The disappointing results of the European Union’s “Internal Market” illustrate the challenge of using PTAs to integrate markets. This paper argues that some systemic errors were made in the way the EU Internal Market was negotiated. The two main instruments used to build the EU Internal Market—harmonization and mutual recognition—are of limited usefulness for integrating modern economies. An alternative instrument—mutual equivalence—is a much more promising instrument not only for the EU but also for the mega-PTAs currently under negotiation.

Suggested Citation

  • Patrick Messerlin, 2014. "Negotiating Mega-Agreements: Lessons from the EU," RSCAS Working Papers 2014/112, European University Institute.
    • Handle: RePEc:rsc:rsceui:2014/112
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    References listed on IDEAS

    as
    1. Sébastien Miroudot & Ben Shepherd, 2014. "The Paradox of ‘Preferences’: Regional Trade Agreements and Trade Costs in Services," The World Economy, Wiley Blackwell, vol. 37(12), pages 1751-1772, December.
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    Cited by:

    1. Messerlin, Patrick, 2015. "The Services Dimension of TTIP," CEPS Papers 10550, Centre for European Policy Studies.
    2. Bernard Hoekman, 2015. "Trade Agreements and International Regulatory Cooperation in a Supply Chain World," RSCAS Working Papers 2015/04, European University Institute.

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    Keywords

    regulation; trade agreements; EU; TTIP;
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