scholarly journals Implications of the Transatlantic Trade and Investment Partnership (TTIP) for Investment Flows Between the European Union and the USA

2017 ◽  
Vol 20 (3) ◽  
pp. 25-39
Author(s):  
Janina Witkowska
Keyword(s):  
European Union ◽  
Free Trade ◽  
Dispute Settlement ◽  
Free Trade Area ◽  
The European Union ◽  
Investment Protection ◽  
Transatlantic Trade ◽  
The Usa ◽  
Trade And Investment ◽  
The Eu

The Transatlantic Trade and Investment Partnership (TTIP) is a controversial subject, but at the same time it is perceived to be the most comprehensive international agreement on free trade and investment protection. Among the topics that evoke criticism on the part of different social groups is the investor‑state dispute‑settlement (ISDS), as well as its legal consequences for the EU Member states. A less discussed issue is the potential implications of the agreement on the state of economic co‑operation between the European Union and the USA in the field of investment flows, with special reference to foreign direct investment (FDI). The aim of this paper is to present the discussion related to the ISDS and examine some of the economic, political and legal implications of TTIP provisions for FDI flows between the EU and the USA. The proposals of the European Commission to change the investment protection system might be treated as an attempt to make the system of arbitrage more transparent and convincing to societies, and safer for states. The effects of the TTIP agreement for FDI between both partners might be dependent on the scale of trade creation and diversion effects, and the mirror effects of investment creation and diversion under a free trade area.

Negotiating 21st Century Rules on Energy: What Is at Stake for the European Union, the United States and the BRICS?

2018 ◽  
Vol 19 (3) ◽  
pp. 415-443 ◽  
Author(s):  
Ilaria Espa ◽  
Kateryna Holzer
Keyword(s):  
United States ◽  
European Union ◽  
Renewable Energy ◽  
The United States ◽  
Energy Market ◽  
The European Union ◽  
Transatlantic Trade ◽  
Energy Trade ◽  
Trade And Investment ◽  
The Eu

Abstract In the context of the Transatlantic Trade and Investment Partnership (TTIP), the European Union (EU) has taken the lead in promoting the inclusion of a specific chapter on energy trade and investment in order to enhance energy security and promote renewable energy. Irrespective of the success of the TTIP negotiations, the EU proposal can contribute to developing multilateral rules on energy trade and investment. This is especially important given the increased number of energy disputes filed by the EU and the United States against other leading energy market players, including the BRICS. This article provides a normative analysis of the new rules proposed by the EU and reflects on potential responses of BRICS energy regulators. It argues that, while these rules are unlikely to immediately affect BRICS energy practices, they may eventually be ‘imported’ in BRICS domestic jurisdictions in order to promote renewable energy and attract investment in energy infrastructure.

The eu-Vietnam Free Trade Agreement – A Successful Attempt to Protect Vietnam’s Environment While Pushing for Economic Integration?

2017 ◽  
Vol 14 (2) ◽  
pp. 208-222
Author(s):  
Heidi Stockhaus
Keyword(s):  
European Union ◽  
Free Trade ◽  
Economic Integration ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The European Union ◽  
The Past ◽  
Successful Attempt ◽  
Trade And Investment ◽  
The Eu

The new free trade agreement with the European Union will bring Vietnam’s economic integration to a new level once it enters into force. In the past, the associated economic growth has led to environmental deterioration due to inappropriate regulations and poor enforcement. Currently, environmental problems are visible everywhere and attract the attention of citizens as well as lawmakers. The new free trade agreement establishes a framework for sustainable development in the context of trade and investment. The relevant provisions aim to maintain Vietnam’s right to regulate for the targeted protection level, require the country to take measures to mitigate the pressure on the environment, and open the door for cooperation with the European Union. However, it remains to be seen, whether these provisions balance the risks associated with the increase in trade and investment through the free trade agreement.

Deepening relations between Ukraine and EU in the context of DCFTA conditions.

2019 ◽  
pp. 41-48
Author(s):  
Ірина Борисівна Чичкало-Кондрацька ◽  
Анастасія Олегівна Власюк ◽  
Дарія Сергіївна Кондрацька
Keyword(s):  
European Union ◽  
Free Trade ◽  
Free Trade Area ◽  
The European Union ◽  
State Structure ◽  
Association Agreement ◽  
Trade Area ◽  
Current State ◽  
Real State ◽  
The Eu

The article is devoted to the study of the real state and consequences of deepening of economic cooperation between Ukraine and the EU in the conditions of implementation of the Association Agreement. The state of implementation of the Association Agreement between Ukraine and the European Union is considered on the basis of the study of official government reports and the results of independent experts' studies. The analysis of the current state, structure, tendencies and peculiarities of trade cooperation of Ukraine with the countries of the European Union is conducted. The influence of the Deep and Comprehensive Free Trade Area with the EU is determined. Particular attention is paid to the problems of Ukrainian companies entering the EU market and the use of duty-free tariff quotas.

Does the European Union Have New Clothes?: Understanding the EU’s New Investment Treaty Model

2016 ◽  
pp. 773-822 ◽  
Author(s):  
Kyle Dylan Dickson-Smith
Keyword(s):  
European Union ◽  
Robust Design ◽  
The European Union ◽  
Investment Treaty ◽  
Appellate Body ◽  
Transatlantic Trade ◽  
Investment Agreement ◽  
General Exceptions ◽  
Trade And Investment ◽  
The Eu

The purpose of this article is to critically analyse the methodology and impact of the investment chapter the European Union (EU) proposed for the Transatlantic Trade and Investment Partnership (TTIP). It focusses on the innovations of an appellate body and the incorporation of a ‘right to regulate’-provision, as well as general exceptions that are very similar to Article XX of the GATT. In light of the development that these features have been replicated in the CETA and the EU-Vietnam FTA, it questions why the EU is changing the traditional form of investor-State arbitration in a preferential trade and investment agreement and whether the EU’s model is viable, and formulated on a robust design that will stand the test of time.

scholarly journals The Free Trade Agreement and Investment Dispute Settlement Between the European Union and Vietnam: A Critical Assessment

2020 ◽  
Vol 3 (2) ◽  
pp. 43-83
Author(s):  
Umut Turksen ◽  
Ha T. Nguyen
Keyword(s):  
European Union ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Dispute Settlement ◽  
Good Governance ◽  
Trade Agreement ◽  
Open Market ◽  
The European Union ◽  
Stepping Stones ◽  
Investment Protection

Abstract The European Union (EU) is an open market economy, and against the rise of protectionism globally, the ‘Global Europe: Competing in the world’ communication of European Commission in 2006 reflected the EU perspective that Free Trade Agreements as alternatives can go further and faster in promoting openness and integration, by tackling issues which are not readily available for multilateral negotiations and by preparing the stepping stones for the next level of multilateral liberalization. After the prolonged negotiations and the EU’s legislative processes, the European Parliament gave its consent to both agreements of European Union – Vietnam Free Trade Agreement and Investment Protection Agreement on 12 February 2020. Those bilateral instruments promote enhanced transparency and regulatory best practices that are consistent with existing international norms or standards, also an important stepping stone and a show-case for the EU’s longer-term goal of a region-to-region (EU - Southeast Asia) trade deal. Those agreements have established a new two-level judicial structure with the strong judicial character (Investment Tribunal System – ITS) which Vietnam has accepted via legally binding commitments. It is important for Vietnam to follow the good governance standards and the rule of law principles. If the ITS works well, it will provide additional safeguards and guarantees to investors whereby FDI flows to Vietnam are likely to increase. Finally, the ITS regime provides a powerful incentive or a catalyst to review and modernize the domestic legal system of Vietnam not only to improve the investment eco-system in Vietnam but to pave the way for optimization of its economic potential and competitive power in the region (i.e. in the ASEAN).

scholarly journals Pogłębiona i kompleksowa strefa wolnego handlu — nowa forma współpracy gospodarczej Unii Europejskiej z krajami partnerskimi Europy Wschodniej i Kaukazu Południowego w ramach Europejskiej Polityki Sąsiedztwa

Ekonomia ◽  
2016 ◽  
Vol 22 (2) ◽  
pp. 27-42
Author(s):  
Adriana Kalicka-Mikołajczyk
Keyword(s):  
European Union ◽  
Free Trade ◽  
Free Trade Area ◽  
Economic Benefits ◽  
European Neighbourhood Policy ◽  
The European Union ◽  
Association Agreement ◽  
Fair Competition ◽  
Trade Area ◽  
The Eu

Deepen and congeneric free trade area — a new form of business collaboration of the European Union with its neighbours from Eastern Europe and the South Caucasus within the European Neighbourhood Policy The European Neighbourhood Policy ENP was developed in 2004, with the objective of avoiding of new dividing lines between the enlarged EU and its neighbours and strengthening the prosperity, stability and security of all participants. Within the ENP the European Union offers its neighbours a privileged relationship building upon a mutual commitment to common values, political association and deeper economic integration. The ENP links partner countries with the EU’s internal market and its social and economic model. For partners, this means adopting basic rules on equal opportunities, economic participation and fair competition. The ENP builds upon the legal agreements in place between the EU and the partner countries: Partnership and Cooperation Agreements or Association Agreements. Ukraine, Georgia and Moldova signed Association Agreements with the EU on 27 June 2014. The deep and comprehensive free trade agreement is part of a new generation of Association Agreements with eastern partner countries which provides a long-term foundation for future economic relations with the European Union. It was agreed that Association Agreement should take an ambitious and innovative approach, include a deep and comprehensive free trade area and go qualitatively beyond the current Partnership and Cooperation Agreement wherever possible. It contains binding, rule-based provisions and cooperation developed further than in traditional agreements and it is wide-ranging, covering all areas of interest. The deep and comprehensive free trade area is part of the Association Agreement which offer a new framework for modernising partner countries trade relations and for economic development by the opening of markets via the progressive removal of customs tariffs and quotas, and by an extensive harmonisation of laws, norms and regulations in various trade-related sectors, creating the conditions for aligning key sectors of the eastern partners economy to European Union standards. The deep and comprehensive free trade areas are expected to bring many economic benefits for Moldova, Georgia and Ukraine by offering businesses access to the EU’s single market — the largest in the world.

scholarly journals Dynamics and determinants of trade exchange between the European Union and India

2020 ◽  
pp. 123-139
Author(s):  
Grzegorz Bywalec ◽  
Keyword(s):  
European Union ◽  
Free Trade ◽  
Global Economy ◽  
Descriptive Analysis ◽  
Numerical Data ◽  
Free Trade Area ◽  
The European Union ◽  
Trade Area ◽  
Economic Entity ◽  
The Eu

Purpose – This article attempts to identify and assess trade exchange between the European Union and India, including an indication of the main determinants of the process. Research method – Descriptive analysis based on numerical data from various statistical sources together with a review of specialist literature. Results – Trade exchange between the EU and India is particularly important for India. Exports to the EU account for around 17-20% of Indian exports in total. On the other hand, the EU’s share in Indian imports amounts to 10-12% of all imported goods. Trade with India looks different from the EU side. India’s share in both exports and imports presents a margin for EU trade in goods of 2-3%. The share of services in the trade between the EU and India is high. It accounts for 25-30% of mutual turnover. These are usually modern services based on the offshoring principles, such as IT, business, transport, consulting, science, and tourism. Among the European Union Member States, India’s main trading partners in goods are Germany, the United Kingdom, Belgium, France, the Netherlands, and Italy. These six countries account for ca. 85% of the EU-India trade exchange. In 2007, negotiations started to create an EU-India Free Trade Area. Due to the large differences in the positions of both parties, these discussions were not finalised and were subsequently suspended in 2013. However, after the reactivation of talks in 2016, there is still a possibility for the creation of an EU-India Free Trade Area of 1.8 billion people. Originality /value / implications /recommendations – At the beginning of the 21 st century, in terms of GDP (according to PPP), the European Union (understood as one economic entity) became the second largest economic power globally (after China), while India advanced to fourth position (after China, the EU and the USA). An analysis of trade exchange between these two economic powers allows for a clearer understanding of the modern global economy, as well as the processes and mechanisms of its functioning.

scholarly journals European Union – USA: transatlantic agreement free trade and investment: past and present

2016 ◽  
pp. 20-32
Author(s):  
Andrei Martynov ◽  
Yevgen Khan
Keyword(s):  
European Union ◽  
Free Trade ◽  
Barack Obama ◽  
Transatlantic Trade ◽  
The Usa ◽  
World Economic ◽  
Trade And Investment ◽  
The Continuum

The paper deals with relationship between European Union and USA in the context of Transatlantic Trade and Investment Partnership. These are the need for the positive dynamic of world economic. The paper analyzes the criticism of this process. The debate itself takes place in the continuum Transatlantic Partnership. The USA president Barack Obama hope managed to define features of Transatlantic Trade and Investment Partnership between USA and EU. The author distinguishes social, geo-political and many factors of the analyzed phenomenon of this project.

scholarly journals ANALYSIS OF UKRAINE’S INTERNATIONAL TRADE IN THE EUROPEAN UNION

2019 ◽  
Keyword(s):  
European Union ◽  
International Trade ◽  
Foreign Trade ◽  
Free Trade ◽  
Free Trade Area ◽  
Trade Agreement ◽  
The European Union ◽  
Association Agreement ◽  
Business Entities ◽  
The Eu

Ukraine's foreign trade is one of the most important means of increasing the state budget, and the European Union is the strongest global economic organization, the largest and best regional market in the world. Therefore, the study of the problems of economic cooperation between Ukraine and the EU in the context of wide and favorable access of domestic enterprises products to the EU markets is becoming increasingly important for achieving a strategic goal. This goal concludes the development of Ukraine`s economy and achievement of a rightful place in the international differentiation of labor. The article considered the socio-economic nature, role and importance of international trade; main problems and prospects of Ukraine's trade with the EU as well as its dynamics and structure, various methods which are applied to analyze the current state of foreign trade of Ukraine with the EU. In our work we analyzed the obstacles of trading between Ukraine and the EU, ways to overcome them and benefits of this trade. The application of the Free Trade Area between Ukraine and the EU contributes to the gradual expansion of Ukrainian export access to European markets under the Association Agreement. The execution of this agreement for Ukrainian business entities simplified the entry to the protected domestic market of EU Member States and gave the opportunity to realize its own competitive benefits in purchase quality and price. Under this Free Trade Agreement Ukraine assumed not only opportunities but also certain obligations on improvement of quality standards and product safety, implementation of reforms in the area of technical regulation, development of quality assurance system and safety food industry. The simplification of goods access to other markets is indirect benefit for Ukrainian manufactures. The entry to the EU markets with high level standards automatically indicates goods quality.

scholarly journals Legitimacy Issues in Investor-Treaty Arbitration and How a Permanent Court May Be the Best Solution

2019 ◽  
Vol 6 (2) ◽  
pp. 286
Author(s):  
Hasanali Pirbhai
Keyword(s):  
European Union ◽  
Dispute Settlement ◽  
Current System ◽  
The European Union ◽  
Amicus Curiae ◽  
Commercial Arbitration ◽  
Trade Law ◽  
International Trade Law ◽  
Transatlantic Trade ◽  
Trade And Investment

Investor-treaty dispute settlement is used by States and investors to resolve disagreements that investors may have with regard to their investment in the host state. Disputes are usually resolved through arbitration, and the process has all the trappings of general commercial arbitration. However, there have been calls for the system to be replaced by a permanent court structure. If a permanent court is the next step, this must mean that the current system has legitimacy issues which may be resolved by a permanent structure.This article explores three problems with the current system: inconsistent decisions, lack of appeals, and lack of transparency. These are serious issues which affect the legitimacy of the current system. The discussion focuses primarily on the International Centre for Settlement of Investment Disputes (ICSID) system as this is the most common choice, and some mention is made of the United Nations Commission on International Trade Law (UNCITRAL) system. Throughout the article, I analyse the problems associated with these and how a permanent court may address these legitimacy issues. My argument is that a permanent court can weed out inconsistent decisions, have a fair and real appeals structure, and be sufficiently transparent as to as to allow or facilitate interested groups to act as amicus curiae. The discussion makes reference to the draft Transatlantic Trade and Investment Partnership (TTIP) because, through this, the European Union (EU) has proposed a potential permanent court structure.

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