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Mega-Regional Trade Agreements: CETA, TTIP, and TiSANew Orientations for EU External Economic Relations$
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Stefan Griller, Walter Obwexer, and Erich Vranes

Print publication date: 2017

Print ISBN-13: 9780198808893

Published to Oxford Scholarship Online: October 2017

DOI: 10.1093/oso/9780198808893.001.0001

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Three Salient Issues of the New Comprehensive Free Trade Agreements

Three Salient Issues of the New Comprehensive Free Trade Agreements

Chapter:
(p.295) 14 Three Salient Issues of the New Comprehensive Free Trade Agreements
Source:
Mega-Regional Trade Agreements: CETA, TTIP, and TiSA
Author(s):

Stefan Griller

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198808893.003.0014

The author argues that the mega-regionals are incorporating WTO standards on the removal of technical barriers to trade (TBT), but do not go much further. Consequently, domestic policies on consumer or environmental protection are inevitably affected. However, in this regard, the mega-regionals would not result in a substantive change. By contrast, the relationship between the removal of TBT and investment protection standards is qualified as poorly balanced, unclear, and creating fresh problems. This includes the possibility that damages might be awarded even in cases where the party to the agreement has correctly used its ‘right to regulate’. Moreover, a critical account of the investor-state dispute settlement system foreseen is offered. It is presented as unnecessarily complex, and creating unbalanced advantages for investors. The better alternative would be integrating national courts into the system.

Keywords:   chlorinated chicken, direct effect, domestic courts, hormones case, investment protection, precautionary principle, risk management, technical barriers to trade, TBT, ISDS

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